I live in the EU, my bank is in the EU and I deposit funds into my account as EUR
Yet, 99% of my transactions are on the US market.
I just found out that every time I was buying a US share, I also pay conversion fees from EUR to USD, and then when I sell the shares I pay again conversion fees from USD to EUR, then I buy another US share, so I pay another conversion fee, and so on…!!! Today I made +$86 net on a transaction but only +€10 were added to my available funds… the rest? gone as fees!!
Why I can’t keep my balance in USD? and only when I want to withdraw money or deposit money, you can charge me the conversion fee, but not with every buy/sell transaction!
This is how it looked like today (before I eventually sold QCOM)
I doubt that was the case. Is this in CFD account or Invest account? In CFD there is 0.5% charged on currency exchange of the result. But in Invest it is only 0.015% not enough to reduce $86 to €10. The difference is more likely due to a change in USD/EUR rate. The USD depreciated quite a bit against EUR today.
That’s an Invest account
For me, that’s all fees, either for T212 or exchange fees between USD & EUR
You’re right that could be more related to the exchange rates. still, I don’t want to keep converting the funds to EUR after each transaction since i’m mainly investing in US shares
