Ouch - FX Fee for last month:
You traded more than 370k?!? What are you investing in we all want some of that!
How did you get to the 370k figure?
I honestly don’t know why the high fee. Probably just bought & sold too many shares too often 
duuuuude, you’re spot on
How did you calculate it?
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556.16/0.15%= 370773
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ahh yes, of course! :))
For clarification, this is the cumulative FX fee figure for the last month, not a single trade.
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Do you hold balances in other currencies? If not, the fee is 0.15% one way, and same again back when you sell. If you’re trading in high frequencies and don’t use the feature, I’d recommend holding a balance in the other currencies and using that to buy to save yourself the fees.
Only one currency GBP - in the ISA account that’s the only currency allowed.
It would be ideal to eliminate the fee for sure, but not possible at this time.
Unless I trade GBX equities only - which isn’t really my bread and butter.
The alternative is to not use an ISA, and have the accound in USD as you suggested.
ISA - pay no tax on gains - but FX fee.
Outside of ISA - pay tax on gains, but no FX fee (assuming account is in USD).
Pick your poison :))
Bigger question, are you achieving a return higher than an ind3x fund, consistently, long term?
Bingo, that’s the right question to ask.
Otherwise, you’re just throwing money in the wind.
Shorts have worked better than longs lately.
And I can’t short in an ISA sooo my profits have gone in the same direction as the market lately :)))
Not sure if the Q’s / SPY have bottomed here - looks possible.
Then perhaps longs will start to work again.
@Vio where did you see the total fx figure for the past month?
@qwerki is this simply depositing your funds and choosing a USD option somewhere? are there any costs with the initial conversion?
Email summary from T212 - daily emails + end of month.
In the invest account I think there’s an option to keep sales in their native currency and to use your existing balances when buying. You can of course convert between currencies for the 0.15% fee at any time.
I manually convert GBP-USD at advantageous times and leave my USD profits in USD for later purchases. There will be another 0.15% fee when I eventually convert back to GBP, but it’ll just be a pair of one-off fees.
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is this true? This is helpful for sure!
Invest account only it seems.
Settings —> Currency options —> select “Asset currency” as default selling (and buying) currency.
With each sell (and buy) order you can also manually select the currency you want to get paid in (or pay in).
If you choose the asset’s native currency to sell you won’t be paying fx fees until you convert the funds back to your primary currency. Same for buying, no fx fees if you choose the asset’s native currency (you do need to have free funds in that currency).
Of course be aware of the currency risk when keeping funds in foreign currencies.
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Euro dollar
Gold
Many other stocks
@HRD thanks for that, so if I select “Asset currency” then try to buy some US shares it will automatically use US dollars? how do I set up the dollar account if I’ve already got a GBP account?
Also if I convert £100 into US dollars now and it costs 0.15% or I paid that fee for 10 transactions of £10, wouldn’t the fee work out to be the same in the end anyway? not sure if I’ve missed something in where you save.