Most of the funds in my personal bank account are not denominated in EUR or USD so I have to do a conversion before depositing funds into Trading 212. For me, it doesn’t make sense converting from one currency to EUR to then have Trading 212 convert it again to USD to buy US stocks. I understand you don’t charge a currency conversion fee, but I think it’d be better for me to deposit in USD if most of my portfolio is built around US stocks.
Also, it’s my understanding that if a US company pays out a dividend it is paid out in US dollars. Does this get converted to EUR in Trading 212? If that’s the case, I’m running a slight currency risk.
How can I deposit in USD, do I have to open an entirely new account?
You can’t. (you are not the only one in the same situation)
My current workaround plan for this is to use T212 just for ETFs and Euro stocks and for individual Us stocks use Revolut Trading. (even though the platform sucks and it’s free only for 3 trades a month)
It would be great if multi-currency accounts would be added.
Technically you can only have 1 account per ID with T212.
So one option is to request delete of current and request new with USD.
Or create 2nd account using ID of spouse or family member However you need to fund that accouny using resources from the member so that might not be most feasible approach.
We have idea on community to have multi currency in t212 , however no commitments to add feature of yet. See link below.
However you need to fund that accouny using resources from the member so that might not be most feasible approach.