Introducing multi-currency support to Trading 212 Invest (What about the ISA)

đź’ˇ Feature suggestions & ideas
1

Introducing multi-currency support to Trading 212 Invest is a fantastic idea for T212, I know other brokers like interactive brokers already do it, however can this be rolled out to ISA’s too, is it in the pipeline to do so? It’s Available on interactive’s ISA for sure.

Reason I ask I’m new to T212 (not investing) my account is already maxed out (20K) this tax year and it will be next tax year as well. I have 6 positions 5 of them being American companies so it would benefit me greatly by being able to hold dollars rather than having to exchange when I want to open a new position or sell an existing position. I’ve seen a few people say it makes no difference they are obviously clueless, it makes a massive diffrence. I will give an example how its beneficial just for the clueless:
Say for example I own BABA and its rose 50% by some miracle and I want to sell and buy INTEL literally a straight swap. Currently I would have sell BABA Automatically get converted back to GBP then have to pay a further FX fee of 0.15% when I want to buy INTEL. With a multi currency account I can just simply sell BABA and buy INTEL and avoid the FX fee which is huge on larger accounts and over the long term.

So can you please with a cherry on top add this feature to ISA’s as well.
Thankyou.

2

You can’t hold foreign currency in an ISA. So I’m intrigued to hear how they’re doing it, even for this short period of time.

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3

Yeah I’ve done some research over the weekend asking for multi currency account for an ISA is a no go due to HMRC rules - I’m new to ISA’s I’ve always just had a normal investment account but I’ve had to get an isa because of the capital gains changes coming up. But I’m sure I’ve held dollars in an isa with with interactive but I could be mistaken more than likely mistaken, but everyday is a school day, shame really HMRC should allow it.

4

What you saying is right. With multi-currency account, you avoid FX fees when buying or selling stocks.

BABA and it’s rose 50% by some miracle ( is this a Joke) never it`s gonna happen.

5

That’s why it would be a miracle :joy: - TBF over long run it will probably be ok but that’s just a matter of opinion.

6

With interactive investor you can hold foreign currencies in a sipp account (no idea about isa)

7

I suspect not, as far as I’m aware it’s not allowed under UK tax law to hold non-£ currencies in an ISA.

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