Introducing multi-currency support to Trading 212 Invest

But if I understood correctly, if my primary currency is euro, the dividends will be freely converted into euros.
Maybe a person from Trading212 can confirm ? or explain if Iā€™m wrong ?

why will you be forced to pay commission (I assume you mean fx fee) every time you buy or sell US stock. Deposit euro, convert to USD (once) and then trade from the USD that you hold in the account with no fx fee. Thatā€™s how I understand it

I got your point.
But Iā€™m buying (US) dividend stocks; so I receive dividends; in dollar; but they are freely converted into my primary currency euro).

Dividend payments are exempt from the FX fee. To help you get a clear understanding of everything, weā€™ve put together a help centre article on the topic with some visuals. Feel free to have a quick look.

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Right, I read the document.
But I remain with my questionā€¦ :slight_smile:

If you want to reinvest the dividends in US shares and your accountā€™s currency is in EUR, youā€™ll either need to convert them into USD or open a new position from your account in EUR. On both occasions, the FX fee will be applied. However, if you reinvest the dividends into an instrument which is traded in EUR, then this wonā€™t be subject to the FX fee.

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Im in spain, trading in euros, has anyone else been able to use conversion yet?
Thanks

thanks Kris. thatā€™s what I was thinking / feared :slight_smile:

you can do this only on your invest account, not on the cfd one ā€¦ i cannot convert eur to usd on my cfd account

i cant understand why this feature isnt implemented for cfds accounts also

Why do you care? FX fee is not an issue in the CFD account as it is in Invest and ISA.

Belgium here. Iā€™ve been activated yesterday evening :slight_smile:

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FWIT, I just noticed that the interest % paid for cash in dollars is higher than the interest % in euros.

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Why saying this? Doesnt 0,15% value the same in both accounts?

I was referring to the interest paid on cash (not on FX fee for currency conversion).

No, the 0.15% applies only to the Invest/ISA order volume.
For CFDs - FX Fee is only applied on the result you are cashing out - that makes it immaterial.

For example you trade buy/short $1,000 of gold - you are charged nothing. (in invest that would have costed you Ā£1.5).
At some point you decide to close your position and take profit or loss - say you close at $1,005 and youā€™ll be making a $5 profit. Only then you are charged the CFD fx fee, but not on your $1,005 order volume, but on the $5 result. This will cost you $0.025.

Thatā€™s why I asked why did you care.

I just got it unlocked!

I noticed it didnā€™t work for pies and when checking the help centre this is indeed mentioned.

However, I can still export all my stock out of the pie and then manually sell them, achieving the same result (selling in their native currency), correct?

Thatā€™s correct. We havenā€™t yet enabled multi-currency support for Pies, but you can export and sell your stocks manually. Just make sure to set your default selling currency to the asset one. To do that, navigate to currency options and choose default buying/selling currency.

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We havenā€™t yet enabled multi-currency support for Pies.

Is this something what is coming in the near future? Itā€™s a lot of work to take all the stocks out several pies, buy shares and put them in the againā€¦ :sweat_smile:

Beside the stocks I have, Iā€™ve two on buying daily base, in one pie, only for that pie itā€™s a lot of work.

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As a user suggested solution - split your pies by currency?

At least weā€™re seeing progress from 212 in adding more functionality to the platform :pray:t2:

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