Introducing multi-currency support to Trading 212 Invest

Oh yes, I’m definitely agree to this. It’s another step forward.

But making a pie on the same currency as you wrote, it is still not possible to pay with USD when your basic currency is the EUR.

Will see what the future brings.

WARNING _ WARNING

As I hadn’t seen any full instructions I used the BOT, which evidently doesn’t know much about multi currency accounts. It said US assets would be sold in dollars - Great!

BUT NO
I’ve spent the day thinking I wasn’t incurring fees but I have a load on sell & buy, even though I’d converted my buying funds to dollars.
When you sell US stock, it by default goes to GBP, not dollars which the BOT says.
So you get charged, twice.
I see now there’s an undescribed button on the sell form.
The guy on "Chat " didn’t know about it, either.

Cheers, 212.

It’s always annoying to incur unnecessary costs, especially as you checked via chat.

Changing the currency defaults in your account settings could make it easier for your future orders. The default buying and selling currency can be changed via settings —> currency options. There you can choose between ā€œprimary currencyā€ and ā€œasset currencyā€ so you won’t have to worry too much about the ā€œundescribed buttonā€ anymore when placing orders.

Always keep reviewing orders carefully before placing off course. Wish you the best of luck with future trading!

I mean didn’t it look rather weird that in the only 3 things on that form, there’s the Queen’s flag when selling a US stock?

Maybe it’s just me, but to my eye it does look well enough indicated :thinking:

@HRD THanks.
On your last point, 100+ trades yesterday, I didn’t dig into the detail in History until end of day.

Yes,
It’s a pity

  • the BOT doesn’t know much (I checked again last night, it told me multi currency accounts aren’t yet implemented)
  • The bot got it wrong -it told me the funds would be deposited in the currency of the instrument. You rephrase a question and get another answer.
  • The chat people didn’t know how it works (ā€œI will get someone else to answer youā€).
  • ----- the chat people often give the impression they haven’t used the platform
  • It’s not on the expensively produced info-email we got - I checked
  • There’s no Tooltip on that button
  • There are no words by that button.
  • The button on the right (seven squares) is decoration - it doesn’t do anything and
  • There’s no Help utility and
  • It isn’t in the Instructions. (ā€œWhat instructions?ā€, do I hear you say?)

Including the fees from the excess funds converted from £ to $,
I lost about 20% of profits, to fees.

I didn’t notice it. The other button/decoration does nothing.
I was told the funds would be in the currency of the instrument so I had no reason to look for buttons to make it work.

Brits are used to seeing meaningless bits of our flag. Apparently there’s a king now, btw!

I did believe that would be the default indeed.

It doesn’t look like he’s gonna be staying around too long, a bit like your PMs :rofl:

2 Likes

If King Charlie 3 lasts as long as his old man, he’ll be there until about 2050.
If you want to be our PM, put your name on the list. It isn’t very long, and looking at the candidates you stand a good chance…

Please note that the value if your investment may go down as well as evaporate.
You may not recover.

1 Like

It just as well might :wink:

I’m very sorry you were misled. Our chatbot relies on machine learning, and while it has been trained on a vast amount of data to provide helpful responses, it may still encounter certain limitations, like responses about brand-new features, for example. We have implemented measures to improve training and testing to reduce (and hopefully eliminate) such occurrences in the future.

P.S. Please check the email associated with your account. We sent you a follow-up to make up for the conflicting info you initially received.

Don’t have the option available yet. From Romania here.

We’re gradually rolling it out to more and more clients. So check your app later this week, and you should have the option.

2 Likes

It wasn’t conflicting info. It was incorrect.
The email didn’t ā€œmake up forā€ anything. I have answered it.

Don’t be an @rse. The more you’re horrible to staff here the less they turn up, they less they turn up the worse the flow of information gets. Suck it up. It was an error, they’ve corrected it.

Be better.

2 Likes

Now I wonder, if a poor soul ever make a profile named ā€œrseā€, in how many unrelated post he may get tagged :thinking:

2 Likes

I wonder why dividends are paid in Euro (because my account default currency is Euro) in stead of the currency of the asset.

For example if I get dividends from US companies, shouldn’t they get paid in USD from now on?

1 Like

The answer I’ve seen (I might be wrong) is that dividends will still be converted to your default currency and paid into your account but with no fx fee.

1 Like

We’ve covered that earlier in the thread :point_down:

On a side note, @WakeMeUp is right - dividend payments will remain exempt from the FX fee.

2 Likes

@Scrooge:

They haven’t ā€œcorrected itā€.
Unless you mean they’ve corrected their information system - which cost me 3 figures because it was wrong.
They seem to think that once you have the information you need, from T212, you should be psychic enough to know it’s wrong and go looking elsewhere for the same information.
It was their mistake, not mine.
They admit their mistake, and have apologised. :roll_eyes:
I’m not being nasty, that’s just the way it is.
If I were an @rse, I’d be publishing it in public places all over the internet, but I’m not.
I know plenty who are, and would.

Hello @Bogi.H ,
Fine.
But then if we want to reinvest these US dividends to buy more US stocks, we have to pay the FX fee (euro > dollar).
While in the contrary, if the US dividends were paid in dollars (now that the multi-currency feature is available, our account can handle dollars), in the case of buying more US dividend shares, there would be no FX fee for these new buys… :slight_smile:

3 Likes

It’s irrelevant. You continue to be nasty to staff and you’re left with only the bot to talk to because no-one will want to come here.

You’re speaking to humans, stop being a Karen.

1 Like