Thanks. There are also several reports about bad experiences on withdrawals to Revolut. It’s seems like a lottery, we never know if can win the prize to get money out from the platform.
But buying GBP stocks and Investment Trusts on them will be expensive. Because you still have to pay USD-GBP FX fee…
From the information I could gather many of those cases were due to accounts not fully verified prior to withdrawal request.
No you don’t. Fx fee is paid only once you deposit (and only if you deposit from non USD account). Once funded, your account will be in USD. For stocks traded in other currency, e.g., SMT the USD/GBP conversion is done at current FX rate. I have calculated the rate of conversion for a given trade and I confirm eToro doesn’t charge FX fee. The execution time is surprisingly fast compared to T212.
For UK stocks T212 will be charging on non-UK accounts stamp duty fee + FX fee = 0.65%. Additionally 0.15% after closing the position. That’s a lot for frequent traders.
Yes, that I already know.
Thanks for the confirmation, the FX fees on transactions aren’t explicit on their site. So this way, there is an advantage with transaction FX fees on them. Nice to know.
N.B. We’ve taken into account the feedback and have decided to not apply an FX fee for payments arising from corporate events such as dividends.
thank you. saves me overhauling my dividend pie spreadsheet to factor in that 0.15%
Game changer thanks @David saves 0.15% three times and helps long holders save me moving else where now.
Thanks for update and for the news
Can you confirm that: When we receive the dividend, we don’t pay FX fee, but when reinvest it we pay?
@David thank you for listening to your customer base credit where credit is due
@pintas Yes, it’ll be applicable only for trading activity.
So 1 AZN at 71.89 GBP
Support claims that estimated cost = stock price + stamp duty, which if true, means T212 still has better rate then revolut.
71.89 GBP = 98.96 USD
71.89 GBP = 99.08 USD.
That is if Estimated cost include stamp duty.
Wait this is April fool’s day !!! I’m not sure if I would laugh at an absolute cracker or cry
Absolutely not happy with FX fees. 0.15 % is quite a lot. Need to think about paying monthly fees instead. One will get absolutely hammered when multiple trades are done in a day.
Eh - how are you getting a broker to discount the 0.5% stamp duty payable on SMT purchases - why would they pick up this charge?
does .15% FX fee also apply to transferring money from my ISA to Invest account which is in USD
The fee will not be charged when you transfer funds in Manage Funds. It will only be applied within the context of trading i.e when buying/selling shares.
Thanks! That is really Great news!
David you beast! This is made my day
When will this 0.15% FX fee be introduced?