Just to clear out the dust 
A dividend reinvestment, fundamentally remains a stock purchase, regardless of where the funds, used to buy the shares originated from. So, in cases like that, the FX-fee will be applied.
An exception is made only when it comes to proceeds from corporate events.
Yes, but a dividend and its subsequent reinvestment are in the same currency. Therefore, when you are automating the reinvestment in a pie, it doesnāt make sense to charge your FX fee. Even if the dividend does get converted to the base currency in between (as a result of your pie implementation or for legislative reasons), we are all aware that youāre not being charged an FX fee anyway, so quite frankly youāre taking a liberty in charging us an FX fee for an action that ultimately really only involves a single currency.
For example, if I have a pie that only contains USD stocks then the dividends will get reinvested into the same USD stocks, so where is the FX?
If I have a pie containing 70% USD stocks and 30% GBP stocks then at most 30% of the USD dividends should be subject to the FX fee and 70% should not.
Correct, you would only have a currency conversion if your account have a different currency.
The dividends always get paid on your account, if your dividends are in a foreign currency they must be converted to the same account currency. Then they could be quiet or be reinvested (manual or automatically), if you reinvest, there could be a currency conversion.
It seems that you suggesting that the dividend amounts donāt pass through your account and go direct to the Pies to be reinvested without any currency conversion.
I changed my example before I read your reply.
Iām only talking about automatic reinvestment in a pie.
I donāt know whether it is necessary to go through the base currency when reinvesting dividends in a pie. However, itās a moot point since there is no underlying FX fee anyway; this new fee is just a fabrication.
I see it now. The example is almost similar, 
How can you avoid the currency conversion of dividends (or stock sells) when they are on a different currency from your account?
My account is in GBP. Iām just suggesting that Trading 212 could receive the dividend in USD and just make the pie purchases using that USD. Who says it has to go into GBP for a split second?
I also added this to my comment above.
This decision makes very little business sense. Trading 212ās position in the market is the no fees broker. Thats where all the growth has come from and that is the calling card of T212.
Freetrade completely c*** blocked themselves when they hid countless stocks behind a pay wall and I thought GREAT! now all T212 has to do is stay true to their business model and theyāll take a huge chunk of Freetrade customers and be able to improve their lagging service, right!?
Now that T212 is charging users an FX fee, they are taking a U-turn from their unique selling point, and are becoming another brick in the wall. The fact T212 had zero fees was the reason alot of people signed up. Are you telling me that you want less growth now so youāve decided to remove the reason people signed up in the first place? Lunacy from the T212 board.
How can you expect people to be ok with paying more in fees when youāve not added simple, run of-the-mill features like trailing stops on ISA and Invest accounts?
How can you claim to have had massive growth yet you decide to charge for a feature you werenāt previously charging for? If anything there should be less fees if you have more users and therefore make more money from PFOF? More profits should not = more fees passed onto users.
I hope the next system update is one hell of an improvementā¦
It was a temporary approach.
Trading 212 already had fees in the past. It removed and now reinstated:
Probably bank regulations/laws and the bank used by Trading 212.
If foreign currency enters a GBP account even for a millisecond, it must be registered as GBP amount so it must be converted to GBP. What happens afterwards is irrelevant.
Pies arenāt separate accounts, they are virtual portfolios inside a base account, with a fixed currency.
To not have a currency conversion, the Pies and the base account must be on the same currency.
As I said in my post above:
PFOF isnāt legal in the UK and isnāt a practice that T212 do
PFOF may not be legal is UK but the exact same thing called something else is definitely being used somewhere, you canāt run a brokerage with no way of paying expenses. If the last 3 months has taught me anything its that brokerages donāt seem to have to abide by the same rules as everybody else
Thatās not really how it works, regardless of what you want to call it, itās not allowed in the UK
So unless you think an FCA regulated and authorised firm is breaking the FCAās own rules (you need proof for those kind of accusations btw) then you have no point
Your orders are sent to InteractiveBrokers who execute them on the exchange or OTC if the same price or better is available. T212 donāt use market makers like citadel in the US, if they did maybe we wouldnāt have to wait so long for LSE AIM orders to execute 
Up until now the main source of revenue has been share lending, I guess the board decided they needed more revenue and so have implemented this fee
Btw Iām no fan of the fee or of the way itās been announced or of the switch from āweāre totally commission freeā to āyeah well everyone else has these fees so now we do tooā, but peddling incorrect information doesnāt add anything useful either
Sorry Ryan, you can no longer reason with me as my tinfoil hat is firmly in place on my wrinkled five headš
Iām hoping one day we get a broker that just tells us how it is rather than smothering every feature change in corporate BS thatās miles off from the reasons the decision was actually made.
ProQuant is another interesting topic worth checking out if you feel the urge to dig in to the failings of the T212 management team 
Best of luck soldier keep fighting the good fight
To be fair in the current environment a tinfoil hat isnāt all that bad 
everything needs to be taken with a fairly heft pinch of salt at the moment
Ok - yeah that is an improvement. At least by not having to pay the FX Fee on Dividends weāll get to decide what to do with the money and whether or not to buy stock and pay the FX Fee. I still think Trading212 should refrain from charging the FX Fee to currently opened positions and only apply the FX Fee to newly opened positions from tomorrow.
I get that people are miffed the no fee broker now has fees, but surely people are making this a much bigger issue than it really is when it comes to shorter term trading. If your short term trading is ānullifiedā by a 0.15% ālossā to a fee, your trading canāt be successful in the first place
I guess it impacts people differently depending on how they use 212. Those investing for large long term growth rather than really frequent day trading using large amounts of capital shouldnāt be that bothered. Iām in that camp. But I get how Ā£30 hits on Ā£10k trades multiple times a day adds up.
Iām happy with the service, still far cheaper than others and Iād rather 212 were comfortably profitable and growing that profitability as that should only benefit us all.
@Y.M I note the app has been updated to show fx fee in the Review order window. But does it correctly compute for open positions? When I try to prepare an order for an existing open position I am seeing an fx fee charge. But that should not happen until 3 May, right? Do we have to accept that the Review Order info will be wrong, but the correct fx fee of 0 will in fact be applied by some correction/reversal that will appear in the trade History?
This may be particularly confusing for a value order, since the shown number of shares shown to be sold will be more than the number that actually needs to be sold, as seen here:
Edit: things are now working correctly.
This is very concerning.
BTW, whatās the TRANSACTION FEE?
