The transaction fee is a FINRA and SEC fee charged by the stock exchange on US stock sales. See
Stock Exchange Fees – Trading 212.
I’m am not too bothered by the inaccuracy in the Review order window. Presumably the fx fee stated will not be charged. The “problem” will persist for only one month. Just thought it should be noted in case this is not what is intended.
I opened my Invest account about 2 weeks ago and there was no option to select a base currency, it was opened in GBP my home currency. When I opened my T212 account a year ago I was able to choose a base currency for my CFD account, but no such option was given for ISA or Invest when I opened those.
Although you did mention new customers and of course that wouldn’t mean myself, I highly doubt T212 would introduce an FX fee and then allow new customers to select their preferred base currency upon opening their Invest account. It somewhat defeats the purpose of bringing in the fee, the aim is to make money and I find this is best done by forcing ‘home’ base currencies on all new accounts. If I’m wrong and you’re right then I could just close my account and reopen it I guess?
Did you open your ISA account before the Invest? The Invest follows the ISA but not the other way. Probably you can close your account and open another one, but make sure you open the Invest first in USD, the ISA will be in GBP by default.
Yes, CFD, ISA then Invest in that order. So you’re saying that if the Invest account is the first one you open you can select the base currency?
What do you mean by “The Invest follows the ISA but not the other way”?
I mean if you open an ISA acoount first, it has to be in GBP, and it will set your base currency to GBP and Invest has to be the same, but if you open Invest first, you can choose a different base currency, but ISA will not follow as it has to be in GBP regardless of the Invesst currency.
Note if you close your accounts now, you will need to join the waiting list to open a new account.
I can confirm that the FX fee won’t be applied in this case even though you see it in the preview. We will correct the preview.
Well well well, I didn’t know that, I know that wasn’t written anywhere at the time I signed up either, I always read through the T&C’s before I pass my personal information to any business so I imagine this has been discovered by people swapping stories on the forum.
I don’t use my Invest account for trading because I use CFDs so it doesn’t bother me but you’d think that information would be made clear on the signup screen since you don’t get a chance later to rectify this if you make an error.
Thanks for the clarification
No changes to my response to help day traders by introducing fixed fees/ monthly fees and will be trading elsewhere now. 2 $10k trades daily for a month adds up to £1800 in fees; funnily enough I think I can find a better deal elsewhere.
It’s fixed now. 
TBH, I did not know about this until recently.
I think it would be useful to add currency into the search filter.
I have an account in usd so for me (and everyone with account in usd) is better to buy for example VUSD than VUSA, I’m not sure about NASD (nasdaq 100 index), CNDX rather than EQQQ, etc…
Pay attention.
Hypothetically If I made an ave of 1% per day on my account doing an ave 3 trades (return trip buy and sell) per day,
I’d make 1250% in a year without the fees.
The new fee would reduce my gains to 29%
Are you learning?
The option to let existing customers change or recreate an account in USD needs to be given. There is no justification in locking us in to a currency on our account in light of having just changed the rules with the introduction of this fee. USD accounts are possible for new customers. Don’t punish me because I’m already your customer!
Can I remind you of the community rules?
https://community.trading212.com/faq
The tone of the above two comments is unnecessary and you could have just posted the rest of your post without them.
I admit it was unfriendly. It was a knee-jerk response to someone calling my trading strategy useless to belittle my request.
We’ve all been there at some point 
It would be cool if my strategy did actually yield 1250% gains 
The math is simplistic and the example hypothetical, but it does serve to show how much of an impact the fee can have if using size daily to the best of your advantage.
Another user’s example of 2 x 10k trades per day = £1800 in FX fees per month.
Lots of people trade with this kind of size and frequency, and do really well from it, but nobody but the most hapless and naive customer would throw away that kind of money (the cynic in me tends to believe that T212 are smacking their lips in anticipation of just how many of their users will do just that).
Please T212 give us an option to make our Invest account USD without having to close our ISAs. I like your platform but I cannot pay this much to trade.
I believe instead of charging twice (both while buying and selling), it is better to let individuals have another base currency and give them the option of changing them when required. For individuals who already have another base currency, they are helpless. Etoro and Stake does not create such confusions
If the 0.15% fee is incorporated in the spot rate for any trades, any idea why the 0.15% fee seem to be added after converting using the Fx rate?
Placed an order to understand this:
N= 10, sp= 8.53 Fx rate (£/)= 1.38889. Thought the fx rate quoted (shown in the order detail section) included the 0.15% fee which should have totalled £61.416 but looks like the 0.15% fee is added after converting it using the quoted fx rate so they added the fee of £0.09 and the total came to £61.51.
T212’s example of showing the calculation for the new fx rate by adding the 0.15% fee to the spot rate becomes pointless in my opinion.