Introduction of FX Conversion Fee

On my end I will move all free funds to another platform that offers real commission free trading. I am betting that T212 will think twice when they will realise the amount of people fleeing away because of this decision.

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Morningstar is a good resource if you search for the ETF name. For some reason Iā€™ve found a good chunk of ETFs missing from justetf.com

https://www.morningstar.co.uk/uk/etf/snapshot/snapshot.aspx?id=0P0000M2Z9

You should be able to get this added as its UCITS in USD.

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Morningstar is a very good source of information, with lots of data for fundamental analysis on Funds, Trusts, ETFs, Stocks. Besides some interesting articles and documentation (KIID/KID, prospectus, etc).

The paid version Morningstar have extra data and also have other useful tools for asset/portfolio management.

Integrating Morningstar in Trading 212 could be a good addition to investors and Trading 212.

See here:

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Hi David, Iā€™ve also noticed that the Total Return is including the FX fee that was charged, which shouldnā€™t be as itā€™s a cost. Could you please have a look, thanks.

Nice touch, youā€™ve changed it. :wink: :+1:t3:

image

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How do you work that out? Interactive Brokers charge $2 minimum fee per currency conversion and Iā€™m sure plenty of plebs here are paying in like Ā£200 here and there; fees mount up when that % is much higher

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Hey @Ephi - let me send you a DM and we will sort this out. :v:

Thanks B.E! I just replied your DM

is it safe to assume the policy change means when realty income pays a dividend in us dollars the dividend payment will not be charged a currency conversion fee?

Exactly what is considered time of trade? Are we talking at the moment of transfer or does the market time play a role? The reason I ask is that if the account was able to hold the currency until end of market, then it might be a way of saving a small fortune of the exchange. e.g, if I wanted to sell one US stock to buy another US stock, the ideal of paying the exchange fee on both the sale and purchase adds up, but an option, such as within a Pie, to sell and purchase within the same market, without changing currency, would save that exchange fee. Any leftover non-GBP funds not used in the transaction could then be converted back afterwards, or at market close. Is something like this possible?

Am I the only one who doesnā€™t understand the calculation example in the helpcentre article?

:face_with_monocle::thinking:

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Theyā€™ve answered that earlier up, thereā€™s no need to assume anything.

No FX fees on corporate actions - I.E Dividends.

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Thanks for Fee Trading212 :pray::pray:

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This needs to be implemented, I get a Ā£3 fee on every trade I make!!!

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There needs to be monthly cap of letā€™s say Ā£15 in feeā€™s - if you make trades with large amounts of money and move positions frequently you get charged Ā£3 every time!

This isnā€™t commission trading anymore so remove it from your website and app - the commission is the conversion fee.

I understand the cap doesnā€™t exceed Ā£3 but there 100% needs to be a overall maximum cap of letā€™s say Ā£75 a year/Ā£6.25 a month.

Before you make big decisions like this the Trading212 team need to think carefully on their actions and the impact it will have to both active day traders and long-term investors - I donā€™t feel like anyone has been heard or acknowledged about this cap issue, so please fix it!

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Can you get it cheaper elsewhere?

It seems to me the fee is quite fair in comparison to pretty much everyone else.

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If you day/active trading on the US exchanges the costs rack up quickly overtime.

They should make a package like Ā£15 a month then you get unlimited FX fee free trades.

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Maybe subscription plans:

  • ā€œTrading Lightā€ with a free fixed number of FX trades per month (e.g. 30 trades/month): 5 USD/GBP/EUR/CHF

  • ā€œTrading Proā€ with unlimited free FX trades and also with Level 2 Data feed: 15 USD/GBP/EUR/CHF

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Thatā€™s what Iā€™m thinking, for active day traders Ā£3 for each trade if someone makes ten trades a day thatā€™s Ā£30

There needs to be a monthly/yearly cap or Trading212 need to implement subscription plans.

@David @Tony.V @Team212

Please look into this option - as costs rack up so much.

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Have a fee on trading also helps to not overtrading.

It disciplines the trader/investor, making he/she thinking twice if he/she wants to trade/invest or not.

If we see the fees piling up, we start to put the foot on brake.

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