Is there a hidden fees inside the Trading212 exchange rate?

I read on Reddit:

They use rates from a Bloomberg feed, slightly tighter spread than on the CFD platform. These are very good rates. Better than even Revolut.

However, I can’t find information on the official site. Can you provide official information about exchange rates and in which cases they are applied?

What happens if I have EUR based Trading212 account, but wire another currency to the same bank account I am supposed to wire EUR? Does the bank’s exchange rate applied or Trading212’s exchange rate applied?

Here is some idea how to check the exchange rate.

How can we check these rates? I have a demo account amd I want to check them without opening a real account

Start to make a limit order of any US stock, 1000 shares at price 1 dollar. The projected cost will be shown below in GBP (or whatever is your local currency) and there you have you exchange rate.

But this does not answer the question what happens when I wire another currency to the bank account as described above.

There’s an FX fee of 0.5% on CFD. It’s 0% on Invest/ISA.

The spread is raw in Invest/ISA and is widened in CFD. I don’t think it’s a specific percentage.

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As I understand it the currency conversion is done at the same rate as used when buying and selling shares in the Invest account, ie with no fee and at a rate very close to spot rate.

To answer your question, T212 does NOT exchange any currency when placing an order. They use IBKR as their backend broker, which automatically does the conversion in realtime at the best current inter-bank rates at no cost to the user.

These rates are not coming from Bloomberg. And yes they are better and tighter than Revolut, which is actually interbank VWAP rate, which is what your exchanges are executed and settled at there.

Now, in ISA/Invest, T212 doesn’t charge any FX fees. Like I said they don’t because IBKR doesn’t. Also in CFD, you don’t pay any FX fees when you open a trade, the rate is the same. But when you close the trade, if the currency is other than your account currency, you pay 0.5% FX fee. This is only on closing.

And if you transfer another currency to the deposit account, I’ve understood that their banking partner, Barclays Bank does the exchange at their rate and then settles and deposit the funds to T212 accounts. Their rates could be worse.

The team will bring multi-currency accounts soon.

Hope this helps.


Hope they bring the multi currency accounts :slight_smile:


By the way the 0 fx fee for isa is the main reason im with 212. Its a truly unique offering in the broker space and something they should be advertising more.

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