Multicurrency account GBP/EUR/USD etc

Feature suggestions & ideas
#183

Ok calm down please. If you were able to sell that stock at the point of your screenshot, and keep funds in USD, you would still have the same unrealised FX impact to GBP because the sale proceeds would be in USD is all I am saying, it just wouldn’t be as visible as in the screenshot. That was all I was pointing out. I don’t see how it is causing an unnecessary loss, more just realising a loss sooner than you may have chosen to do so by applying the FX back to the purchase currency at point of sale.

I do see the advantage of keeping the sale proceeds in USD, to save the spread if you wanted to purchase another USD stock, or apply the FX at a time of your choosing. There may be other advantages I’m not aware of.

I was also keen to understand other brokers that had multi currency as well. Thanks for this I will look into them.

#185

From the wording of your own post it read like you were having a bad day and being patronising yourself/venting, or misinterpreted the point where I was trying to be helpful and asking questions to find out more. Things get lost in words sometimes.

Fidelity/Hargreaves also offer basic broker services without multi currency at a much higher cost, but then they are more aimed at those looking to invest in funds not trade shares.

I wish you well and have a nice day.

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#186

That’s a very sad news :frowning: @George
Any idea when or if it is on “to do list”?

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#187

what happened to change your minds?

3 Likes
#188

What about at least removing the limit of one account per person? e.g. I have a GBP account but would like to open a CZK one too if you won’t do multi-currency accounts

4 Likes
#189

I know it’s a bit sad. It’s one of the most requested features. But I guess we have other features prioritized more.

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#190

I cannot deposit into T212 without fees so I was forced to start using another broker. 0.7% fee for credit card deposit doesn’t seem much but it adds up to significant amount long-term due to loss of potential compound interest from that amount paid for fees. Don’t get me even started on SWIFT…

2 Likes
#192

Dear @George,

Thank you for the clarification about the topic. This is a very sad news since this was really the feature I was hoping the most.

Could you maybe envisage not a fully multi-currency account but a system where when we want to do a deposit we could select the currency of our deposit and then when you receive it you convert it to the currency of our account (something similar as when we buy stock in another currency). I ask a feature like this because I have read on this forum that your intermediary Barclays does not use a very interesting rate but maybe this has changed.

Or maybe could you confirm that you are working on a way to deposit for free on the plateform ? In my case, I live in Switzerland but have a USD account on your plateform and thus have no ways to deposit for free.

Thank you very much in advance for reading my comment.

I wish you a nice day !

1 Like