Multicurrency account GBP/EUR/USD etc

@rob Apparently, the exchange rate used by T212 is the same as that quoted for the fx pairs in the CFD account.

T212 charge no fee, but do apply a small spread. At these rates £10000 would buy a number of USD which if immediately converted back into GBP would leave you with £9997. 68 (10000*1.24993÷1.25022).


Similarly 10000 EUR round trip via USD becomes 9998. 90 EUR. These spreads do varying and are not always exactly the same. Target spread for EUR/USD is said to be 0.00008. Below it is 0.00012.


Thanks Richard,

This is great news.

With such a small spread I don’t mind so much, seems good value for the service.


read whole thread. Had precisely same problem as @Vedran demo’ed correctly back in Dec 19’ using Revolut. Devs been silent. I rate this as a nice-to-have, but really would elevate T212 above the comp.

Be nice to hear some news soon.



We are waiting for major release in Mid May, hopefully after t212 consolidates , we can get some feedback on roadmap.

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Plus one for this feature.

Given holding multiple accounts per individual is not allowed (can this be verified somehow?), people with ISAs who also want to not have to worry about FX are basically locked out of USD.

I’d still be happy if officially allowed to open separate accounts; multi currency is the ideal though.

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Plus one for this feature. I mainly trade the US markets, eliminating continuous FX costs will be a major plus.

+1 from me too

I’d love to be able to hold multiple currencies in one account and not worry about FX costs.

Have you studied what the fx costs are on this platform? They are tiny. Nothing to worry about if you are investing for the long haul. It is one of the principal things that attracts me to Trading 212 over other platforms. But I guess if you were buying and selling hundreds of times a day it could add up.

The problem with FX cost is not the spread which is almost zero with T212, the problem is that when you buy a stock in a different currency you are also buying the currency in it. So after let’s say a year you have your stock up 10% but the FX is against you big you may lose all that gain. While if you are holding it in its nature currency, you will sell it at 10% gain and then you can convert the amount back at your main currency whenever is the best conversion for you, thanks to that you can even make more than 10%.
It plays an important factor on the long term in the moment you wanna sell the shares. And same goes for dividends because you don’t have to worry if the day the dividend is paid it’s a bad day for your currency.
It seems small but I can tell you for personal experience that can move easily 2-3% of total value in a year (in my case I also had changes of 8-9% in a year). And I’m talking about EUR/USD which the volatility is low.
As an example in my main portfolio (with a broker with multicurrency account) I have DIS bought in January 2018 in USD, the stock is down 3,41% but I’m actually up 1,22% thanks to the dollar that got stronger. It’s a big difference.
In this case selling it and converting USD back to EUR will give a profit where there is actually a loss in the price of the stock. It would have been profitable even here but the same can happen in the other way around, and in that case here you can’t wait for the right FX price to convert. And this is one of many examples which is convenient the Multicurrency account.
Of course for the amazing features that my other broker gives me there are also not as such great features as T212, plus there is also a price in commissions per trade, annual custody, etc. Each broker, has pros and cons, you need to find the one that suits you better, in my case is T212. This is why as soon as T212 gives the possibility to move stocks from other brokers I will move everything I have there from markets available in here, but I can tell you for sure that if by that time they also have a multicurrency account I will be 10times happier :slight_smile:


I understand what you say completely, but in my experience it is next to impossible to pick the most favourable time at which to make an conversion. FX rates are pretty much a random walk. Numerous times I have delayed making a fx exchange, only to regret later that I did not do it earlier. If you or I really could reliably pick the most favourable time to make fx conversions then we could make zillions trading fx CFDs.

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Good points made.

I for one will consider T212 the ultimate platform in UK/ EU with inception of MC .

Transfer from other broker is a nightmare. I am migrating my US stocks from Revolut onto T212 one-by-one when conditions permit.

You have to factor in the FX as well as the sell commission fee $1.24 a pop, meaning the sell price has to be $3-4 above purchase price to either break even /or make small profit in order the move makes commercial sense (not @ loss) mention the awkward wating around to react to price alerts (as revolut do not have limit executions at all)

Bring on MC asap I say

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There are also a lot of people that hold multiple currencies already in their bank accounts, I for one have them in 3 (RON, EUR, USD).
Transferring them to Trading212 and getting FX costs twice (when depositing and when buying shares) isn’t fun and it slowly adds up over time.

Dividends are also a thing to take into consideration, like Francesco mentioned above.

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Release the features asap T212 for the most comprehensive and capable portfolio tools this side of the big pond , elevating T212 unmatched quality.

  1. DRIP - rebound into same stock and able to rebalance overall portfolio accordingly across different stocks reinvested. Weighted sectors for example.

  2. Multi currency accounts - timing fx notoriously difficult but at least can hold cash in hand to spring into action when required, rather than suffer multi-stage movement G/L.

  3. Conversion /Migration from other platforms
    Make this a smooth transfer.

Do this as well as pile on new stocks /etf, you will be unrivalled against closest competition as the first commission-free trade to do it properly.

That’s my 2 pence anyhow


@regional11 #1 is in the works as part of the big update I believe.

#3 is also a goal T212 wants as it means a lot more people able to transfer in with less issues.

#2 is what we are shooting for as the feature could make T212 the undisputed choice over other EU brokers and platforms.

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+1 vote from me for Multicurrecy accounts.
Revolut does have this feature.
Obviously T212 is making money on the exchange.
At the moment the exchange rate puts me off from investing in US market, and Im not sure if I want to invest in UK market just because I can use GBP.

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I think you might be surprised. The spread between bid and ask on currency exchange as T212 does it is about 0.013%. This is less expensive than any other broker with which I am familiar. It is costing 1.3 per 10,000, which is surely in insignificant territory, certainly not so large as to put one off on investing in US shares.

The practice account is a good place to experiment to learn about the costs of currency exchange.


Those asking for multicurrency accounts will be encouraged by this:


Yes, thats fair enough.

The issue I have is that I allready have funds in dollars which I could directly invest in US market, instead of exchangin it back to GBP then again back to dollars, that way loosing a fair bit.
Please feel free to clarify this if Im wrong, which I very possibly could be, as I am a beginner.

@BarnaK Other brokers with whom I am familiar only allow deposits in one currency, as a part of their anti money laundering safeguards. I think that may be the case with T212, but am not sure about that since I have personally only made deposits in GBP. I know at least one broker who permits withdrawals in different currencies.