Whatās your point? These approaches will give you an approximate figure, but they wonāt be 100% accurate.
Personally, I just use Xe and thatās close enough for me. However, I was trying to figure out a way to get the actual exchange rate used by Trading 212.
That was my point the CFD isnāt a good representation.
Possibly this
https://www.bloomberg.com/markets/currencies
Currency data is 5 minutes delayed (times in ET) and based on the Bloomberg Generic Composite rate (BGN)
Hi @Y.M ,
Is possible to add the option to see the FX rate in Investment account? Or There are any simple way we can check the rates and some historical data?
Thanks
That may be a good idea, but execuse me if I donāt understand, what is the value of knowing the exchange rate before placing the order?!
I may learn something new today.
hi @Alien ,
I m not saying that is important for everyone.
Just because I donāt care about Pies or linked pies, doesnāt mean for other people has value.
I just like to know how much I m paying por each dollar I m buyingā¦ Just would like to know if is on uptrend or dowā¦
Maybe that option is already on, and I donāt know whereā¦
Have you tried with Google typing in the value to see the trend?
Dollar has had a beating Mar 2020 to Mar 2021
Mar 2009
hi @phildawson ,
I now to search in other apps/websites.
I just asked if is that option on T212 investment account. For the reply I guess we donāt have that option here on T212.
Fully agree. It is a lie to pull in new customers, who will pay various forms of fees, overnight funding, fx etc, who will find that they cannot buy certain stocks on the cfd platform (I personally have not been able to buy more General Electric and others for many weeks now). They call themselves a trading platform but then restrict what you can trade. They have been good at account admin when I have withdrawn funds, and the speed has improved, but I no longer feel as comfortable with T212. Only thing is finding a good alternative without a ton of hassle to move my holdings.
I absolutely condemn Trading212ās decision to introduce FX fees to existing customers. It is commission if they are profiting from FX Fees. From what I understand IBKR donāt charge Trading212 for FX Fees. I understand the debit card deposit fee of 0.7% and their explanation of why thatās not commission because thatās just covering their costs. BUT the FX Fees is commission if they are profiting.
I recall that somebody, who seemed very knowledgeable, explained that Trading 212ās average card fee was unlikely to be anywhere near 0.7%, so they are probably making a healthy ācommissionā on that too.
This might have been the post I was thinking of:
My conclusion is that it is plausible that 0.7% is close to the true blended fee that Trading 212 has to pay and that they are probably making no actual profit because of this fee. Some cards may charge Trading 212 more and others less. The tables in the article show fees for which 0.7% would be midway.
Fair enough.
Is it not possible for Trading 212 to pass on actual fees to customers, or at least have lower fees for debit card transactions?
Iām certain 212 use Adyen for their debit card processing. So 0.7% is about right.
Great source, T212 is doing billions in volume, Adyen is a Tier 1 processor. T212 is using a blended rate for us at 0.7%, some of the methods like iDEAL costs pennies on Adyen, others cost ~1%. So their break even should be around 0.5% (my guess) and a buffer of 0.2% to come to around 0.7%, a safe number.
How much is the forex fee? Sorry if its been answered
0.15%, when both buying and selling.
The expectation is that itāll also be applied once to any dividends you receive and then once more if those dividends get automatically reinvested. I canāt remember if this has been officially confirmed by @Team212 though.
I think itāll also be applied during other actions, such as rebalancing pies.