Dear T212 Community.
If I’m mistaken, please let me know.
I received a Contract Note Statement from Trading 212
Please help me to understand what I’m reading (see attached).
According to what I’m reading, Charges and Fees are £0.02 GBP and the Exchange Rate is £0.01.
However, I’m based in the UK so don’t understand why an Exchange Rate has been applied to a UK stock - Halfords UK, much less why charges and fees have been applied.
Thanks in advance, for your help and advice on this.
Your picture never uploaded, but my contract note usually shoes the exchange rate as a value of the conversion, not the cost.
Fees and other charges may be the stamp duty which is placed on U.K. shares, but I’m not sure never look closely at my contract notes
This should be the image:
He linked it wrongly.
Ok well the fees look for sure like stamp duty. And the contract notes can be wrong. Looks like exchange rate should be 1 but for some reason it’s 0.01, probably a decimal issue. Not too sure though
The 2p of fees is for the tax or duty of 0.5% on the transaction. As you can see if I try to do the same transaction with the same amount you paid, I’ll pay 2p in fees.
I uploaded the image using the upload icon…not sure what happened during that process.
Either way, thanks for the responses, Gents!
exchange rate is 0.01 because most stocks listed in LSE are denominated in pence (GBX) and 1GBX=0.01GBP