Which account currency is right in my case?

Hi all, please suggest which account currency would be right in my case?
My income is in USD which would be the main source for investment. (Also I have some savings in EUR, but they can be invested somewhere else if I have to stick with USD account.) I plan to invest in both USD and EUR equities – I do not know which the portion ratio will be though as I have no experience yet. My preferable withdrawal currency is EUR which is because I live in Europe.
Any thoughts are appreciated. Thank you!

Hello and welcome.

I also live in Europe, use Euro, earn my salary in Euro, and pay taxes in Euro. I chose to set my T212 account in USD though just for the reason that the majority of trading information and discussion is in dollars.

As such, on my US investments I am not affected by foreign exchange, but am affected on my European and British investments.

I am also battling with foreign exchange when depositing money from my Euro bank account to my USD T212 account.

At the moment, I’m gaining money against the pound and losing money against the euro. It all balances out for me really (for now).

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Multi-currency accounts would be fantastic!!

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I recommend that it is simplest to use EUR. 1. That will make money transfer easier and 2. you will more easily have the correct tax records, since dividends and the proceeds of sales will be converted into the correct number of euros on which you will eventually need to figure your tax bill. If you try to run a USD account you will have to make a note of the exchange rate to use for tax reporting, every time a dividend is paid and every time you buy or sell stock. Since Trading 212 charges no currency exchange fee, there is little to be gained by keeping your account in USD. Multicurrency accounts are desired by many - but using them will require substantial record keeping of day-by-day exchange rates in order to figure the correct tax in local currency.

Here is a view:

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Can I still send USD to my trading212 account if its currency is EUR? Will conversion be done automatically and with no exchange fee?

T212 charges my Visa card for my Euro bank account with the correct exchange rate for the day and deposits the amount of dollars I want to deposit.

There is a charge for using card deposits once you deposit more than 2000 now however, so I recommend using bank transfers. In this case, I send money from my online bank to T212 and the currency exchange rate is calculated here.

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