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HUGE commission for trading penny stock .

Arun2020

By Arun2020,
in Shares and ETFs

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Arun2020 New Contributor

Arun2020

Posted
Posted

Hi All,

Please let me know does anyone trade US penny stock. When I started trading US stock for all the transaction there use to be currency conversion charge and this was costing a lot.

Since my account base currency was GBP for every trade  in USD I use to pay currency conversion rate which was costing a lot for me . Then I decided to convert all my GBM capital into USD (Stopped instant conversion). However now I can see all my trade per share IG is charging 13 pence from my account . It's almost equal to looting my account 

 

Example : 

Share : Bionano Genomics Inc   Number of share : 5000   share cost :0.48507   total amount : 2425.35 UDS       commission : 100 UDS 

 

FOR A 2425.35 USD  transactions BUY COMMISSION  100  usd  Sell   Commission  : 100 USD .   

Are all getting changed like this for your US transaction ???  

I don't think I can continue trading like this .. this charges are killing my capital .

image.thumb.png.3f616e8a2dc612bbb7ea3a0ef66bd025.pngimage.thumb.png.738402421096358c3eeaad80a0d50960.png

Thanks

Arun

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