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IG Manual vs Automatic currency conversion and $15 charge


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Hi 

Could someone please clarify what exactly does the conversion fee found on https://www.ig.com/uk/investments/share-dealing/costs-fees mean

"Clients who choose to convert currencies manually will pay commission of 2 cents per share with a minimum charge of $15 on US stocks."

My account is in GBP but all my share trading is in US. So far I've had it set to both automatic and to manual while making deposits and selling and buying shares but as I qualify for zero commission trading, I haven't seen this charge anywhere.

But I 'm a bit apprehensive about this sneaking up on me later on. Have you been charged this $15 per share commission at some point?

Thanks

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  • 6 months later...

im trying to get this question answers as well but good luck trying to get in contact ig customer i didnt get through and they lady was not sure..

there much be a catch for manual conversion u pay $10 usd commission per trade and exchange rate conversion  is 0.007% - with automatic conversion there is no commission charge and exchange rate conversion  is 0.007% is the same as manual...  

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  • 3 months later...
Guest F  Scott

IG staff has just told me today 1:30pm London time. if you use GBP to trade US share, you pay currency conversion fee but qualify for commission free. If you use USD to trade US share, you will not be qualified for commission free but no conversion fee to pay.

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