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book cost fluctuation ????


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New here as taking my first steps in share dealing, I am confused by the accounts figures, book cost is constantly changing , I buy only US stocks, I have taken off the commission charges for my stock buys but now my profit and book price do not add up to the amount less charges I initially put in . its about £600 less.

why is the book price constantly fluctuating and not fixed as per my buying price and why is it less than it should be ?

Am I missing something  any Ideas guys are there added charges I am not aware of ?

Gary 

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At a guess, it's because the base currency of the stock is different to the base currency of your account and so it is being affected by fluctuations in the exchange rate.

Saying that, I don't know for sure so it might be worth contacting the helpdesk to confirm the reason for the variance.

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Seems IG takes 0.5% profit at sell and buy time and exchange rate fluctuates at sell and buy times too. I don't know if IG allow to keep your fund in USD , trade in USD and keep profit in USD at convert at your discretion to avoid losing at each trade.  My current understanding is , if we make 5% profit on a trade and USD/GBP fluctuate in your benefit by 1% you almost make 5% profit , since 1% IG conversion rate is covered but if exchange rate fluctuates against your benefit by 4% , your 5% profit is gone through 1% IG and 4% FX rate. IF you find out how to set multi currency , please let us know. 

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    • Hi @Kgrp74 Thank you for reaching out.  HMRC rules don't allow you to hold foreign currency in an ISA, but you can still buy international shares. The gains on currency conversions are only seen and credited in the account once you sell the shares if the currency rate is favorable to you. We also have to consider the 0.5% spread added to the exchange rate and commission charges which would normally offset your profits.  Thanks, OfentseIG
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