Jump to content

New to US stock market trading

Recommended Posts

Recently open a new IG account to start trading US stock (don't we all like tech & EV waves as it's happening), from Australia.
At first I liked the simplicity of transferring the funds, buying the US stock and it auto convert my AUD$ into USD$ basis on the purchase price (spot FX rate, I assume IG platform using). 

However, I was surprised (and shocked) when I made my first buying / selling, and realized for a small amount $45 USD profit i booked, at the end of the settlement, I have lost the money actually, due to FX conversion. 

I honestly don't get this, $0 commission but such high cost each time you sell / book your profit / loss? I have similar Stake account which has it's own limitation but other than transferring money in / out, they don't have such surprised (and shocking ) charges.

I am happy to be corrected here, but trading on IG platform for US stocks (from Australia at least) is only good if you dealing into higher $ values? 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 26/09/22 11:45
  • Posts

    • In this week’s Trade of the Week, IG market analyst Axel Rudolph FSTA looks to go short the DAX with a stop-loss at 12,950 and a downside target at 11,400. He also looks at last week’s trade, which was long the Volatility Index.        
    • Charting the Markets: 26 September FTSE 100, DAX and S&P 500 hold their ground in early trading. GBP/USD at 37-year lows, EUR/GBP at 2-year highs and EUR/USD at fresh 20-year lows. And gold, Brent crude and lumber head lower as recessionary fears lift the dollar.     This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Hi @Xandy Your requests have been submitted. Thank youAll the best - MongiIG
  • Create New...