Selling US stocks and keeping the cash in $ to reinvest

[Rima]

Can anyone guide me? I have invested in some US stocks using GBP to buy them in USD. Is there a way I can sell my stocks and keep the proceeds in USD first so I don’t lose on the exchange rate and second so I can reinvest in different US stocks? Thanks!

[CharlotteIG]

On 06/09/2020 at 10:33, Rima said:

Can anyone guide me? I have invested in some US stocks using GBP to buy them in USD. Is there a way I can sell my stocks and keep the proceeds in USD first so I don’t lose on the exchange rate and second so I can reinvest in different US stocks? Thanks!

If you have a Share dealing account you can change the conversion to manual which means we will not convert the funds for you. This can be done on the my IG page by selecting Currency conversion. 

If you want this for a leveraged account please reach out to us so we can speak with you over the phone. 

All the best 

[Guest Lily]

Just to note if you do this you won't be eligible for the zero commission on trades.

[JackWB]

On 07/09/2020 at 15:49, CharlotteIG said:

If you have a Share dealing account you can change the conversion to manual which means we will not convert the funds for you. This can be done on the my IG page by selecting Currency conversion. 

If you want this for a leveraged account please reach out to us so we can speak with you over the phone. 

All the best 

Hi CharlotteIG,  I recently found that my Currency conversion setting was set to Manual. However, on recent U.S share sales, the value of these sales went straight into GBP (My share dealings acc is GBP default), while I paid the $15 per share trade cost under the Manual setting instead?

Any help would be appreciated

Best wishes

Jack

Edited March 30, 2023 by JackWB
spelling

[BabisG]

@CharlotteIG why is this manual currency conversion option not available in my SIPP? I saw a few months ago it was available and then it was taken away again.

[KoketsoIG]

Hi @BabisG,

Thank you for the post.

We would like to acknowledge your recent posts to our community, most of which were made over the weekend.

We are sorry that the service you received from customer services was not up to your expectations and that you are having problems with our platform as well.

Please note that we have sent you a private message addressing most of your posts.

Have a great day ahead,

KoketsoIG