Currency conversion for shares

[Han7]

Hi,

 

I have a simple question that doesn't seem to be getting answered. 

From my AUD account, If I buy US shares now from my share trading account what would be the fees and commissions etc in Manual currency conversion vs instant currency conversion when I buy and sell.

Since these are going to be my first 3 trades on IG platform this quarter:

For example if I buy 10  US shares at 500 and sell them at 510 will that mean I will pay 5000*.007 = 35$ + 5000*0.001 = 5$ = Total 40$ Commission to buy

And then if I sell them at 510$ later on:

5100*.007 = 35.7$ + 5100*.001 = 5.1$ = Total 40.8$

So to open and close a position I will pay 80.8$ is that correct.

So if instead of 10 shares i buy a 100 shares i pay 808.0$ in conversion fees and commission just to open and close a position of 50000  is that correct?

Secondly if I switchover to manual conversion does this mean that I pay the 80.8$ initially on any buy trades but at sell time it just gets deposited back into my IG acount in USD separate balance this time?

Thanks,

H

Edited November 25, 2020 by Han7