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How is share trading commission fees calculated. Im in Australia

aneelmatt

By aneelmatt,
in Shares and ETFs

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aneelmatt New Contributor

aneelmatt

Posted
Posted

Hello

 Appreciate any answers to clear this doubt. 

I have noticed that- when i buy US shares from Australia, the Australian dollar is converted to US dollar. There is an exchange rate visible in the trading history. 

Does IG up the exchange rate when buying? 

Also, when selling I have noted the exchange rate is different again. There is usually a 2 cent USD difference for every USD bought and sold. 

For some trades, I have calculated that IG has charged AUD 1400. That's significantly high. As if i buy 'X' shares i am paying approx.- AUD 1400. And when i selling the 'X' shares i am again paying AUD 1400.  And because of IG charging so much on exchange rates, I have to have a minimum of AUD 2800, profit to break even. 

Are there any brokerage firms which are more economical or cheaper? 

Any advice is appreciated. 

 

 

 

 

 

 

 

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