Jump to content
  • 0

Currency conversion - Auto v Manual

Guest Pconroy23


Guest Pconroy23



I'm new here and wonder if anyone can help me on working out which is best when it comes to currency conversion, either auto or manual. 

I plans to trade US ETFs mainly SPY MDY QQQ SVXY. I will average over the 3 plus trades a month to qualify for zero commission on US ETFs but if I’m in manual currency the zero commission doesn’t apply and a min charge of $15 USD or 2 cent per share. 

 Is manual currency conversion only cost effective on larger portfolio sizes?

Also with manual conversion, once converted  to usd and ETF bought, if I sell the ETF I will receive USD and can buy more US sticks without another conversion cost? Therefore only needing to convert back to £ when withdrawing? 

Any feedback and advice would be much appreciated as I don’t want to have to keep paying the 0.5% conversion charges as I feel these costs will add up to a lot overtime 



Link to comment

0 answers to this question

Recommended Posts

There have been no answers to this question yet

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 04/10/23 17:01
  • Posts

    • Summary: Still expecting another low for indices, the current move up part of a corrective rally. Normally I look for indices lead from stocks, however some stocks are displaying strength and some weakness so this mix bag is showing up in the Nasdaq 100 pattern as a probable wave four triangle at the current low. Trading Strategies: Nil Video Chapters 00:00 SP 500 (SPX)  05:02 NASDAQ (NDX) 08:26 Russell 2000 (RUT) 10:43 DAX 40 (DAX) 16:07 FTSE 100 UKX (UK100) 22:15 ASX 200 (XJO) 38:47 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com   Access Trial  
    • A lot of transformation is happening to BNB at the moment with the integration of bitcoin lightning network and Optimism especially with opBNB birth but that has not reflected in users confidence primarily because of the many negativities surrounding the platforms operations in North America and Australia. BGB on the other is gaining traction and value because a lot of investment is going into the development of the ecosystem recently with the injection of $100M and also improved partnership deals
    • I know we still have a lot to do to attract massive crypto adoption but steps like those taken by Binance and bitget in the wake of what happened to FTX is commendable in righting the wrongs of the lapses and loopholes that exist pre-FTX saga. But more still needs to be done to restore confidence to the level it was pre-2020 bear market like consistent regulatory framework and regular security updates by crypto platforms
  • Create New...