Jump to content

Currency conversion


Recommended Posts

I traded a German stock and the platform automatically converted GBP to Euro in both directions. I did not want to convert back to GBP when I closed because I wanted to buy another German stock. I figured out that I had to change my settings so that it should be" manual" but I am not sure how it will work! If I close a trade will the proceeds be kept in Euros in the same GBP share dealing account? And how will I then convert it back to GBP at a time that is appropriate for me? I guess there is no such thing as a multi currency account on IG.  Thank you for any advice.

Edited by krader
  • Thanks 1
Link to comment

Hi there, 

Our Share Dealing account is a multi currency account if you choose the manual conversion on MyIG > Live accounts > Share Dealing > Currency conversion.

This means that our system won't convert any EUR/USD/AUD amounts to GBP when you'll sell your holdings.

If you need to convert the EUR back to GBP just drop us an email to helpdesk.uk@ig.com requesting to do so.

Please note as well that the manual conversion will lead to a change in the commission structure for US stocks. For more info please click here, commission structure .

Regards,

Jakub

Link to comment

Thanks for your reponse. Would have been better if we had a feature so that we could sell the currency for our local currency since by the time emails are read and the conversion finally takes place the price may have moved significantly against us. I have no idea why this feature is missing as IG would still be able to charge its commission regardless.

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
  • image.png

  • Posts

    • It would be difficult and the next line of action would be withdrawal of assets to a good alternative exchange or wallet and observe how the whole drama will end 
    • The recent turbulence in the market has resulted in significant losses and liquidations for many traders. While futures trading offers the potential for rapid portfolio growth, it also carries considerable risks, demanding both bravery and a strong belief in technical analysis (TA). However, despite my attempts, futures trading hasn't been my strong suit. Creating a resilient crypto portfolio doesn't necessarily mean diving into high-risk ventures like futures trading. It took me some time to realize that there are alternative, nearly risk-free methods to build a solid portfolio. Yet, the allure of quick profits in crypto often overshadows the patience required for these strategies. Whether you're involved in futures or spot trading, the market's unpredictability can lead to significant losses, as demonstrated by the recent downturn affecting BTC and most altcoins. Many traders found themselves unprepared, lacking sufficient USDT reserves for dollar-cost averaging (DCA) during market recoveries. Nevertheless, there is hope. For those looking to maximize profits while minimizing risks, products such as launchpools, launchpads, or PoolX offer promising opportunities. Available on various top centralized exchanges (CEX), these platforms involve staking assets like USDT, BGB, BNB, or OKB, depending on the exchange. One observation I've noted is that whenever an exchange announces a launchpool or launchpad event, the value of the exchange token tends to soar. This surge is fueled by users eager to participate and earn complimentary tokens. Following the event, participants can benefit from both the acquired tokens and the increased value of the exchange token. This approach has proven successful for me, as evidenced by the recent ENA launchpool event on Bitget. Have you explored similar opportunities in the past? Please feel free to share your experiences.
×
×
  • Create New...
us