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tuquoge5401,
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Question
tuquoge5401
Can someone help clarify my understanding on the currency conversion?
Background
1. I have share dealing account and ISA share account.
2. Completely new accounts created this month.
3. I intend to trade only the US stock for now.
Questions I have
1. I made a transfer with USD to my account, referencing my ISA account id. But the money is transferred to the share dealing account, not ISA account. Is this expected? (but this probably doesn't matter as I can easily move money between 2 accounts)
2. The money is auto-converted to GBP. From my research, it seems impossible to set a base currency to USD for these 2 types of accounts. So is it correct that I cannot avoid such auto-conversion?
3. If I move GBP money to ISA account, then buy a US stock. When I sell the US stock, will I get back the money in GBP or USD? i.e. If I buy a US stock, then sell, then buy again. How many conversions will it happen?
Thank you very much for answering!
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