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Trading US stocks in Australia


tb0033

Question

I had a couple of questions that I would love to have information on. Firstly, I own some US stocks already on IG but I didn't really understand the fees involved in that process. Including fees to do with the change of currency involved. I am seeking clarifications what they are on this platform. Also if I own US stocks and sell them do they immediately change the US money back to the Australian dollar? Im looking at buying another US stock and don't really want to have to exchange the currencies twice especially if there are fees involved. Any help would be must appreciated.

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Hi @tb0033

You are charged in one of two ways. 

If your account is on instant currency conversion:

Commission on US stocks, Free

FX conversion fee, 0.7% spread on exchange rate at time of execution

 

If your account is on manual conversion (Multi-currency account):

Commission on US stocks, 2 cents per share with a minimum $10 charge

This information is available from the following link:

https://www.ig.com/au/share-trading/charges

All the best, 

Anda

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