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US Share £ to $ and back again


scc1963

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17 hours ago, scc1963 said:

Hi, I bought a US share in my ISA sold at a small profit.  Once converted back to Stirling it was a loss. Is this just down to IG converting from £ to $ and back again?

Is there an account or another way around this?

Thanks

Hi @scc1963

Thanks for reaching out and yes, that is most likely the case. The charges would be commission and conversion charges. 

With the ISA account, a client would be unable to convert their account to a multi-currency account which enables you to keep different currencies without converting funds after every trade. 

The multi currency setting is only possible for share trading accounts. For multi-currency accounts, clients will pay commission of 2 cents per share with a minimum charge of $15 on US stocks. Changing your currency conversion settings influences the amount of commission you pay. Our team reviews these changes on a monthly basis, so it may take some time to update your account. Please be aware that changing from converting on 'instant' to 'manual' means that you'll no longer qualify for commission-free trading (As shown in the below table)  >>>

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All the best, 

OfentseIG

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