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Convert sterling account into dollars.


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On 27/03/2023 at 20:02, johnny25 said:

Am I able to convert my share trading account from sterling into dollars to trade with, as I mainly trade US stocks?

Hi @johnny25

Thanks for reaching out. 

You can have a multi- currency account which enables you to have different currency balances in your share trading account. You can change it from your My IG. Please log into your account from the desktop, on My IG, select the tab 'Live Accounts'. You will have the option to change your conversion settings from 'Daily' to 'Manual' from the option 'Currency Conversion'. 

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. 

All the best, 

OfentseIG

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On 04/04/2023 at 19:15, johnny25 said:

Thanks for the reply. So if I buy US stock I pay a minimum of $15 on the purchase and $15 on the sale (commission). All my sale proceeds will be kept as dollars and not converted back to sterling. Is this correct? Thanks.

Hi @johnny25

Thanks for reaching out. 

Yes that is correct. 

All the best, OfentseIG

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