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Manual Currency Conversion


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Just updated settings for currency conversion from instant to manual. I understand, from now on, I pay commission of 2 cents per share with a minimum charge of $10 on US stocks while on instant it was $0. But, the real question is:

- how do i transfer my AUD in my bank to USD on IG. Is bank transfer option (With the acct/swift code from IG) the only option?

- what happens when US stock gives divided? does it get transferred to AUD or will it remain somewhere (dont know where) on IG in USD itself? 

- what happens when I sell USD stocks? same as above, where do i manually transfer it back to AUD?

 

Cheers

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1 hour ago, tintin said:

Just updated settings for currency conversion from instant to manual. I understand, from now on, I pay commission of 2 cents per share with a minimum charge of $10 on US stocks while on instant it was $0. But, the real question is:

- how do i transfer my AUD in my bank to USD on IG. Is bank transfer option (With the acct/swift code from IG) the only option?

- what happens when US stock gives divided? does it get transferred to AUD or will it remain somewhere (dont know where) on IG in USD itself? 

- what happens when I sell USD stocks? same as above, where do i manually transfer it back to AUD?

 

Cheers

Dear @tintin,

Thank you for you are correct in your first paragraph. Please take note of the following:

- On the manual settings, any AUD you deposit will remain AUD, you will have to convert the funds to USD from the settings once they are in your account. You can do this from Live accounts > Currency conversion or you can ask our payment operations team to do it on your behalf. 

- On the manual settings, the funds will not be converted but will remain in USD in your account.

- Manual settings allow you to hold multiple currencies, you can choose to have some of your AUD deposited converted to USD so that they will be used for all USD trades. You can do this on live accounts > currency conversion as mentioned above.

Thanks,

KoketsoIG

Please rate us on Trustpilot: IG Trustpilot 

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