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Multi-currency share and ETF dealing


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I am based in UK and I want to open a share dealing account (not ISA) to invest in ETF and share in USD and EUR directly.
Can someone please confirm the following, as I cannot find any final answers to these in the website?

  1. I can deposit and withdraw USD and EUR from and to my USD and EUR bank accounts (UK based) without conversions
  2. I can trade shares and ETF from US and European major exchanges using the USD and EUR balance directly
  3. I can trade any ETF appearing in the IG Screener

Thanks

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Dear @NicusX,

Thank you for your post and welcome to the IG community.

Please note the following:

1. Manual currency conversion settings allow you to hold multi-currencies within a share dealing account, meaning that any currency deposited will not be converted.

For withdrawals, you can only add one banking details per client, the second banking details will have to be added manually by our payments team and all payments to that bank account will also have to be manually processed by payments ops.

2. Please note that you can only trade ETFs available on the platform. Also, note that retail traders cannot trade US ETFs due to the PRIIPS regulation. Holding or selling existing positions remains possible, however, it is not possible to purchase or expand your holding in these ETFs.

3. Most US ETFs on the screener cannot be traded on a retail account due to the PRIIPS regulation.

Thanks,

KoketsoIG

Please rate us on Trustpilot: IG Trustpilot 

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  • 2 weeks later...

Thanks for the answers.
I created a (live) Share dealing account and set currency conversion to Manual, as suggested.
I have a couple of additional questions.

  1. As a UK tax resident, the account base currency is GBP. Is it possible to change it to EUR?
  2. I would like to be able to deposit AND withdraw in EUR and USD, from my accounts in these currencies. It's all clear for deposits. For withdrawals, I see I can only add the details of a single bank account. Does it imply I will be only able to withdraw to that account? If so, does it mean I can either withdraw to my EUR or USD account, not both?
  3. Related to the previous question: if I can only withdraw to a single registered account, in future will I be able to change the bank details to a different account, make a withdrawal in the other currency, and then change it again to the initial account? I understand this may imply a delay for the verification of the accounts, but I am not expecting to withdraw USD frequently and this would be acceptable for me.
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