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How to trade with USD account

Amircrown

By Amircrown,
in Shares and ETFs

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Amircrown New Contributor

Amircrown

Posted
Posted

I'm in Australia, but I'd like to add USD fund into my shares account and buy in stocks from the US market. I turned off auto conversion on the account, so my USD does not convert to AUD. Now, my question is if I buy US shares with this account (with USD fund) then do IG turns my USD to AUD and again AUD to USD to buy the shares? Or they buy the US shares using the USD fund I transferred to my account with no conversion?

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JamesIG Esteemed Contributor

JamesIG

Posted
Posted

the system will purchase shares in the base currency you have to reduce any need for FX conversion. 

For example, say you have $1000 and A$700. If you were to purchase $1200 of a US stock, it would use the $1000 in USD, and then convert the remaining $200 required from your A$.

If you were to only buy $800, it would take that from the USD value, leaving you with $200 and the A$700 would remain untouched. 

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