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Currency conversion - US shares


tadziu321

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I deal with AMD shares which are in dollars of course.

I did spoke through Live Chat about this twice already but i'm still confused which option is better Manual or Instant under currency conversion menu.

"Better" i mean cheaper if we talking about couple orders per month and fees for currency conversion. 

Second thing is that under My IG menu / Overview / Balances - all amounts are always shown in pounds and you need to figure out by yourself which amounts are really in pounds and which are only equivalent of dollars shown in pounds which makes people confuse.

When i open a new ticket to buy shares and my currency setting is MANUAL i need to figure out using calculator and currency rate of what is equivalent of dollars in pounds cos that indicator just disappearing on tickets after you switch from INSTANT to MANUAL.

Both recurrences amounts should be shown on the ticket also under My IG menu / Overview / Balances at all time does not matter if you are using INSTANT or MANUAL.

The only place where i can see any split values of dollars and pounds  is a platform itself under OPEN POSITIONS.

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14 hours ago, tadziu321 said:

I deal with AMD shares which are in dollars of course.

I did spoke through Live Chat about this twice already but i'm still confused which option is better Manual or Instant under currency conversion menu.

"Better" i mean cheaper if we talking about couple orders per month and fees for currency conversion. 

Second thing is that under My IG menu / Overview / Balances - all amounts are always shown in pounds and you need to figure out by yourself which amounts are really in pounds and which are only equivalent of dollars shown in pounds which makes people confuse.

When i open a new ticket to buy shares and my currency setting is MANUAL i need to figure out using calculator and currency rate of what is equivalent of dollars in pounds cos that indicator just disappearing on tickets after you switch from INSTANT to MANUAL.

Both recurrences amounts should be shown on the ticket also under My IG menu / Overview / Balances at all time does not matter if you are using INSTANT or MANUAL.

The only place where i can see any split values of dollars and pounds  is a platform itself under OPEN POSITIONS.

HI, IG use the same conversion formula (current rate + commission 0.5%) so instant or manual being better or worse is dependent on the current rate. 

You might be better off having 2 accounts, one in $ and the other in £ so you can keep a certain amount in $ for placing trades and only converting profits to back £ occasionally.

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On 01/11/2019 at 17:43, tadziu321 said:

I deal with AMD shares which are in dollars of course.

I did spoke through Live Chat about this twice already but i'm still confused which option is better Manual or Instant under currency conversion menu.

"Better" i mean cheaper if we talking about couple orders per month and fees for currency conversion. 

Second thing is that under My IG menu / Overview / Balances - all amounts are always shown in pounds and you need to figure out by yourself which amounts are really in pounds and which are only equivalent of dollars shown in pounds which makes people confuse.

When i open a new ticket to buy shares and my currency setting is MANUAL i need to figure out using calculator and currency rate of what is equivalent of dollars in pounds cos that indicator just disappearing on tickets after you switch from INSTANT to MANUAL.

Both recurrences amounts should be shown on the ticket also under My IG menu / Overview / Balances at all time does not matter if you are using INSTANT or MANUAL.

The only place where i can see any split values of dollars and pounds  is a platform itself under OPEN POSITIONS.

@Caseynotes Is right about the rate being the same if it's manual or instant. 

 

If, however, this is a share dealing account you're not allowed to have an account base currency in anything but Sterling. It may be best to have a manual account. That way when you sell dollar stock, the funds can stay on the account in dollars. Meaning next time you want to buy US stock we don't have to convert and charge you we will just use funds from your dollar pot.  

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