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Multi Currency Client Funds


Guest **** A

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Guest **** A

Tried calling the support line, but gave up after an hour or more on two occasions.  I'm a new trader. I have base funds in both Sterling and AUD. I plan to do a Forex trade to $US from these two base funds, until the Corona Virus issues stabilise and think there is a bottom to the share market. I then intend to actively trade in shares.

I understand that I don't actually "own real" $US when I forex buy US$ using the Sterling and AUD base funds in my account.  I assume that this means that I cannot use the $US I have as part of my Forex trade to buy US company shares priced in $US. In that instance, would I have to sell, converting the Forex $US, back to the base currency in which I bought them (for instance pounds), then convert the pounds to $US at your conversion rate of 0.5% (or less) before being able to purchase US shares in $US.  

Would equally be happy with comments or a link, as to where I can find this information.  

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If you change your 'currency conversion' setting to 'manual' from the main IG page, you could keep multiple currencies once you sell any investment in a foreign currency. Initial Trade / Investment would have to be converted at the time of trade IG's conversion rate. I am also in similar position and luckily got through on the phone in a few minutes. 

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