nnsha1

Recently open a new IG account to start trading US stock (don't we all like tech & EV waves as it's happening), from Australia. At first I liked the simplicity of transferring the funds, buying the US stock and it auto convert my AUD$ into USD$ basis on the purchase price (spot FX rate, I assume IG platform using). However, I was surprised (and shocked) when I made my first buying / selling, and realized for a small amount $45 USD profit i booked, at the end of the settlement, I have lost the money actually, due to FX conversion. I honestly don't get this, $0 commission but such high cost each time you sell / book your profit / loss? I have similar Stake account which has it's own limitation but other than transferring money in / out, they don't have such surprised (and shocking ) charges. I am happy to be corrected here, but trading on IG platform for US stocks (from Australia at least) is only good if you dealing into higher $ values?