Hi,
I have a simple question that doesn't seem to be getting answered.
From my AUD account, If I buy US shares now from my share trading account what would be the fees and commissions etc in Manual currency conversion vs instant currency conversion when I buy and sell.
Since these are going to be my first 3 trades on IG platform this quarter:
For example if I buy 10 US shares at 500 and sell them at 510 will that mean I will pay 5000*.007 = 35$ + 5000*0.001 = 5$ = Total 40$ Commission to buy
And then if I sell them at 510$ later on:
5100*.007 = 35.7$ + 5100*.001 = 5.1$ = Total 40.8$
So to open and close a position I will pay 80.8$ is that correct.
So if instead of 10 shares i buy a 100 shares i pay 808.0$ in conversion fees and commission just to open and close a position of 50000 is that correct?
Secondly if I switchover to manual conversion does this mean that I pay the 80.8$ initially on any buy trades but at sell time it just gets deposited back into my IG acount in USD separate balance this time?
Thanks,
H
