Hi,
I'm new to this so please do excuse me for my ignorance.
Can you please explain what commissions/fees/charges and how they are applied when placing a trade to buy shares of an Australian company on the ASX from an ISA account?
For example, if I was to buy £5,000 worth of Australian shares priced at AU$0.0.450, exactly how and at what stage will the fees/commissions/charges apply? I've had a look at my statements but even then the figures just do not add up for me.
From the fees/commissions page on your website I've understood the following:
AU$10 commission is applied for trading Australian Shares - at what stage will this commission be applied? After the conversion of currency?
Foreign Exchange fee of 0.5% - at what stage is this fee applied and is it applied to the total sum?
So going buy the above example and the below assumptions, I would assume the fees/commissions/charges are applied as following:
Assumptions
GBP £1 = AU$1.83
Amount being spent t buy shares = £5,000
Share Price of stock = AU$0.0450
Calculations
£5,000 = AU$9,150
Foreign Exchange fee of 0.5%, so 0.5% of £5,000 = £25, now total is £5,025
AU$10 commission for buying Australian shares - now total is £5,025 + AU$10 (£5.47 according to above exchange rate) = £5,030.47
Then you have your custody fee of £24 every quarter for the entire ISA account no matter how much is being held in it in terms of capital and gains? Is this correct?
Would really appreciate if you can clarify and break this down for me.
Thanks