Buying UK Stocks

poodles

What do you think is the best way to buy UK stocks while using euros?

When you buy and sell a UK stock you have to convert it from Euros - Pounds and back again losing on the exchange rate twice.

I'm sure that there's no real way around this but just asking what you guys would do or would you do anything different?

I'm using a TD account.

ravima

if buying stocks in LONDON, then you must pay in STERLING. You won't lose on the exchange rate if you leave the sterling in your account and when you then buy again, that same sterling is used.

The Pontiac

ravima wrote: »

if buying stocks in LONDON, then you must pay in STERLING. You won't lose on the exchange rate if you leave the sterling in your account and when you then buy again, that same sterling is used.

I was thinking that too ravima. But how will you know the euro rate for the purpose of doing your tax returns (assuming you made a profit)? eg. you sold a stock at a profit last June and the settlement was in sterling and was never converted to euro on that day. Thanks

strmin

You don't have to convert to euro. Just use official exchange rate to do taxes.

http://www.centralbank.ie/frame_main.asp?pg=sta_exch.asp&nv=sta_nav.asp

The Pontiac

strmin wrote: »

You don't have to convert to euro. Just use official exchange rate to do taxes.

http://www.centralbank.ie/frame_main.asp?pg=sta_exch.asp&nv=sta_nav.asp

Thanks a million for that strmin.

poodles

Can anyone recommend a broker that won't take 1.5% commission on each side of the transaction? ..or lower than 1.5%?

Ta

bluenose1956

I use The Share Centre, I think they charge £7.25 per transaction but have a few options depending on frequency of trades.

turbobaby

After getting done over with TD Waterhouse and their 1.5% FX rate, with hindsight I thought it would have been better to open a sterling account with AIB, and transfer sterling into it from my own euro AIB account using transfermate.

Then transfer the sterling funds from the new AIB account to TDW's sterling account.

Or it might even be possible to use transfer mate for AIB € to TDW £.