Currency Charges with Brokers

poodles

Just wondering what others get charged on currency rates when they buy UK shares.

I'm using TD Waterhouse.

I have €5k worth of euros that I transfer to my TD Account in Euros.

When I decide to buy a UK share I select the settle the trade in Euros, but because it's a UK stock in GBP, I am charged 1.75% over the base FX rate (from fxstreet.com / xe.com etc.)

When I decide to sell the stock, I elect to settle the trade in Euros - again I am charged 1.75% on top on the conversion back to Euros (to transfer it to my Bank of Ireland Account)

I was just wondering if this percentage charge is the norm with other Brokers?

xertpo

This is the rate Goodbody gave me on 1/4/2011 when I sold sterling shares

Exchange Rates EUR/GBP = 0.89105131

poodles

xertpo wrote: »

This is the rate Goodbody gave me on 1/4/2011 when I sold sterling shares

Exchange Rates EUR/GBP = 0.89105131

What time was the trade executed at?

xertpo

poodles wrote: »

What time was the trade executed at?

01/04/2011 10:36 Sell

poodles

Live rate at that time was about 0.88089 (xe.com)

So the charge was about 1.15% ?

xertpo

Sounds about right.

Their platform is useless to trade with.

poodles

xertpo wrote: »

Sounds about right.

Their platform is useless to trade with.

I used them at first - worst platform ever. And their commission is crazy high..


ODL Charge 1.5% on anything under 20k

whysomoody

guys you are always going to be charged a few basis points n currency unless youre trading in millions.