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Sterling -> euro -> UK shares?

  • 06-03-2014 9:32pm
    #1
    souter
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭


    Hi,
    an Irish resident FOAF will be in receipt of some money from the UK.
    The likely scenario is that this will be converted to euro then invested in stocks via an Irish broker.
    Given some UK stock would be part of the portfolio, are there significant (and avoidable) transaction costs in buying UK stocks in euro after converting from GBP?


Comments

  • #2
    JohnnieA
    Registered Users, Registered Users 2 Posts: 43 ✭JohnnieA


    What broker?
    Depending on the broker there is usually 1-2.5% difference to the mean price when converting currencies. Which will take place twice if you convert GBP to EUR and then back to GBP. But some brokers allow you to buy shares using GBP directly, so these can be avoided.
    Davy online account for example allows you to use EUR, GBP or USD.


  • #3
    souter
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭souter


    It's Davey online, so sorted


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