Ask your beginners questions here 🐣

Does anybody know of any new startup companies that re on freetrade to invest in. I want to start getting in on the ground floor of new enetrprises like this one.

I think we all would Emmett, unfortunately I believe the rules exclude us from promoting/advising on this forum. Particularly if it doesn’t end well.
All the best my friend.

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Once a company registers on a stock exchange, I really wouldn’t consider them a startup anymore. So, you likely won’t be finding any on freetrade. But there are other platforms for early-stage/crowdfunding, e.g. crowdcube or seedrs. But these investments carry high risks and you should be expecting to lose all your invested money realistically.

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Just something I cant get my head around… when you place a basic order for shares in pre-market and say the current share price is showing at $1 but has gone up by 30 cents in the pre-market, are you paying $1 per share at market open, or whatever the current price will be at market open? Hope that makes sense.

Hey!
Whatever the current price is of course. Since nobody will be selling for $1.

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To add to that as well, basic orders set when the market is closed will also execute at a set time after the market opens. 10am or after for UK stocks, 3pm or after for US ones.

Just for clarification - for anyone reading this in future - and to avoid confusion: you are not placing an order in pre-market. The price you have mentioned and have seen is for people who have the ability to trade in pre-market opening hours.

The Freetrade service: your order will be placed as @JimmyJ has said at a specific time during the next normal open session of the market.

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Does the switch from £ to $ look correct here? I don’t think so?

GBP
image

USD
image

£1828 in USD is not $4107?

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Rough calculation tells me it is correct. The pound has weakened from around 1.29 to 1.13 in the time you have had the shares. Your dollar loss is real. Your pound loss shows you the effect of the currency movement in your favour.

If you are still not convinced or you want confirmation of this, email money@freetrade.io or ping support in the app if your subscription allows it.

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It is nowhere near correct you are right to ask
@bitflip how you get it roughly right?
Civil question not attack
My old school maths when go Spain or America is £1 x 1.14usd currency rate
So that £1828 works out at $2078

I’m am totally wrong or do people agree that’s how it works?

Freetrade doesn’t seems to as free I find a lot of my figures wrong daily? Everyone of my British stocks was in green before American opening bell and I was still down today and American shares was performance great from opening so it can’t be that much fx currency

I have already explained - If you still don’t understand the logic please ping money@freetrade.io so they can explain the consequences of money movements. In summary ones dollar losses/gains can‘t be simplistically converted to pound losses/gains in the way the OP or you have done. The OP has now understood what has happened. The currency moved in favour of the OP.

Guessing you bought these shares a while back?

Conversion rate at time of purchase was 1.3 $ to the £1

Now its 1.13 to looks about right to me.

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That was based on1823 not 1829 and USD 1.15

Quick question where are you getting these was bough for 1.3$ :thinking: am I missing something blatantly obvious :thinking:

Divide the average share price in $ by the average price in £.

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Can I ask when you bought them @GoAt and roughly what price? And Habe you averaged down since dollar was dropping :thinking:

Will probably save all the attacks I’ll probably get and maybe you
:man_facepalming:

Nobody is criticising @GoAt for asking a reasonable question and taking time to understand the answer.

Hey,

For the exchange currency toggle, we don’t do any fx conversion for the exchange currency. In your example, the stock you bought is in dollars. So current value is equal to (amount * current stock price). Average share price is calculated whenever you buy that stock. So in this example, you have ~$4k.1 losses in dollars. But because you bought these when pound was stronger, if you change your dollar investments to pound now, your losses will be only ~£1.8k.

At the same time, your average per share in pounds will be calculated with the fx rate at the time of the buy event. So if you buy over the time, your average in pounds will move differently compared to the exchange currency.

So in other words, Investment gain/loss change is not just calculated with (pounds * current FX rate)

I hope this would make it a bit more clear!

Best

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It is confusing to be fair. im not sure if there’s any info that tells you how it works?

I presume the conversion for the £ average price, is the $£ rate at the time bought for each buy? as the $ and the £ average cost obviously don’t match up with todays rate, but the current value and investment gain/loss is calculated based on todays rate and the average price (and historical rate)

Thats why you’re getting £15 and not £17 , and why you have a loss of only £2k and not £3.5k

correct me if im wrong

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Think we get That thanks for trying to explain but it’s the number we trying to get :thinking:
GBP AVG £15.25
USD AVG $19.76
How is there a £$ 4.5 differential