Can Avg Cost be used instead of FIFO?

Ideas 💡
1

The gains and losses displays on my current holdings, are calculated using FIFO.

Is there a reason why FIFO is used? Can it be changed to average cost for UK users? That would be more helpful for most users I believe (thinking section 104 rules).

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2

Fully agree with you. I’ve said this on other threads, FIFO is irritating and completely useless as far as I’m concerned. Thank God I can at least keep track using AVCO on my Excel spreadsheet!

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Glad I’m not the only one.

I contacted freetrade directly but only got an explanation of what FIFO is (I already knew) rather than why it is used.

Hopefully we can drum up some support in here

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Agree completely. FIFO waste of time and misleading.

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5

Completely agreed. I’ve also mentioned elsewhere and also made a specific point in one of the customer surveys that came my way recently. If people prefer FIFO then give us an option to change it in settings. From my understanding FIFO came from stock inventory where you would want to sell oldest item first but makes no sense where you might want to average down during market downturn.
Another option would be be sell specific purchased shares where the cost of those shares are already known.
I suspect this is not going to change anytime soon

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6

Yes, I would like to see this change as well.

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7

I completely agree too.

It completely skews results and prevents you from correctly tracking your progress in a stock.

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8

Agreed. Can this thread be turned into a suggestion?

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9

OP would have to move it or someone make a new thread.

I also agree with what’s said here

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10

I managed to move this and voted. I didn’t know I could do that.

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