I was just investigating a strange issue i’d had with the last few US stocks i’d traded, where my actual profit was almost £10 less than the profit that my portfolio told me I was going to make.
I eventually found out that this is because every time I convert my GBP to USD, and then back again, i’m paying an additional 0.45% exchange fee. So that’s 0.9% per trade after you’ve bought and then sold the stock!
Given that a lot of people on here, myself included, intend to only trade US stocks, allowing us to leave our currency on the app in dollars would save us a whopping $9 per buy/sell, meaning we only need to convert them once when we first convert them to dollars, and once more when we’re ready to deposit!