So customer service can’t explain properly can someone here please.
If I have this
Screenshot_20201211_175626_io.freetrade.android|230x500
And the fx fee is. 45% per value what does the profit need to show if I want to make a profit?
So customer service can’t explain properly can someone here please.
If I have this
Screenshot_20201211_175626_io.freetrade.android|230x500
And the fx fee is. 45% per value what does the profit need to show if I want to make a profit?
For which stock? Johnson & Johnson? You’re already in ‘profit’, so what are you actually asking?
We don’t know what price you bought at, how many transactions, the date, the exchange rate on the day etc…
I’m not sure what you’re asking as it’s been noted you are in profit. Do you mean how much ahead would you need to be to sell out, take the FX return trip and still make profit? If so that’s tricky as the exchange rate will move around.
I’m not certain how the FX works, but I’d assume, using your numbers as an example, it’s something like:
£100 - 0.45% = £99.55 x 1.32 (exchange rate) = $131.406 x % gain 2.08% = $135.0854, then dividing that by a new exchange rate of 1.331415 bring you back to a sterling position of £101.46 on a 2.08% gain.
I made those exchange rates up to fit the numbers, but it illustrates your gain is made up of two moving parts, the increase/decrease on the stock and the increase/decrease on the exchange rate.
If the stock price and exchange rate stayed constant and you sold to cash then I’d expect what you received would be something like £101.46 x -0.45% = £101.00.
Excellent way of explaining it you covered it thanks so much
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