Help with price when buying a stock and FX rate

Hello,

Yesterday Iāve bought one share on FB as a test. According to Freetrade, Iāve bought it for Ā£152.17. Ā£1.00 = \$1.24The latest price reported was \$187.99. I do know that Freetrade has a 0.45% FX exchange rate however when I run the numbers Ā£152.17 equals \$189.47 using this rate? Can someone help me understand the FX rate as of what I calculated ends up 0.80% Fx rate? I presume my math is wrong and Iāve tried to reach Freetrade but havenāt got an answer. I did this as Iām planning to invest another 5k in the next week or so and I already invested more than 3K and Iām concerned with those charges

Thank you

Apologies āI do know that Freetrade has a 0.45% FX exchange rate however when I run the numbers Ā£152.17 equals \$189.47 using this rate?ā \$189.21 not 0.47

Where are you getting the fx rate from? If I go to place an order for a US stock I get an estimated fx rate but the buy note doesnāt have the actual rate on (though I can work it out).

Here the rate is exactly the same as on the purchase order from Freetrade

When you say the latest price, was that the price displayed on the app before purchase?

But that isnāt necessarily the rate that youāre getting on your purchase - that is a rate shown on a different website! As I said the FT purchase page gives you an estimated exchange rate not a final exchange rate.

I think the discrepancy you are seeing is the difference between the estimated rate and the actual rate.

Discrepancy itās almost \$3 itās way too big for the amount. Iām still waiting for replay from free trade team since yesterdayā¦

Your starting point is an incorrect assumption on two areas ie:

• that you have been charged \$1.24:Ā£1 + 0.45%.
• the price that you paid in USD for the share (latest price is a delayed price and is not the actual price that you paid)

As you acknowledge in your original post the actual FX transaction looks more like 0.8% ie 0.35% more than the 0.45% FX charge, however my point is that the 0.35% could easily be the difference between a dollar rate of 1.24 and what you were actually charged. Without knowing the actual dollar rate you were charged you donāt know (or the USD amount) - it may have been that rate was 1.22 or even lower.

Similarly on the share price you donāt know the actual USD amount you paid - it could have been \$188/189 - the closing price yesterday was \$190 so you have done better than that.

Unfortunately the FT contract note doesnāt give you enough information as it only has the GBP amount and not the USD amount. That looks like one of the areas that is being improved with fractional shares as the contract note contains a lot more information.

What you saying it does make sense. Wish was more clear to be honest. This was a simple test however if I decide to drop 5k there is absolutely no forecasting how much I would be charged.

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