US Exchange rate

[engineer]

@Han

Freetrade charge 0.45% on forex.

@Rob14

It’s a constant 0.45% which FT doesn’t actually receive as revenue, it goes to a third party.

From ARK Invest’s fintech analyst:

@Rob14

Still, it’s pretty competitive with other brokers charging 2-3 times this amount

If it’s a third party issue, they should change the third party - every US stock trade is painful otherwise. Rev not charging it. Stake charges once to move money into $ account/ once to get out. They don’t have UK shares and ISA accounts though.

[Update:]

Currency conversion display is unclear and needs rates adding

I bought 1 share of Disney at $139.27 (see screenshots) on a basic trade (4pm execution, no fee). Disney is currently $134.16 so I’m down $5.11. Freetrade converted that $139.27 to £108.23 at the time of the trade (see screenshots). Freetrade tells me the current value of my share is £101.44, and that I’m down £6.79. So I’m down $5.11 (share price at purchase - current share price in $) but freetrade says I’m down £6.79. The only way I can see this happening is the GBPUSD exchange rate moving…