It does seem somewhat bizarre that the spot rate at the mo is 1.151 and clearly at the end of play yesterday or even at 6:01:05 am this morning, when the various stocks I am looking were last updated, the spot rate was not 1.2146. It may be that the FX house that Freetrade use has a weekend uplift (I know this is true for various FX conversion brokers) … but I am flagging this to ask what is happening as I think if there is a bug it needs to be fixed and if it is not then there needs to be FAQ explanation.
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My portfolio is 100% US stocks, thus if anything, the overall value should have gone up not down because of current GBP/USD exchange rate.
Also, if the app is using a wrong exchange rate (i.e. 1.21 not 1.15) after market close, it seems like a serious issue…
Thanks for doing this.
My account has dropped massively despite stocks & USD going up. Must be a glitch… wtf is going on with this app it seems to be riddled with errors lately
Same issue here…noticed it around 10pm yesterday
Please can you also ping hello@freetrade.io it is good for such issues to be logged with support so their operations and support people know these concerns.
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Same has happend to both my GIA and ISA but the value has dropped by around 8% each.
It is extremely flustrating and stressing.
It is the secont time this has happend in the last 3 weeks. I have never experienced anything liek that with other stock brokers. Especislly now with raising fees, those things should now be happening at all. Free brokers I have never had this kind of issues.
Really weird and poor
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It was fixed yesterday for me - account balance now looks accurate (well…I think!)
Yes, I can see by perusing a few stocks is that the FX rate now being used is 1.1519. Last update 4 Sept, 7:50:06 am.
I hope that you pinged hello@freetrade.io for the reasons I stated above.
It is also worth reflecting on the fact that the chart itself in some senses is an illusion of sorts, it really is only indicative, much like the worth of your house … its actual monetary value is only that which you can get in the market at the moment you sell.
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On a slight ( related ) tangent, this bug / feature helps to clearly demonstrate the impact FX fluctuations can have on a portfolio. Perhaps a good reason to include it on returns ( as per a competitor )
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The Euro / Pound rate is still wrong at 1.22.
Hi all!
Very sorry for the recent issue here, and any concern it caused.
As you spotted, over the weekend we were using incorrect FX rates to convert portfolio holdings into GBP, meaning values were shown ~5% lower than they should have been.
This was caused by our FX vendor sending us some incorrect rates, and was resolved for USD/GBP on Saturday morning (3rd Sep) and for EUR/GBP by Monday morning (5th Sep). Historical portfolio values have been corrected.
We’re continuing to follow up with them on the root cause of the issue, and ways to monitor and prevent it from happening again.
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Guess what. It’s happening again on Friday 16 Sep after US market close.
Almost feel like a scheme’s building up to against users’ interests. Haha
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Can confirm that my US prices look wrong at a first glance.
$ exchange rate used seems to be 1.175 ( the € is wrong as well). OK it’s cosmetic and doesn’t impact anything materially, but it’s conversions I can do correctly in 2 seconds via a Google Sheet.
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Again seems to be the case. Now it is happening every week.
My portfolio has dropped for no reason again after 10 pm today…
Anyone else?
Well to be honest I haven’t seen any “Wring” Pricing TBH
Exchange rate?
This might be a small hiccup with the new FreetradeFX platform. It’s not a problem as the rate reverts to live before you can sell anything.
Cc @JamesBell
Not sure if the problem can be explained by the new platform as it seems like persistent for a couple of weeks now. And to be honest, no one can say for sure whether FX rates would revert to normal and correct before trading stocks given the current “messy” situation. 