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    • Home • Advice • Common questions

    Can you recommend a platform where I can buy/sell in US dollars and only convert back to sterling at a time I choose?

    16 February 2021

    Question by Iain

    Through Hargreaves Lansdown I have invested in a number of US companies in the last year and have enjoyed some profits. By far the biggest cost in these transactions have been currency FX charges, which is annoying when I would want to take the sale funds and buy further US shares. Can you recommend a platform where one can buy and sell in US dollars, holding any cash in USD and only convert back to sterling at a time of one's choosing?

    Answered by Nicola Crosbie

    Iain, a platform like Interactive Investor could solve the problems you have had in the past. You are able to continue to trade in US Dollars, buy/sell and only pay for currency conversion when you wish to convert back to UK Sterling. Here is the website link for more information on their proposition and charging structure for your comparison: https://www.ii.co.uk/investing-with-ii/international- investing/get-started-us-share-trading

    Answered by

    Nicola Crosbie

    Chartered Financial Planner

    With 20 years’ experience behind her, Nicola takes a coaching approach to financial advice, helping even the most nervous investors to take control of their financial situation by empowering them to make more confident, positive decisions for the future. Based in Lochwinnoch, Scotland where she is the Director of Moran Wealth Management Ltd, thanks to secure remote-working practices Nicola supports clients all over the UK.

    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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