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 Feb, 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.

Passionate about the power of education and the importance of using financial advice as a force for good in society, Nicola holds a Masters in Wealth Management and is a Chartered Financial Advisor, a Fellow of Personal Finance Society, and an accredited Society of Later Life Advisor. Moran Wealth Management meanwhile is proudly accredited by the Good Business Charter, and supports the most vulnerable groups in the local community through a structured programme of regular charitable giving. An art lover, Nicola is never happier than when learning new skills or spending time with family and friends – but never in high places!

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