Buying US shares and broker service

I'm from the UK and want to make some long term investments in US stock. I also want option to swing trade.

I currently have a UK broker, however they charge Fx for international shares both to buy and sell, plus commission on top.

So I think its sensible to open an account where the base currency is in dollars, I would convert funds to dollars once, this then enables be to buy sell without further FX charges.

Is my idea feasible ? I know that some brokers have multi-currency also but not sure if this would assist me.

Thanks
 

hatemypips

Established member
702 62
I'm from the UK and want to make some long term investments in US stock. I also want option to swing trade.

I currently have a UK broker, however they charge Fx for international shares both to buy and sell, plus commission on top.

So I think its sensible to open an account where the base currency is in dollars, I would convert funds to dollars once, this then enables be to buy sell without further FX charges.

Is my idea feasible ? I know that some brokers have multi-currency also but not sure if this would assist me.

Thanks

Have you considered CFD trading? Getting access to US brokers may be a hassle for non-us citizens (know this from my own attempts)
 

Gustavo_ZAM

Junior member
20 0
I'm from the UK and want to make some long term investments in US stock. I also want option to swing trade.

I currently have a UK broker, however they charge Fx for international shares both to buy and sell, plus commission on top.

So I think its sensible to open an account where the base currency is in dollars, I would convert funds to dollars once, this then enables be to buy sell without further FX charges.

Is my idea feasible ? I know that some brokers have multi-currency also but not sure if this would assist me.

Thanks

Hello, have you checked out Interactive Brokers?

I personally don't have an account with them as my trading activity is more compatible with trading with a prop trading firm. Prop firm model also works for swing trades but not long term investing as you have mentioned.
 

awe

Active member
120 8
Interactive brokers. You can exchange all your GBP for USD once and then exchange some or all back when you want to make a withdrawal
 
 
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