Profit seems way to low

paul epc

Newbie
2 0
Trading from the UK I bought 82 VW shares @ 303 euros Sold for 312 euros profit before commission 738 euros actual profit
I received was 345 euros.
Why is there such a difference? Using the IG trading platform.

Thanks
 

mpups

Experienced member
1,023 143
Trading from the UK I bought 82 VW shares @ 303 euros Sold for 312 euros profit before commission 738 euros actual profit
I received was 345 euros.
Why is there such a difference? Using the IG trading platform.

Thanks
No idea, do you have any screenshots of buy/sell transactions ?
or did you solve the issue?
 

paul epc

Newbie
2 0
Don't have screen shot. did not resolve. But I think its a .5% conversion charge on both buy and sell. when you add this up its horrific I am looking into how to get around the 1% total charge. If anyone has a solution please shout out
 

mpups

Experienced member
1,023 143
Don't have screen shot. did not resolve. But I think its a .5% conversion charge on both buy and sell. when you add this up its horrific I am looking into how to get around the 1% total charge. If anyone has a solution please shout out
Oh right, I agree this was what reduced your profits
 

MasterOfCoin

Experienced member
1,228 480
I presumed this would be the cause.

It's almost always preferable to hold a reserve of the currency you wish to make trades in. Then you can trade freely without consideration to double conversion fees and make bulk conversions when rates are favourable for the direction of exchange.
Of course, not all brokers will support your holding trading accounts in multiple currencies, but there are many that do.

It's certainly something worth considering if you intend to trade frequently in international shares on multiple markets.

:)
 
 
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