Brokers to invest in USD securities at competitive exchange rates?

stphnstevey

Voyager2002 wrote: »

Note that the funds to be deposited MUST come from a bank account in the same name, so that would rule out using Transferwise or similar. Personally I do my currency conversions in my Fineco account and then transfer to/from my account with Interactive Investor. The fees for transfers in foreign currency are fairly hefty, but not as bad as the surcharges on exchanging currency within II.

That's really useful to know

Have you tried Revolut? Probably not needed if have Fineco, but just interested to know

May I ask why you use II for trading if you can do the same trading with Fineco? or is it what you mentioned, that Fineco are not offering the investments you want?

They specify it must be a nominated account for withdrawals and you must be resident in the country you hold your bank in
Do you use Fineco for sterling withdrawals as well or do they allow a nominated account for withdrawal for each currency?
I am guessing Fineco bank accounts are seen as a UK account so there is no issue with being resident in the same country?

SouthLondonUser

Thanks for the heads up.


I have double checked in the 'my messages' section of the II website. About 12 months ago, they wrote to me that:

You cannot fund your accounts directly with USD or EUROS you will need to
fund your GBP Account from a GBP Bank Account and then convert GBP to either
USD or EUROS.

I have now emailed them again to ask if that has changed, as the link to their site would suggest, and if there are other fees to receive funds in other currencies.