Can I invest in stocks in Pounds strerling

Randy

I've recently started buying stocks in a well known banking App. I can only invest in US companies and only in Dollars. Problem is most of my gains have been eaten up by the Pound gaining back against the Dollar. It's likely that the Pound will continue to bounce back against the dollar so I'm looking to invest in Pounds. Any ideas

dunstonh

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Randy

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders but I have to fund it in Dollars

wmb194

Randy said:

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders but I have to fund it in Dollars

So look at a British stockbroker e.g., Freetrade, iWeb, Barclays, and many others.

Btw, 'pound,' 'dollar,' 'euro' etc. are written in lower case.

masonic

Randy said:

I've recently started buying stocks in a well known banking App. I can only invest in US companies and only in Dollars. Problem is most of my gains have been eaten up by the Pound gaining back against the Dollar. It's likely that the Pound will continue to bounce back against the dollar so I'm looking to invest in Pounds. Any ideas

You should definitely not invest through a broker that requires you to do so in USD, but even investments bought for GBP are likely to be affected by a strengthening or weakening pound. Many companies have significant income from outside the UK, or buy raw materials that are priced according to international markets. Currency risk is not something that can be avoided by having a GBP cash account at your broker.

jimjames

Randy said:

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders but I have to fund it in Dollars

Are you actually in the UK?

adindas

Randy said:

I've recently started buying stocks in a well known banking App. I can only invest in US companies and only in Dollars. Problem is most of my gains have been eaten up by the Pound gaining back against the Dollar. It's likely that the Pound will continue to bounce back against the dollar so I'm looking to invest in Pounds. Any ideas

As other people have said, if your intention is to buy the UK stocks, it makes more sense if you are using UK brokers in GBP to avoid exchange rate. Also just be aware you get hammered multiples times first conversion to fund your account when you buy and when you sell it.

Examples of brokers /platforms have been given to you. Also it is good if you are using account within the tax wrapper such as S&S ISA and/or SIIP.

Randy said:

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders butI have to fund it in Dollars

With Etoro you could only have US dollar account. So if you trade / invest the UK stock it will be converted to GBP and the later when you sell it it will be converted to USD again. But there is also a small advantage, with eToro you do not pay stamp duty when you buy UK stocks. Also they are fee free platform. But if trade a lot you could also find  near zero fee UK platform such as Freetrade or Trading 212 (they do not take new customer at the moment but you could be put in the waiting list).

Randy

jimjames said:

Randy said:

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders but I have to fund it in Dollars

Are you actually in the UK?

Yes.......

Randy

wmb194 said:

Randy said:

dunstonh said:

Use any UK broker/platform.    Trading is UK listed shares is normal for a UK broker/platform.

Just looked at Etoro. It says it's for UK traders but I have to fund it in Dollars

Btw, 'pound,' 'dollar,' 'euro' etc. are written in lower case.

Oh sorry, will you ever forgive me 🙄

shortseller09

Randy said:

 It's likely that the Pound will continue to bounce back against the dollar so I'm looking to invest in Pounds. Any ideas

What gives you that idea?

bostonerimus

What is this app you are using and why are you restricted to investing in dollars? You say your gains have been eaten up by currency fluctuation and that you recently started buying US stocks...you should not be worrying about the short term. So get a longer perspective and stop investing with foreign currency.