eToro changing default account to GBP

Shedman

Just had email in from eToro

"We’re updating the default account used when you open or close a position on eToro. Currently, trades are funded from your USD account by default - soon, they’ll use your eToro GBP account instead….."

What does this mean for you?

• No conversion fees when trading GBP-based assets.

• You will see ‘Available GBP’ displayed above the ‘Buy/Short/Close’ button on the trade screen (instead of ‘Available USD’).

Prefer to use USD for a specific trade? You can switch between GBP and USD anytime directly on the trade screen.
That's an improvement as it will avoid their lousy USD- £ conversion rates and might actually make them worth considering again perhaps.

wmb194

https://forums.moneysavingexpert.com/discussion/6662977/etoro-changing-default-account-to-gbp

Though it doesn't say that dividends paid in sterling will be deposited in the GBP account rather than the USD account as they are now.

You can use the GBP account now and avoid the FX fees, you just need to be careful to change the account in the trade dialogue box.