What is a multi-currency account?
Trading 212 Invest is a multi-currency account that allows you to hold money and trade in multiple currencies. This means you will no longer have to convert money and incur FX fees each time you trade in a different currency.
Tap your ‘Free funds’ to reveal the currency balances.
The supported currencies for now are GBP, USD, EUR, CHF, DKK, NOK, PLN, SEK, CZK, RON, BGN, HUF, CAD.
Do CFD accounts and ISAs also support multi-currency?
At this stage, only the Invest account is supporting multi-currency.
Can I convert funds between currencies directly in the app?
Yes, you can convert funds instantly. Even on weekends.
Is the 0.15% FX fee removed?
Our 0.15% FX fee continues to apply on currency conversions.
We use the live interbank rate, the same rate banks use to convert currencies with each other.
There are no extra FX costs. You'll never pay more than 0.15%, even on weekends.
Dividend payments remain exempt from the FX fee.
What is a primary currency?
The primary currency is the currency you choose when you initially open your Trading 212 account. It serves as the default currency for displaying your account value, positions, results, reports, statements, etc.
Can I change my primary currency?
Once selected during account setup, the primary currency can't be changed. However, you can hold funds and trade in any of the supported currencies.
Can I select the deposit currency?
Yes, you can deposit funds in any of the supported currencies. This flexibility not only allows for more control over your account management and trading activity but can also help you avoid potential conversion charges from your bank.
Can I select the withdrawal currency?
Yes, you can withdraw funds in any currency. You can select one currency balance to withdraw from, and we will payout those funds in the selected currency.
We won't automatically convert funds when processing withdrawals. Please ensure that you manually convert your funds to the desired withdrawal currency before initiating the withdrawal request.
Please ensure the bank account you intend to withdraw to is in the same currency as your withdrawal. Otherwise, your bank may charge you an FX fee and potentially cause delays in the processing of your withdrawal.
Note: Due to your account's withdrawal methods, you may not be able to withdraw in a different currency.
Can I select the currency when placing orders?
Yes, when placing an order you can select between your primary currency and the asset’s currency. Pay no FX fees on your trades by selecting the asset’s currency. Also, you can set default currency for your orders in Menu➡Settings➡Currency options.
Some examples:
- Buying Tesla? Invest USD 💵
- Buying Porsche? Invest EUR 💶
- Buying Tesco? Invest GBP 💷
If you use “Number of shares” orders and the share price increases, only funds from the same currency will be used to cover the increased cost. Funds in other currencies won’t be automatically converted to meet the price increase.
Can I combine multiple currencies in one order?
No, you can select one currency per order.
How is the position's result calculated?
- If you sell it in the traded instrument’s currency - you'll realize only the market portion of the result (without FX impact and FX fee).
- If you sell in primary currency, you'll get impacted by FX immediately.
Do Pies support multi-currency balances?
Pies hold cash in your primary currency. When adding or taking out funds from your pies, you have to use your primary currency balance, and currency conversions are charged at our standard FX fee of 0.15%. This includes any dividend reinvestments, which will again be processed in your primary currency.
Is it possible to receive interest on all currencies I hold?
All currencies eligible for interest sharing will earn interest. Please refer to our Terms page to check the current rates.
Can I select the currency in which I earn interest on shares?
No, any interest on shares will be paid out in your primary currency.
What happens to proceeds from dividends and other corporate actions?
They are credited in your primary currency. All payments remain exempt from the FX fee.
What is the impact on my account statements and account value calculations?
Your account value is still calculated and displayed in your primary currency.
Account statements continue to be calculated and issued in your primary currency, but with added details. These include a breakdown of uninvested cash for each individual currency and records of "currency conversion" transactions, which reflect exchanges between different currencies. These modifications aim to give a comprehensive and transparent view of your multi-currency trading activities.