Today we explore the benefits of a multi-currency account and why it’s a must-have for international investors. See how it can help you manage your investments more effectively, reduce currency conversion fees, and simplify transactions across different currencies.
💡 Key points:
◾ What is a multi-currency account
◾ The benefits (and risks) of a multi-currency account
◾ How to open a multi-currency account
⌚ Timestamps:
0:00 Intro
0:21 What is a multi-currency account?
0:41 Pros of multi-currency account
1:47 How it works?
2:38 How to open a multi-currency account?
🍿 See more:
1. https://www.youtube.com/watch?v=qqZtII7KzDw&t=0s
2. https://www.youtube.com/watch?v=mrIx_Kty0l8&t=0s
3. https://www.youtube.com/watch?v=ETmeUi0Fdn8
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When investing, your capital is at risk. Investments can fall and rise and you may get back less than you invested. Past performance doesn’t guarantee future results. This information is not investment advice. Do your own research. 0.15% FX fee applies when converting funds. Other fees may apply. The information contained within the video was correct at the time of recording but may have since changed.
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The exchange rates are the best I’ve seen around. This has been a game changer for me, I’ve saved a ton of money from FX fees.
We’re glad to hear that 🤩
It would be nice if Trading 212 would let us receive dividends in the currency of a stock (like an “opt-in” option), for example dividends of Diageo in pounds and dividends of Tesla in dollars
Thanks for the suggestion – we appreciate it. We’ll let you know if we implement such an option.
Thank you 🙂
The more you let users chose different options, the better
PD: please keep having costumer support, you don’t always need it but you miss it if it is no there, AI does not do the job
I didn’t realised it? I have been w 212 and I love it but haven’t seeen this opportunity
what’s the differences of investing in the sS&P500 in dollars in the NYSE and investing in S&P500 in EUR in an european stock exchange like Borsa Italiana or xetra? (of course both in etfs)
When you invest in an S&P 500 ETF on the NYSE, your investment is tied to the USD. Any change in the USD relative to your home currency will affect the value when converted back. Trading on different exchanges might involve different costs, including brokerage fees, spreads, and taxes. If the primary currency of your account is not USD, then an FX fee of 0.15% can be applied. US-listed ETFs are subject to US dividend withholding tax. The NYSE offers high liquidity and tight spreads, which for European investors might mean trading outside of their regular hours.
When you invest in an S&P 500 ETF on an exchange like Borsa Italiana or Xetra in EUR, you still get exposure to the S&P 500, but the ETF’s price is quoted in EUR. Some ETFs might have different expense ratios depending on where they’re listed, even if they track the same index. European-domiciled ETFs can offer more favorable tax treatments for European investors. European exchanges like Borsa Italiana or Xetra may have slightly lower liquidity compared to NYSE, but they operate during European market hours, which can be more convenient for European investors.