Instant trade fee, account currency, exchange rates and fees

Hello,

I have some questions:

  1. what fee shall be for instant trade? Will there be fixed fee or tiered to shares amount? If fee per share traded - shall there be any minimum per trade?;
  2. are there trading styles which may be prohibited? Will scalping be allowed?
  3. when there shall be possibility to open USD account (for EU residents)? Until then what charges shall be for currency exchange? Exchange rate shall be spot rate?

Thank You for the replies.

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Hi @Mr.1, thanks for reaching out and welcome to the community :wave:

Coming back to your questions:

  1. Instant trade fees are fixed and not tiered. If you’re in Europe, they’re 85 euro cents.
  2. We’ll be able to confirm once our license is approved if any trading styles will be prohibited. We will have restrictions on how many times you can buy / sell the same stock per day - our platform is more for the new / longer term investor, not a day / high frequency trader. But, if you’re using a scalping strategy to take profits that fall within the number of times per day you can buy / sell a stock on our platform then, for now, this won’t affect you. It’s also on our roadmap to add L2 data, currently we have L1.
  3. Our app is for new / less experienced investors so for now, a user will always see the app in their local currency - the currency they’re most familiar with. This means the currency conversion will take place at the time of the trade at the interbank rate + 0.45%. We’ve had a few requests for a more advanced product and with that it’s on our roadmap to include a multi-currency account.

Hope this brings more clarity :slightly_smiling_face:

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I would also like to have an account in US dollars and GBPs so we are not worried about the exchange rate of that day. Thank you!

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Hi @RachelDoc, thanks for your feedback! We’re looking into this as an offering when we expand into more advanced features.

Welcome to the community! :wave:

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