ii broker - buying TOU on ASX16 Apr 2018 13:31
I once told how I receive AUD dividends periodically and invest them in TOU/ASX , avoiding FX conversion costs.
It was so easy on TDW - dollars bought shares and commission , in GBP, identical to buying TLOU on AIM.
Over a week ago I tried to do the same on II , the cowboys that have taken over TDW , and I am still waiting for a reply to a query.
II have a mandatory charge of �22.50 p.q. which is used exclusively on trading charges .... i.e. unavailable to trade!
I entered my limit trade and the commission showed as $36 (�20) whilst their charges are supposed to be �10 or �6 for frequent traders ... chance would be a fine thing!
I declined to accept the trade and asked if they would use my GBP trading credit to cover the $36.
After several messages I am still waiting for Walt Disney to respond on his Mickey Mouse operation.
Today I compared buying TLOU on AIM with different settlement currencies :-
1. GBP allowing for FX conversion (loses �4+) - commission was �10
2. AUD - commission was $18 - begging my original query!
So trading on the International market seems to cost �20 , but settling with AUD on UK market costs �10
Bring back TDW!