Foreign Currency Account for Uk and US Shares?

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laila

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Planning on buying some UK and US shares. Plan to buy and hold for the long term. Is it advisable to open a sterling and dollar accounts? Thanks. If it is advisable to do so how does one open foreign currency accounts? Thanks.
 
hi

Most stockbrokers will offer different currency accounts and if you are buying in sterling / USD and want to settle in those currencies, you will have to pay for them in this currency.

The main issue is when selling. Depending on the companies you're investing in, the FX rate between EUR/GBP/USD wouldn't really be affecting the individual share price. If you have different currency accounts, when selling, you can keep the proceeds in GBP/USD or request EUR - depending on what your currency view at that time is.
 
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