We send our orders for US stocks to a LSE market maker. When the market maker sends us the prices for US stocks, the conversion from dollars to pounds is baked into the price. We don’t control the exchange rate — we just pass it on to our customers.
Currently, the rate we get is the spot price + 0.45%. We display that in the order confirmation screen on the app and our pricing schedule, and we pass that rate directly to you.
As we add more execution venues we’ll have more control over the FX conversion and should be able to offer better FX rates.