| The broker should provide you with a statement explaining how the figures stack up. Whenever I have done this in the past they do it exactly as you have calculated but without the conversion to Sterling, so they would take your $20 profit per share, deduct their fees + tax at 40% then send me a dollar cheque for the balance. It was then up to me to bank the cheque at whatever rate I negotiated with the bank, and remember that the rate is negotiable. The exchange rates quoted by banks are for the holiday maker changing a few hundred quid. When you start talking tens of thousands you may be surpised at the rates you can get. |