Hi
Here is something I should probably have mentioned earlier: As of April 2024, IB will now do currency conversions for you if you do not have the necessary currency. Before, you had to do a manual conversion before a trade, but now IB will do it for you if have not done so already! Of course, this is only for cash accounts, because a margin account would go into a negative balance in this case.
It is important to know that the fee is different between these two systems:
What do you think about this feature? I think it's pretty nice for simplifying the flow of investment on IB, and it can even save investors some money.
You can read more about it on my IB Review:
thepoorswiss.com
Here is something I should probably have mentioned earlier: As of April 2024, IB will now do currency conversions for you if you do not have the necessary currency. Before, you had to do a manual conversion before a trade, but now IB will do it for you if have not done so already! Of course, this is only for cash accounts, because a margin account would go into a negative balance in this case.
It is important to know that the fee is different between these two systems:
- Manual conversions cost 0.002% of the conversion or 2 USD, whichever is higher
- Automated conversions cost 0.03% of the conversion
What do you think about this feature? I think it's pretty nice for simplifying the flow of investment on IB, and it can even save investors some money.
You can read more about it on my IB Review:
![thepoorswiss.com](/proxy.php?image=https%3A%2F%2Fthepoorswiss.com%2Fwp-content%2Fuploads%2F2021%2F07%2FInteractive-Brokers-Review.jpg&hash=bfe0c96567597d72e6f4d02b1b39013b&return_error=1)
Interactive Brokers Review 2024: Pros & Cons - The Poor Swiss
My honest and complete review of Interactive Brokers (IB), an excellent broker. Find out how good IB is and its pros and cons, and more.
![thepoorswiss.com](/proxy.php?image=https%3A%2F%2Fthepoorswiss.com%2Ffavicon-32x32.png&hash=5ae0192e418987daf44b624a3a69f3d2&return_error=1)