IB Currency Conversion

[GlenPeake]

Some discussion on tonight’s Monthly Mentor call regarding CASH Accounts and converting AUD/USD.

Here’s a link from the IB website with a video which offers some insight and an example using TWS.

https://ibkr.info/node/1172

[MichaelRodwell]

I spoke w IB yesterday and they said the following:

– my SMSF account can hold AUD, USD or GBP

– currency conversation can be done via TWS trading and attracts commission

– IB will perform currency conversion automatically when buying stocks. Ie, if you hold AUD and are buying US the conversion is seemleas. When the stock is liquidated funds stay in USD until being converted back

[Author]

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