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Interactive Brokers Group Cookie Policy
What are Cookies and Web Beacons?
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How We Use Cookies and Web Beacons
Interactive Brokers Group collects information from cookies and web beacons and stores it in an internal database. This information is retained in accordance with our Privacy Policy. This website uses the following cookies and web beacons:
Strictly Necessary Cookies
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Functional Cookies
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This website may link through to third party websites which may also use cookies and web beacons over which we have no control. We recommend that you check the relevant third parties privacy policy for information about any cookies and web beacons that may be used.
![[Gamma] Scalping Please](https://ibkrcampus.com/wp-content/smush-webp/2024/04/tir-featured-8-700x394.jpg.webp "[Gamma] Scalping Please")
Hi all, I am trying to convert USD to CAD and when I press submit, instead of the conversion taking place I receive an error message saying “FX conversion is allowed to base currency only”. Please advise how to resolve the problem and be eligible to carry out currency conversions from USD to other currencies.
Also please advise where I can see the currency in which international stocks are quoted (as only the price is shown on the ticker and not the currency (so for ticker CSU:CA for example I see the price of 3300 but I do not know if it is in CAD or USD or EUR).
Looking forward to your response.
Thank you again for contacting IBKR. To address your concern/inquiry, we need a few more details about the situation and your account; unfortunately, this is not a secure channel to share this information. We kindly ask that you contact our Client Services team for further assistance via web ticket, chat, or phone call using the link. We appreciate your understanding. https://www.interactivebrokers.com/en/support/customer-service.php
My base currency is CHF. What happens if I buy shares in USD? Are CHF automatically exchanged in USD? If not, do I pay interest on the (negative) USD amount?
Hello, thank you for reaching out. Cash accounts are not allowed to trade Forex on a leveraged basis but are allowed to convert one currency to another. As a Forex transaction represents the simultaneous purchase of one currency vs. the sale of another, that sale will result in a short (i.e., borrow) position unless it serves to close or convert an existing long position. Accordingly, Forex orders which would result in a short balance in any given currency, if executed, will not be accepted in a cash account.
You can easily convert one currency to another using the currency conversion tool in IBKR Mobile or Client Portal. Learn more about the process in this FAQ:
https://www.ibkr.com/faq?id=111454768
Accrued interest is posted to your IBKR account once per month, generally in the first week of the month after accrual. The interest amount is based on your daily settled cash balance for each currency held. If the daily accrued interest amount is less than the minimum threshold (e.g. $1 for USD), it will accumulate until the total accrued amount exceeds the threshold and can be posted. Please view this FAQ for more details: https://www.ibkr.com/faq?id=40340294
We hope this helps!