Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

ptcman

Is It Worth to Convert the Account

Recommended Posts

Hi.

 

Recently someone called my attention regarding my IB account and the fact that is in euros when I trade almost exclusively USD based products (ES, CL, GC, US stocks)

 

They asked me why wouldn't I convert my account into USD, since it made more sense instead of being constantly paying commissions for the currency conversion.

 

I'd like to know your thoughts regarding this issue.

I'm a bit confused with this :roll eyes:

 

regards

Share this post


Link to post
Share on other sites

With IB accounts, you can designate any currency as your "base" currency.

 

ie it does not have to be your "home" currency.

 

you should designate your base currency in the product that you most often trade.

 

e.g.

if you live in Japan, and trades the ES.

then you should use USD as your base currency.

 

 

you can change the base currency designation anytime.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.