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do I convert currencies in IBKR Mobile?","\u003Cp>It is easy to complete currency conversions in IBKR Mobile using the currency conversion tool. \u003C\u002Fp>\u003Cp>To convert currencies in IBKR Mobile:…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1213,"faq_id":1213,"timestamp":1209,"cir_id":1208},"FAQ_QUESTION",{"id":1219,"title":1220,"short_description":1221,"feedback_context":1222},"faq:\u002F\u002FpageId=111454768","How do I convert currency in my Interactive Brokers (IBKR) account?","\u003Cp>Interactive Brokers (IBKR) offers multiple ways to convert currency in your account.\u003C\u002Fp>\u003Cp>Here is a comprehensive guide on how to perform currency conversions:…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1219,"faq_id":1219,"timestamp":1209,"cir_id":1208},{"id":1224,"title":1225,"short_description":1226,"feedback_context":1227},"faq:\u002F\u002FpageId=111457451","How do I convert currency in Client Portal?","\u003Cp>\u003Cstrong>CONVERT CURRENCY\u003C\u002Fstrong>\nUse the currency conversion tool to easily convert one currency to another…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1224,"faq_id":1224,"timestamp":1209,"cir_id":1208},{"id":1229,"title":1230,"short_description":1231,"feedback_context":1232},"faq:\u002F\u002FpageId=226101733","Is there automatic currency conversion for cross currency trades?","\u003Cp>\u003Cstrong>Only Non-US resident accounts opened through IMPACT are eligible for automatic currency conversion.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>For these accounts, IBKR will automatically convert currencies to facilitate multi-currency trading for orders entered through IMPACT or any other IB trading platform. This means that you can purchase assets that trade in currencies other than your base currency without first having to manually complete a currency conversion…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1229,"faq_id":1229,"timestamp":1209,"cir_id":1208},{"id":1234,"title":1235,"short_description":1236,"feedback_context":1237},"faq:\u002F\u002FpageId=104943015","Do you automatically convert non-base currency balances?","\u003Cp>When account holders enter into transactions with instruments which are denominated in a non-base currency, the resultant profit or loss along with any interest charges (in the event of a margin loan) will remain in the currency in which the product was denominated until such time the account holder acts to close the currency position(s). This responsibility rests with the account holder as closing the position requires acceptance of a conversion price which is likely to be subject to continuous fluctuation similar to any other financial instrument…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1234,"faq_id":1234,"timestamp":1209,"cir_id":1208},{"id":1239,"title":1240,"short_description":1241,"feedback_context":1242},"faq:\u002F\u002FpageId=1163259488","Converting currency balance","\u003Cp>Account holders may find themselves holding balances in currencies other than their designated \u003Ca href=\"https:\u002F\u002Fwww.ibkrguides.com\u002Fkb\u002Fen-us\u002Fbase-currency.htm\">Base Currency\u003C\u002Fa> as a result of trades in products denominated in a different currency or from profits\u002Flosses directly associated with Forex trading. In these cases, IB does not act to automatically convert balances back to the Base Currency as this action would require assumptions as to the account holder's desired currency exposure as well as the trade price at which they would be willing to close the position.1 IB does, however, provide those account holders who are not active Forex traders an expedited 3 step process for converting such positions at an individual or aggregate currency level. These steps are outlined below…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1239,"faq_id":1239,"timestamp":1209,"cir_id":1208},{"id":1244,"title":1245,"short_description":1246,"feedback_context":1247},"faq:\u002F\u002FpageId=1163260299","How can I close out the nominal forex positions in my account?","\u003Cp>When account holders enter into transactions with instruments which are denominated in a non-Base Currency, the resultant profit or loss along with any interest charges (in the event of a margin loan) will remain in the currency in which the product was denominated until such time the account holder acts to close the currency position(s). This responsibility rests with the account holder as closing the position requires acceptance of a conversion price which is likely to be subject to continuous fluctuation similar to any other financial instrument…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1244,"faq_id":1244,"timestamp":1209,"cir_id":1208},{"id":1249,"title":1250,"short_description":1251,"feedback_context":1252},"faq:\u002F\u002FpageId=27293227","How do I convert currency in TWS?","\u003Cp>Clients have the ability to convert currency, either to establish a cash position or trade foreign products. To place a currency trade, enter the currency pair you wish to trade (ex. EUR.USD) into the Trader Workstation (TWS) desktop platform as you would any other symbol and select IDEALPRO CASH if prompted by the contract selection menu. You can then initiate a trade using the…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1249,"faq_id":1249,"timestamp":1209,"cir_id":1208},{"id":1254,"title":1255,"short_description":1256,"feedback_context":1257},"faq:\u002F\u002FpageId=767019081","Why am I unable to convert currency with the currency conversion tool?","\u003Cp>The currency conversion tool considers market orders when placing the order. Please note, when placing a Market order the order value cannot be known with certainty prior to execution as the market can move in any direction, at any moment. Because of this, an extra 5% is added to the order quantity at the credit check step for Market type orders to account for market movements. This 5% buffer is what is causing the difference in the trade value and the cash available in the account. Should you choose to convert currency using an Order Ticket, Limit orders do not require the 5% buffer…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1254,"faq_id":1254,"timestamp":1209,"cir_id":1208},{"id":1259,"title":1260,"short_description":1261,"feedback_context":1262},"faq:\u002F\u002FpageId=41571219","How do I convert EUR to USD?","\u003Cp>IBKR's FX liquidity providers quote currency pairs in accordance with standard industry convention which, in the case of the EUR and USD, requires entry of the pair as EUR.USD. As the industry does not support inverted quotes (e.g., USD.EUR) and the first currency listed is the one being bought or sold, converting EUR into USD requires that you sell the EUR.USD pair. …\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1259,"faq_id":1259,"timestamp":1209,"cir_id":1208},{"id":1264,"title":1265,"short_description":1266,"feedback_context":1267},"faq:\u002F\u002FpageId=696231863","How does currency conversion work when trading stocks in different currencies or on international exchanges?","\u003Cp>Currency conversion is an essential aspect of trading stocks in different currencies or on international exchanges. Understanding how it works can help you manage your trades more effectively and avoid unexpected fees or interest charges. Here is a comprehensive overview of currency conversion in various scenarios:…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1264,"faq_id":1264,"timestamp":1209,"cir_id":1208},{"id":1269,"title":1270,"short_description":1271,"feedback_context":1272},"faq:\u002F\u002FpageId=97981280","How do I convert USD to EUR?","\u003Cp>IBKR's FX liquidity providers quote currency pairs in accordance with standard industry convention which, in the case of the EUR and USD, requires entry of the pair as EUR.USD. As the industry does not support inverted quotes (e.g., USD.EUR) and the first currency listed is the one being bought or sold, converting USD into EUR requires that you buy the EUR.USD pair. …\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1269,"faq_id":1269,"timestamp":1209,"cir_id":1208},{"id":1274,"title":1275,"short_description":1276,"feedback_context":1277},"faq:\u002F\u002FpageId=35807749","How do I close a currency balance if the pair is not available?","\u003Cp>Liquidity providers do not offer quotes on all currency pairs and if you are seeking to convert funds between currencies that are not \u003Ca href=\"https:\u002F\u002Fwww.interactivebrokers.com\u002Fen\u002Findex.php?f=2222&exch=ibfxpro&showcategories=FX\">directly quoted\u003C\u002Fa>, you would need to find a common currency that is quoted against both and perform the conversion using two separate orders…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1274,"faq_id":1274,"timestamp":1209,"cir_id":1208},{"id":1279,"title":1280,"short_description":1281,"feedback_context":1282},"faq:\u002F\u002FpageId=32666597","What are the available Forex pairs?","\u003Cp>Available Forex pairs can be found on the \u003Ca href=\"https:\u002F\u002Fwww.interactivebrokers.com\u002Fen\u002Findex.php?f=2222&exch=ibfxpro&showcategories=\">IDEAL PRO\u003C\u002Fa> exchange page. Find out more about trading spot currencies on the IBKR website from the \u003Ca href=\"https:\u002F\u002Fndcdyn.interactivebrokers.com\u002Fen\u002Ftrading\u002Fproducts-spot-currencies.php\">Spot Currencies\u003C\u002Fa>…\u003C\u002Fp>",{"request_context":1206,"type":1217,"id":1279,"faq_id":1279,"timestamp":1209,"cir_id":1208},{"id":1284,"title":1285,"short_description":1286,"feedback_context":1287},"faq:\u002F\u002FpageId=1163258815","An introduction to forex (FX)","\u003Ch3>Overview\u003C\u002Fh3>\n\u003Cul>\u003Cli>IB offers market venues and trading platforms which are directed towards both forex-centric traders as well as traders whose occasional forex activity originates from multi-currency stock and\u002For derivative transactions. The following article outlines the basics of forex order entry on the TWS platform and considerations relating to quoting conventions and position (post-trade) reporting…\u003C\u002Fli>\u003C\u002Ful>",{"request_context":1206,"type":1217,"id":1284,"faq_id":1284,"timestamp":1209,"cir_id":1208}]