How to pay a CAD debit with a USD credit?

IBKR offers competitive commissions on spot currency trades and conversions, starting at 0.20 basis point * trade value, with a minimum of 2.00 USD (or USD currency equivalent) per order.

Commissions for spot currency trades are calculated off the trade value in terms of the second currency of the pair and then converted and charged to the base currency of the account…

WITHDRAW FUNDS

You can generally withdraw funds from Client Portal denominated in the currency of your residential country, the base currency of your account, or a common currency (USD, EUR, HKD, GBP, AUD, SGD, CHF, CAD, or JPY)…

You can have the system calculate the order quantity for Forex orders based on a monetary value that you specify.

To use this “Cash Quantity” feature, set up your currency pair order and click the Quantity field (in the Order Entry panel for Mosaic or on the order line in Classic). The default minimum quantity is displayed. Toggle the quantity from the default currency to the alternate currency as needed. For example, if the forex pair you’re trading is EUR.USD, the default currency is EUR and the quantity displayed is in euros. When you toggle to the alternate currency (in this case USD) the value will default to the equivalent USD value based on the current exchange rate. Modify the USD quantity as needed and submit the order…

By default, Forex order quantity is defined in terms of units of the first currency of the pair. The concept of Forex lots does not apply at IBKR.

The pip (the equivalent of a tick in most other asset classes) value varies depending on the particular currency pair and the amount of cash being traded. The definition of a pip is; the smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point (for most pairs this is the equivalent of 1/100th of one percent, or one basis point). As a result of this, the value of a pip is going to be dependent on the quantity that is being traded. In order to determine the pip value a trader needs to know the following information:…