Interactive Brokers (IBKR) has a specific process for handling small non-base currency balances in your account. Here is a comprehensive overview:
- Automatic Conversion:
- IBKR automatically converts nominal balances of non-base currencies.
- Nominal balances are defined as amounts less than USD 5 or its equivalent in other currencies.
- This conversion is done free of charge by Interactive Brokers.
- Conversion Process:
- The conversion occurs after the cash has settled.
- Typically, this happens 1-2 business days after the settlement of the conversion.
- The small balances are swept into your account's Base Currency.
- Conditions for Conversion:
- Conversion only takes place if there is no other unsettled activity remaining in that currency.
- It will not occur if there is a pending accrual waiting to be posted in that currency.
- Viewing Your Balances:
- You can view your cash balance for each currency on the portfolio page of your account.
- To check your actual cash balance:
- Go to the Portfolio page
- Look for the Cash Balance section
- Review the balance for each currency
Notes
- This process applies to all non-Base Currency amounts in your account that meet the criteria.
- Virtual FX positions in paper trading accounts may not necessarily reflect your actual cash balance.
Additional Information