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.
Why am I unable to convert currency with the currency conversion tool?
Powered by IBot
Why is my FX Closing trade getting rejected due to low balance?
A Cash account must have enough cash to cover the cost of a position plus commissions and can never hold a negative cash balance. When placing a Market order (or Stop 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 amount at the credit check step for Market type orders to account for market movements. If you receive an order rejection for not enough Settled Cash when you do in fact have the Settled Cash to execute your order at your desired price and quantity, try using a Limit order (or Stop Limit order for a Stop) or reduce the MKT order size…
Why was my market order rejected in my cash account?
A Cash account must have enough cash to cover the cost of a position plus commissions and can never hold a negative cash balance. Please note, market orders add an extra 5% to the order amount as a buffer to account for market movements. As a result, market orders may be rejected due to insufficient cash. No such buffer is included when using Limit orders. …
How can I attach an FX Hedge order in the IBKR Mobile?
New features and order types are being added to IBKR Mobile with each new release. At this time, however, you cannot attach an FX Hedge order to an order created in IBKR Mobile.
As a workaround, if you have a Margin account you can check the Market Value section of your Account window post trade to see if the trade created a currency loan. If so, youcan then create a new FX Conversion order to close the negative currency balance resulting from the trade. …
What order types can I use for cryptocurrency orders?
You can trade cryptocurrencies only using Market or Limit orders. Market orders can be submitted in cash value only (e.g. $10,000 worth of BTC). Limit orders can be submitted in either trade value or quantity terms, but the entered trade value will be converted to quantity and transmitted to OSL in quantity terms. A Limit order is an order to buy or sell at a specified price or better. The Limit order ensures that if the order fills, it will not fill at a price less favorable than the limit price, but it does not guarantee a fill…