Once you close a security position which is denominated in a currency other than your Base Currency, the proceeds will remain in that non-Base Currency and subject to exchange rate risk until such time you either perform a currency conversion or use those proceeds for another similarly denominated transaction. Similarly, profits or losses on futures contracts which settle in a currency other than your Base Currency will remain in the currency of denomination for that contract and will not be automatically converted by IBKR into your Base Currency.
Note
- The above does not apply to clients of IB Australia who are subject to restrictions as to the long currency balances they may hold and who cannot borrow funds, regardless of currency denomination. More information on IB Australia account types and product offerings can be found in our Knowledge Base.