It is not possible to create a custom Forex pair.
The currently available Forex pairs are available on our website under Products > Exchange Listings > Global under the venue IDEAL PRO.
Can I create a custom Forex pair?
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What are the available Forex pairs?
Available Forex pairs can be found on the IDEAL PRO exchange page. Find out more about trading spot currencies on the IBKR website from the Spot Currencies…
Transaction currency
In forex (fx) trading, the transaction currency (also referred to as base currency) is the first currency listed in the currency pair. When creating a forex order with Interactive Brokers, the order quantity is entered in terms of the transaction currency…
Why are there two currencies show when trading forex, and how do they work?
Overview:
In the international forex cash market (known as the Spot Market) currencies are traded in pairs. The first currency in each pair is known as the Transaction Currency, while the second currency in the pair is the Settlement Currency. The quantity bought and sold will apply directly to the Transaction Currency, while the gains and losses from transactions will apply to the Settlement Currency. When you buy a currency pair you are going long the Transaction Currency while simultaneously shorting the Settlement Currency. Conversely, when you sell a currency pair you are shorting the Transaction Currency while simultaneously buying the Settlement Currency. Since the forex market is foreign exchange, each transaction must contain one currency against another…
How can I trade inverted Forex crosses?