What currency can I fund my ISA?

Clients can hold multiple currencies in their IBKR account. Clients can generally deposit and withdraw funds in the currency of their residential country, the base currency of their account, or a common currency (USD, EUR, HKD, GBP, AUD, SGD, CHF, CAD or JPY). Please note that IBKR will not automatically convert currency when placing a withdrawal…

Currency conversion can have a significant impact on your margin buying power in your Interactive Brokers (IBKR) account. Here is what you need to know:

1. Direct Impact on Buying Power:  When you convert cash from one currency to another, it can affect your ability to trade in both the original and the new currency. This is because your account's buying power is directly tied to the amount and type of currency you hold…

The only way to avoid currency risk is to never trade outside the account's base currency. For example, if you have a margin account and trade a foreign security without converting funds prior your account will take on a short cash balance for the amount of the trade. This cash position will carry currency risk, of which you can view at the end of each day in the FX Translation Gain/Loss line in the Cash Report section of your Activity Statement. Please note, IBKR does not give any kind of trading advice and you need to decide how to manage any currency risk when trading in contracts denominated in a non-base currency or when holding non-base currency balances…

You will need a Margin account in order to use an attached FX Hedge order. A Cash account cannot use a FX Hedge attached order because it takes IBKR a fraction of a second to see how much negative cash is in the account after the non-base currency stock order executes. Even though it would only be a short amount of time that the Cash account would be holding a negative cash balance, a loan to the account is not allowed under any circumstances. In a Cash account you will need to first execute a FX currency conversion order and then place an order for a contract denominated in a foreign currency. …