Only Non-US resident accounts opened through IMPACT are eligible for automatic currency conversion.
For these accounts, IBKR will automatically convert currencies to facilitate multi-currency trading for orders entered through IMPACT or any other IB trading platform. This means that you can purchase assets that trade in currencies other than your base currency without first having to manually complete a currency conversion.
To do this, IBKR engages in "spot" currency transactions on our clients' behalf, to settle the client's buy orders when their account does not have a sufficient amount of the currency in which the security being purchased is denominated (the "Trade Currency"). This conversion service is automatic and provided by IBKR to make it simpler to trade products denominated in a currency different from your account’s base currency.
Note
- Automatic Currency Conversion is only supported for Non-US resident accounts opened through IMPACT.
Additional Information
- Please read the full disclosure regarding the Automatic Currency Conversion Feature of IMPACT accounts.