Why would I submit an FX transaction to the FXCONV destination?

Route orders to FXCONV if you are not interested in tracking the average cost and running P&L on your currency trades in your trading platforms.

Orders routed to FXCONV in TWS:

  • Do not create or adjust Virtual FX Positions in FX Portfolio
  • Are not reflected in the trading platforms' P&L.

Orders routed to IDEALPRO in TWS:

  • Create or adjust Virtual FX Positions in FX Portfolio
  • Are reflected in the trading platforms' P&L when FX Portfolio is displayed.

Please Note

  • All currency trades at Interactive Brokers, both destination FXCONV and IDEALPRO, imply currency delivery and result in currency conversions
  • Destination IDEALPRO or FXCONV has no impact on the Activity Statements' P&L. See: How is P&L on Forex calculated?
  • Only TWS allows you to select FXCONV; the other trading platforms always route currency orders to IDEALPRO.

Additional Information

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Transaction currency
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What does the Virtual FX Positions section of the Account Window show?