Can one change base currency of IB?

Discussion in 'Retail Brokers' started by tyrant, Sep 27, 2008.

  1. tyrant


    I understand that we were unable to change the base currency of trading account. Can we do it now? I read that we can change the reporting currency, that is the reporting is done in the nominated currency. But what about the base currency?
  2. tyrant


    It is possible to change base currency in IB. My funds are currently in USD. Can I change the base currency to EUR. If I use the function in Account management to change, does it mean that my funds are converted to EUR and if so, at what rate? if not, what's the purpose of changing base currency?

    Thanks for clarification.
  3. AAA30


    If you select the EUR as your base it will give you totals in that currency I do not think it will convert your funds but just show you the value of say your USD in EURs, it will warn you if it would force a conversion. The conversion rate is the rate that IB will give you to convert which although I have never checked it seems to be fair or close to spot.