How does IB handle Eurodollars when a US trader trades DAX? or Eurostoxx50? A US traders account base currency is US dollars right? There is a spread in the currencies right? So if you have a universal account with IB sweeping nightly then you are forcing daily exchanges of currency.... Please clear this up for me..... Michael B.
the gains/losses would reside in euros until YOU decide to convert it to usd by using the IDEAL currency exchange via TWS.
Do different clearing houses have different conversion rates? And is IB's considered competitive? Has anybody done a comparison? I understand that the eurocurrency is changing minute by minute and there really is no central clearing or standard quotes. Michael B.
All exchange looks like fair and going rates to me. Charge is about 5$. No sweep as said above - you are the one to decide when to convert. I suggest you print off the examples under Resources, then FOREX and have it right next to you on your first exchange. I hope you are selling the Euros Electric not buying like I had to a few times ! Geo.
Yes....weak dollar...... and if I were buying Euros this would indicate losses in the dax.....oh what a double whammy. Do I have this right? Michael B.