How to hedge currency risk

Discussion in 'Interactive Brokers' started by TradTrad, Mar 6, 2020.

  1. TradTrad

    TradTrad

    I have an account at IBKR and I want to buy some ETFs quoted in EUR and USD. As I currently earn in PLN I'd like to hedge currency risk. The question is what is the best method to do it.

    I know I can use FX futures. I know how they work, but how to do it technically in IBKR? When I look for a currency pair USD.PLN the only "instrument" that shows is Forex. When I search for PLN the only thing that gets listed are Futures.
    Are these the futures I need to hedge USD.PLN? If so what is the lot here? What is the cost of holding this contract except for the commission to IBKR?