IB base currency

Discussion in 'Retail Brokers' started by scexglobal, Jul 22, 2008.

  1. Quick question: is it possible to hold multiple base currencies as one would with a non-US bank in a univeral IB account?

    Thank you.
     
  2. Tums

    Tums

    n
     
  3. I take that as a no? :)
     
  4. Daal

    Daal

    its possible to hold multiple currencies but not multiple base currencies
     
  5. Tums

    Tums

    any currency holding other than your BASE currency is treated as a loan.
     
  6. Daal

    Daal

    you can convert a USD balance to other currencies through IB IDEAL(not pro), that would not be a loan but real currency that earns interest(if above the no interest amount)
     
  7. The reason I asked is as follows: I wanted to use IB as somewhat of an EU bank, but with electronic access and tighter spreads (and much better interest).
     
  8. Daal

    Daal

    I think you can do this. I do it to certain extend, the IB wire fees are much lower than in banks
     
  9. man was it that hard to add the extra 'o'