IB multi currency account

Discussion in 'Retail Brokers' started by morse, Jun 19, 2002.

  1. morse


    Is anyone using the beta version of this, I switched to this last night from a euro account, but I have been trying to trade the mini Nas but it will not let me I am getting the data but can not trade is there any other software I am supposed to download?:eek:
  2. pethof


    You cannot trade futures in a multicurreny account.
  3. You can with the "universal account".

    It's coming. It's coming ... by June 22 it's said.
  4. just21


    Universal Account Overview

    IB's Universal Account allows you to trade multiple products around the world from a single account. You can trade equities, options, futures, and options on futures all from the same Trader Workstation screen, and your transaction history and positions are all reported in a single statement.

    Trading around the world is simple, because you are not required to open accounts in multiple currencies. Deposit a single base currency in an account and when you want to trade a product denominated in a currency other than you base currency, a margin loan is created which is secured by your base currency. If you wish to eliminate the margin loan, you may do so at any time by trading currencies through our IB IDEAL network. Our currency rates are much better than any retail bank or credit card exchange rate, and they are very close to the rates offered by professionals in the Interbank Market.
  5. I thought the spread was about 40 pips, that's not even close to interbank rates. If you have an existing account, do you need to close it and open a new universal account? I also hope you will be able to make withdrawal in non base currency so you can get money when you stay at your French castle for summer.
  6. def

    def Interactive Brokers

    an announcement and details will be provided next week.

    as for the withdrawing in different currencies, it will require a fair amount of programming. should demand be high I imagine it will be assigned to someone down the line.
  7. morse


    I contacted IB after posting this thread, they stated that the reason I could not trade was that I have to give the system 24hrs when trying to trading a new product which I was the mini NQ.
    My multi currency account apparently up and running so I am not sure why the 22nd has been given for the time to start?
  8. i've been trading ib's universal account for a few weeks now... great.... all products and all currencies through one username/account... was about time!