IB: Unexplained open cash FX positions

Discussion in 'Retail Brokers' started by croc1964, Feb 20, 2007.

  1. croc1964


    As you can see on the attached copy of my Portfolio (Pic: Globetrader 112) I seem to have quite a number of open FX positions creating a substantial amount of negative Open PL (as of today -404.383 USD).
    I know for sure I never opened such positions. I also know I never had any transactions in eg JPY/HKD or transactions in HKD/JPY which to my astonishment are also not set off against each other. Other positions like a short EUR/USD of 4450 might or might not be correct. I have no idea as I trade EUR/USD instruments quite often.
    I know that the moment I decide not to show these FX positions in my account, they disappear (Pic: Globetrader 113).
    But what is not disappearing is the Unrealized P&L showing eg -381.956 USD or a Total of 404.383. This total also changes when the exchange rate changes (Pic: Globetrader 114), so for all I know, these FX positions are real and at the least might mean I have to pay IB interest on these open FX positions.
    If you tell me that I have no open FX positions and this unrealized Open P&L is fake, then your software is reporting false numbers and I would urge you to take care of this immediatly, as adding new features sure comes after addressing issues where customers are given wrong account information.
    Please let me know if I have to setoff these FX trades myself and this will take care of the issue, even if I have to pay 3$ per FX transaction necessary or if you are taking care of the problem.

    I've posted this as a IB Webticket as well, but I want to know, if I'm the only one affected or if there are more out there having the same problem
  2. Steve_IB

    Steve_IB Interactive Brokers

    Your FX cash balances are listed in the "Cash Balance" column. These balances were probably generated by you making a profit in a product of that currency. e.g. your base is US$, but you made profit trading Hang Seng futures and that shows up as a balance in HK$. If you want to convert these into US$ then you can do the trade on IDEAL.

    The button "Include FX positions", is for FX traders who want to keep track of which particular currency pair they are trading. You can elect not to display this, or you can right click on the line and adjust as you please.
  3. croc1964


    you are right that I trade HSI futures and generated HKD profits as I do trading futures denominated in other currencies. But as of this morning (and as of nearly every morning during the year) all my positions are closed and I still see Unrealized P&L in different currencies.

    When I trade HSI futures, as long as the position is open I see any profit or loss in the Unrealized P&L column, the moment I close a position Unrealized P&L is supposed to go to zero and any profit or loss is shown in the Realized P&L column.

    If I'm flat overnight the Unrealized P&L and the Realized P&L columns should be at zero in the morning as long as I make no trade.

    But with IB TWS that's not the case. Opening the account window, having no open position at all, I still see an Unrealized P&L of -385.19 USD which fluctuates with exchange rate changes.

    I just want to know, if I have open FX positions I never consciously opened, which generate a negative P&L for which I have to pay interest or if there is a problem with the IB TWS account window.

    Ps.: Did I mention, that my account statements which I get by email do not show anything of this Unrealized P&L.

  4. Steve_IB

    Steve_IB Interactive Brokers

    Your cash balances show your position in that particular currency. Interest is applied per currency - so if any of these figures are negative then interest will be debited.

    Your base currency balance will fluctuate because the exchange rate fluctuates
  5. croc1964


    so I have to pay interest on this Unrealized P&L. That's very interesting!

    Please take a look at the attached Portfolio, where I elected to include FX positions.

    The second row shows a JPY/HKD balance of -11682 and an unrealized P&L of -35.02HKD
    The third row shows a HKD/JPY balance of -2000 and an unrealized P&L of -2070 Yen

    If I'm short Yen/HKD I'm long HKD/Yen or vice versa.
    But I can't be short Yen/HKD and short HKD/Yen at the same time in one account.
    Still that's what my Portfolio (including the FX positions) tells me.

    Not to mention, that I never traded any japanese instruments denominated in HKD, so I for sure have no idea whatsoever where these 2 positions might come from.

  6. Steve_IB

    Steve_IB Interactive Brokers

    No, I didn't say that. Please re-read the above posts.

    nterest depends on your settled cash. Like I said, please look at your cash balance on the TWS. You can see each currency. On the screenshot you sent, there are no negative cash balances.

    The currency pair P&L's are aimed for currency traders. If it's distracting, then you can right click on the position and select Adjust Position, and set it to 0.

    You may also wish to check the user guide which explains the Account Window page. You can also set-up a chat with a CSR if you do not understand it.
  7. me1969


    Hi I have the same problem. It has to be a bug within TWS. I was told by the Swiss IB helpdesk that I should not bother. The issue should be solved with the next TWS build. My "unrealized loss" is only some bucks and it does not show up in my statement and as far as I know that's what counts. Anyway, it is kind of annoying...
  8. croc1964



    actually the only thing which bothers me is, that I start every day with around -380 USD unrealized P&L regardless whether I select to show FX positions in the portfolio or not.

    It's like fighting an uphill battle every day.

  9. Steve_IB

    Steve_IB Interactive Brokers

    Quoting from my first post:
    "you can right click on the line and adjust as you please".
    Quoting from my third post:
    "If it's distracting, then you can right click on the position and select Adjust Position, and set it to 0."

    Just to clarify:
    - right click in the Porfolio section on the line where the currency pair position shows
  10. croc1964


    Thank's Steve,
    I had not read your post correctly, sorry.

    Unfortunatly it's not working either.
    I get a window saying

    Order type is invalid

    once I try to adjust the position

    And if I create a portfolio page from these FX positions they look quite real to me, even if I still have no idea where they come from.

    #10     Feb 21, 2007