Looking for Broker Outside of US

Discussion in 'Retail Brokers' started by nepenthean, Dec 1, 2010.

  1. Hello.

    Can anyone recommend a broker in canada or australia friendly to US clients? Any IB clients know if you can keep your funds in a foreign currency?

    Thanks much!
  2. traders


    IB works with a Universal Account. You can select your base-currency (e.g. EUR).

    However this base currency is only for reporting purpose. If you 'native' currency is USD, and you want EUR (or something else) you still need to enter into a EURUSD transaction to get EUR instead of USD.

    So if you deposit USD and your base currency = EUR you have still USD (where the EUR reporting valuation change every day) until you do a FX Trade.