question about IB

Discussion in 'Retail Brokers' started by matija, Jun 3, 2006.

  1. matija


    I have a question about base curency, I am 20 years old, and I can not open an margin account. So I am asking you if I can trade different stock markets that have, different curencys, or do I have to chose one, and stick with it?
    I am a bit confused, please help
  2. u can trade whatever u wish and with the currency of your choice of course.
  3. matija


    that's what I tought, but I recived this from the IB Customer Service:
    Please keep in mind the minimum age to have a margin account (which allows multi-currency products) is 21. Therefore, you will only be able to open a cash account, and trade EUR based products

  4. doesn't make sense
  5. matija


    I couldn's agree more, but what the hell did she mean by it??
    I will email them again and hopefully I will get an answer soon. confusing...
  6. def

    def Sponsor

    To trade multi-currencies, IB provides a margin loan in the foreign currency. Thus, if you are under 21 and can't open a margin account, you won't be able to trade in stocks other than the base currency. I think the one work around would be to use IDEAL to convert funds into the currency of the underlying market you want to trade.
  7. matija


    could it be possible to transfer two different curencys, like British Pound, and Canadian Dollar? what sholud I do, what can I do?