Forex(FX)に関するご案内

概観: 

弊社ではForex中心のトレーダーのお客様、また複数通貨の株式および/またはデリバティブ取引によるForexアクティビティが場合によって必要となるお客様の両方に、取引の場所とプラットフォームをご提供しています。こちらのアーティクルではTWSプラットフォーム上でのForex注文の基本、ならびにクオートの方法とポジション(取引後)のレポートに関する注意点をご説明します。

Background: 

Forex(FX)取引とは、通常通貨ペアと呼ばれる一組の通貨のうちのひとつの購入と、もうひとつの売却を同時に行うことを指します。 下記ではEUR.USDのクロスペアを例に取り上げます。ペアのひとつめ(EUR)は購入または売却を希望する取引通貨、ふたつめの通貨(USD)は決済通貨になります。

 

アーティクル内の特定のトピックへジャンプする:

 

Forex価格のクオート

通貨ペアとは為替取引市場において、ある通貨単位に対する別の通貨単位の相対的価値の相場を指します。参照として使用される通貨をクオート通貨、またこれに相対して見積もりの出される通貨を基準通貨といいます。TWSでは各通貨ペアに対してひとつのティッカーシンボルを提供しています。見積もりの変更にはFXTraderをご利用ください。基準通貨およびクオート通貨の売買が可能です。例:EUR/USD通貨ペアのティッカーシンボルは以下の様になります:

EUR.USD

基準通貨とクオート通貨は以下の様になります:

  • EUR基準通貨
  • USDクオート通貨

この通貨ペアの価格は、EUR(基準通貨)の1単位を取引するにあたり、USD(クオート通貨)が何単位必要になるかを表しています。言い換えると1 EURの価格に対するUSDの見積もりになります。

EUR.USDの買い注文は、取引価格に基づいてEURを買い、これに相当する額のUSDを売ります。

 

クオートラインの作成

 
TWSに通貨のクオートラインを追加する際の手順は以下の様になります:
1. 取引通貨(例: EUR)を入力してENTERキーを押します。
2. 商品タイプにForex
を選択

3. 決済通貨(例: USD)を入力してForexの取引所を選択します。

 

 

注意点:

IDEALFXでは、IDEALFXにおける必要最低量(通常25,000 USD)を超える注文に対し、インターバンク為替市場のリアルレートへダイレクトアクセスを提供しています。必要最低量に満たない注文でIDEALFXに発注されたものは、主に規模の小さい取引所の自動的に再ルーティングされ、両替されます。IDEALFXにおける必要最低数および最大数に関する詳細は こちらをクリックしてください。 

通貨のディーラーはFXペアを特定の方向でクオートします。 このため希望の通貨ペアを探す際に、通貨シンボルを調整する必要が出てくる可能性があります。 例えば通貨シンボルにCADが使用されている場合、決済通貨のUSDがコントラクトの選択ウィンドウに表示されなくなります。 これはこのペアがUSD.CADとしてクオートされ、USDを原資産シンボルとして入力してからForexを選択する方法でしかアクセスができないためです。


 始めに戻る

 

注文の作成

 

表示されるヘッダーによって通貨ペアは以下の様に表示されます;
コントラクトおよび詳細のコラムに、取引通貨.決済通貨(例: EUR.USD)のフォーマットでペアが表示されます。 原資産のコラムには取引通貨のみが表示されます。

表示されるヘッダーの変更に関する詳細はこちらをクリックしてください。


 

1. 注文の発注にはビッド(売りの場合)またはアスク(買いの場合)を左クリックしてください。

2. 買いまたは売りをご希望の取引通貨の数量を指定してください。注文の数量は、基準通貨で表示します。これはTWS内の通貨ペアにおいてひとつめの通貨になります。

弊社ではForexにおける基準通貨の固定額に相当するコントラクトに関する把握をしておりません。基準通貨の額として必要となるのはお客様の取引数量です。

例えば100,000 EUR.USDを購入する注文は100,000 EURを買い、これに相当する数量のUSDを表示される為替レートに基づいて売ることになります。

3. ご希望の注文タイプと為替レート(価格)を指定して、注文を発注してください。

注意:  注文はどの通貨単位でも発注可能であり、上記に記載される取引所による必要最低額以外のコントラクトやロットサイズの必要最低数はありません。

共通するご質問: FXTraderを利用しての発注方法を教えてください。

始めに戻る

 

Pip価値

Pipとは通貨ペアの変化を測定するものであり、殆どのペアのpipは最小になっていますが、中にはpipの変化が端数のものもあります。

例:EUR.USDペアの1 pipは0.0001ですが、USD.JPYペアの1 pipは0.01です。

クオート通貨の単位内での1 pip価値の計算には以下の公式が利用されます:

(想定元本) x (1 pip)

例:

  • ティッカーシンボル = EUR.USD
  • 金額 = 100,000 EUR
  • 1 pip = 0.0001

1 pip価値 = 100’000 x 0.0001= 10 USD

  • ティッカーシンボル = USD.JPY
  • 金額 = 100’000 USD
  • 1 pip = 0.01

1 pip価値 = 100’000 x (0.01)= JPY 1000

為替レートの単位内での1 pip価値の計算には以下の公式が利用されます:

(想定元本) x (1 pip/為替レート)

例:

  • ティッカーシンボル = EUR.USD
  • 金額 = 100’000 EUR
  • 1 pip = 0.0001
  • 為替レート = 1.3884

1 pip価値 = 100’000 x (0.0001/1.3884)= 7.20 EUR

  • ティッカーシンボル = USD.JPY
  • 金額 = 100’000 USD
  • 1 pip = 0.01
  • 為替レート = 101.63

1 pip価値 = 100’000 x (0.01/101.63)= 9.84 USD

 

ポジション(取引後)のレポート

 

FXポジションの関する情報は弊社における取引の重要な側面であり、ライブ口座での取引前にご理解いただく必要があります。 弊社の取引ソフトウェアでは2カ所にFXポジションが表示され、両方とも口座ウィンドウから確認することができます。

 

1. 市場価格

口座ウィンドウの市場価格のセクションでは、各通貨(通貨ペアではなく)それぞれのリアルタイムのレートによる通貨ポジションが表示されます。 

リアルタイム反映する口座ウィンドウのFXポジションに関する情報の確認は、口座ウィンドウの市場価格のセクションのみで確認か可能です。 複数通貨のポジションを保有される方は、ポジションを建てる際に使用したペアと同じものを使用してクローズする必要はありません。 例えばEUR.USD(EURを購入してUSDを売却)を購入し、またUSD.JPY(USDを購入してJPYを売却)を購入した場合、EUR.JPY(EURを売却してJPYを購入)の取引のよって最終的なポジションをクローズすることができます。

注意点:

市場価格のセクションは拡張/縮小が可能です。 流動性資産価値のコラムの真上に表示されるシンボルが、緑色のマイナスサインになっていることをご確認ください。 緑色のプラスサインになっている場合には、注文中のポジションが隠れていることがあります。

 

取引のクローズは市場価値のセクションでクローズをご希望の通貨を右クリックし、「選択した通貨残高を口座通貨の残高へ両替」または「基準通貨以外の全ポジションのクローズ」を選択してください。

 

 2. FXポートフォリオ

 口座ウィンドウのFXポートフォリオのセクションでは、仮想ポジションの兆候を提示し、また地上価格のセクションとは異なり通貨ごとではなくて通貨ペアでポジション情報を表示します。 この表示方法は機関のForexトレーダーに共通する習慣に合わせたものであり、個人のトレーダーやForex取引を頻繁に行わない方を対象とするものであはありません。FXポートフォリオのポジション数はすべてのFXアクティビティを反映しているわけではありませんが、この項目に表示されるポジション数と平均コストは変更することができます。 取引を執行せずにポジションと平均コストに関する情報を変更できる機能は、基準通貨ではない商品の取引に加えて通貨取引をされるお客様に向いています。 この機能を利用するとFX取引アクティビティから自動的に行われた(基準通貨ではない通貨の商品を取引すると自動的に発生します)通貨の変換をマニュアルで分けることができます。 

 FXポートフォリオの項目は、その他すべての取引ウィンドウに表示されるFXポジションと損益の基礎になっています。 実際およびリアルタイムのポジションに関連する情報を割り出す際に、若干の混乱をきたすことがあります。 混乱を避けるため、下記の作業を行っていただくことをお薦めします;

 

a. FXポートフォリオの項目を縮小する

FXポートフォリオと表示される左側にある矢印をクリックすると、FXポートフォリオの項目が縮小されます。 この項目を縮小すると仮想ポジションの情報がすべての取引ページに表示されなくなります。(注意: これによって市場価値に関する情報が表示されることはなく、FXポジションの情報が非表示になるだけです。

 

 

b. ポジションまたは平均価格の調整

口座ウィンドウのFXポートフォリオ項目内で右クリックすると、ポジションと平均価格の調整ができます。 基準通貨ではない通貨のポジションをすべてクローズし、市場価値の項目で基準通貨ではない通貨のポジションがすべてクローズされていることを確認したら、ポジションと平均価格の欄を0にリセットすることができます。 これによりFXポートフォリオの項目に反映されるポジション数がリセットされ、取引画面により正確なポジションと損益に関する情報が表示されるようになります。注意: こちらはマニュアルでの作業になり、通貨ポジションがクローズされる度に行う必要があります。 ポジションに関する情報は常に市場価値の項目からご確認の上、発注された注文がご希望のオープニングおよびクロージングポジションを達成していることをご確認ください。

 

ライブ口座でお取引を始める前にペーパー取引口座、またはデモ口座でFX取引をお試しいただくことをお薦めいたします。 上記の情報に関する詳細をご希望の場合には弊社までご連絡ください。

始めに戻る

 

 

 

その他の共通するご質問:

 

 

 

 

Welcome to Interactive Brokers

概観: 

Now that your account is funded and approved you can start trading. The information below will help you getting
started as a new customer of Interactive Brokers.

  1. Your Money
  2. Configure your account to trade
  3. How to trade
  4. Trade all over the World
  5. Five points to enrich your IB experience

 

1. Your Money
Deposits & Withdrawals General Info. All transactions are administered through your secure Account Management
Deposits
First, you create a deposit notification through your Account Management > Funding > Fund Transfers > Transaction Type: “Deposit” How to create a deposit notification. The second step is to instruct your Bank to do the wire transfer with the bank details provided in your Deposit Notification.
Withdrawals
Create a withdrawal instruction via your secure Account Management > Funding > Fund Transfers > Transaction Type: "Withdrawals" How to create a withdrawal instruction
If you instruct a withdrawal over the Withdrawal limits, it will be considered an exceptional withdrawal and we will therefore need to match bank account holder and IB account. If destination bank account has been used for a deposit, withdrawal will be processed; otherwise, you must contact customer service and provide the documents needed.
Troubleshooting
Deposits: My bank sent the money but I do not see it credited into my IB account. Possible reasons:
a) A fund transfer takes 1-4 business days
b) A Deposit Notification is missing. You have to create it via your Account Management and send a ticket to Customer Service
c) Amending details are missing. Your name or IB account number is missing in the transfer details. You have to contact your bank and ask for the full amending details.
d) ACH initiated by IB is limited to 100k USD in a 7 business period. If you opened a Portfolio Margin account where the initial requirement is 110k, a wire deposit might be the better deposit option to reduce wait time for your first trade. If selecting ACH a wait time of almost 2 weeks or a temporary downgrade to RegT can be possible solutions.
Withdrawals: I have requested a withdrawal but I do not see the money credited to my bank account. Possible reasons:
a) A fund transfer takes 1-4 business days
b) Rejected. Over the max it can be withdrawn. Please check your account cash balance. Note that for regulatory requirements, when the funds are deposited, there is a 3 day holding period before they can be withdrawn.
c) Your bank returned the funds. Probably because receiving bank account and remitting bank account names do not match.

 

2. Configure your account to trade
Difference between Cash and Margin accounts: If you have chosen the FastTrack application, by default your account type is a cash account with US stock permission. If you would like to get leverage and trade on margin, here how to upgrade to a RegT Margin account
Trading Permissions
In order to be able to trade a particular asset class in a particular country, you need to get the trading permission for it via your Account Management. Please note that trading permissions are free. You might however be asked to sign risk
disclosures required by local regulatory authorities. How to Request Trading Permissions
Market Data
If you want to have market data in real-time for a particular product/exchange, you need to subscribe to a market data package charged by the exchange. How to subscribe to Market data
The Market data assistant will help you choose the right package. Please watch this Video explaining how it works.
Customers have the option to receive delayed market data for free by clicking the Free Delayed Data button from a non-subscribed ticker row.
Advisor Accounts
Have a look at the user guide getting started as advisors. Here you see how to create additional users to your advisor account and grant them access and much more.

 

3. How to trade
The Trader's University is the place to go when you want to learn how to use our Platforms. Here you will find our webinars, live and recorded in 10 languages and tours and documentation about our various Trading Platforms.
Trader Workstation (TWS)
Traders who require more sophisticated trading tools can use our market maker-designed Trader Workstation (TWS), which optimizes your trading speed and efficiency with an easy-to-use spreadsheet interface, support for more than 60 order types, task-specific trading tools for all trading styles, and real-time account balance and activity monitoring. Try the two models
TWS Mosaic: for intuitive usability, easy trading access, order management, watchlist, charts all in one window or
TWS Classic: the Advanced Order Management for traders who need more advanced tools and algos.
General Description and Information / Quick start guide / Usersguide
Interactive Tours: TWS Basics / TWS configuration / TWS Mosaic
How to place a trade:  Video Classic TWS / Video Mosaic
Trading tools: General Description and InformationUsers guide
Requirements: How to install Java for WindowsHow to install Java for MAC / Port 4000 and 4001 needs to be open
Login TWSDownload TWS
WebTrader
Traders who prefer a clean and simple interface can use our HTML-based WebTrader, which makes it easy to view market data, submit orders, and monitor your account and executions. Use the latest WebTrader from every browser
Quick Start Guide / WebTrader User's Guide
Introduction: Video WebTrader
How to place a Trade: Video WebTrader
Login WebTrader
MobileTrader
Our mobile solutions allow you to trade your IB account on the go. The mobileTWS for iOS and the mobileTWS for BlackBerry are custom-designed for these popular models, while the generic MobileTrader supports most other Smart phones.
General Description and Information
Order Types Order Types available and Description / Videos / Tour / Users guide
Paper Trading General Description and Information / How to get a Paper Trading Account
Once your paper account is created, you can share the market data of your real account with your paper trading account: Account Management > Manage Account > Settings > Paper trading

 
4. Trade all over the World
IB accounts are multi-currency accounts. Your account can hold different currencies at the same time, this allows you to trade multiple products around the world from a single account.
Base Currency
Your base currency determines the currency of translation for your statements and the currency used for determining margin requirements. Base currency is determined when you open an account. Customers may change their base currency at any time through Account Management.
We do not automatically convert currencies into your Base currency
Currency conversions must be done manually by the customer. In this video you can learn how to do a currency conversion.
In order to open a position denominated in a currency that you do not have in your account, you have two possibilities:
A) Currency conversion.
B) IB Margin Loan. (Not available for Cash Accounts)
Please see this course explaining the mechanics of a foreign transaction.

 

5. Five points to enrich your IB experience
1. Contract Search
Here you will find all our products, symbols and specifications.
2. IB Knowledge Base
The Knowledge Base is a repository of glossary terms, how-to articles, troubleshooting tips and guidelines designed to assist IB customers with the management of their IB accounts. Just enter in the search button what you are looking for and you will get the answer.
3. Account Management
As our trading platforms give you access to the markets, the Account Management grants you access to your IB account. Use Account Management to manage account-related tasks such as depositing or withdrawing funds, viewing your statements, modifying market data and news subscriptions, changing your trading permissions, and verifying or changing your personal information.
Log In Account Management / AM Quick Start Guide / AM Users Guide
4. Secure Login System
To provide you with the highest level of online security, Interactive Brokers has implemented a Secure Login System (SLS) through which access to your account is subject to two-factor authentication. Two-factor authentication serves to confirm your identity at the point of login using two security factors: 1) Something you know (your username and password combination); and 2) Something you have (an IB issued security device which generates a random, single-use security code). As both knowledge of your username/password and physical possession of the security device are required to login to your account, participation in the Secure Login System virtually eliminates the possibility of anyone other than you accessing your account.
How to Activate your Security Device / How to Obtain a Security Code Card / How to return Security device
In case you forgot your password or lost your security code card, please call us for immediate assistance.
5. Statements and Reports
Easy to view and customize, our statements and reports cover all aspects of your Interactive Brokers account. How to view an Activity Statement 

 

An Introduction to Forex (FX)

概観: 

IB offers market venues and trading platforms which are directed towards both forex-centric traders as well as traders whose occasional forex activity originates from multi-currency stock and/or derivative transactions. The following article outlines the basics of forex order entry on the TWS platform and considerations relating to quoting conventions and position (post-trade) reporting.

Background: 

A forex (FX) trade involves a simultaneous purchase of one currency and the sale of another, the combination of which is commonly referred to as a cross pair.  In the examples below the EUR.USD cross pair will be considered whereby the the first currency in the pair (EUR) is known as the transaction currency that one wishes to buy or sell and the second currency (USD) the settlement currency.

 

Jump to a specific topic in this article;

 

Forex Price Quotes

A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as reference is called quote currency, while the currency that is quoted in relation is called base currency. In TWS we offer one ticker symbol per each currency pair. You could use FXTrader to reverse the quoting. Traders buy or sell the base currency and sell or buy the quote currency. For ex. the EUR/USD currency pair’s ticker symbol is:

EUR.USD

where:

  • EUR is the base currency
  • USD is the quote currency

The price of the currency pair above represents how many units of USD (quote currency) are required to trade one unit of EUR (base currency). Said in other words, the price of 1 EUR quoted in USD.

A buy order on EUR.USD will buy EUR and sell an equivalent amount of USD, based on the trade price.

 

Creating a quote line

 
The steps for adding a currency quote line on the TWS are as follows:
1.  Enter the transaction currency (example: EUR) and press enter.
2.  Choose the product type forex  

3.  Select the settlement currency (example: USD) and choose the forex trading venue.

 

 

Notes:

The IDEALFX venue provides direct access to interbank forex quotes for orders that exceed the IDEALFX minimum quantity requirement (generally 25,000 USD). Orders directed to IDEALFX that do not meet the minimum size requirement will be automatically rerouted to a small order venue principally for forex conversions. Click HERE for information regarding IDEALFX minimum and maximum quantities. 

Currency dealers quote the FX pairs in a specific direction.  As a result, traders may have to adjust the currency symbol being entered in order to find the desired currency pair.  For example,  if the currency symbol CAD is used, traders will see that the settlement currency USD cannot be found in the contract selection window.  This is because this pair is quoted as USD.CAD and can only be accessed by entering the underlying symbol as USD and then choosing Forex.


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Creating an order

 

Depending on the headers that are shown, the currency pair will be displayed as follows;
The Contract and Description columns will display the pair in the format Transaction Currency.Settlement Currency (example: EUR.USD).  The Underlying column will display only the Transaction Currency.

Click HERE for information regarding how to change the shown column headers.


 

1.  To enter an order, left click on the bid (to sell) or the ask (to buy).

2.  Specify the quantity of the trading currency you wish to buy or sell. The quantity of the order is expressed in base currency, that is the first currency of the pair in TWS.

Interactive Brokers does not know the concept of contracts that represent a fixed amount of base currency in Foreign exchange, rather your trade size is the required amount in base currency.

For example, an order to buy 100,000 EUR.USD will serve to buy 100,000 EUR and sell the equivalent number of USD based on the displayed exchange rate.

3.  Specify the desired order type, exchange rate (price) and transmit the order.

Note:  Orders may be placed in terms of any whole currency unit and there are no minimum contract or lot sizes to consider aside from the market venue minimums as specified above.

Common Question: How is an order entered using the FX Trader?

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Pip Value

A pip is measure of change in a currency pair, which for most pairs represents the smallest change, although for others changes in fractional pips are allowed.

For ex. in EUR.USD 1 pip is 0.0001, while in USD.JPY 1 pip is 0.01.

To calculate 1 pip value in units of quote currency the following formula can be applied:

(notional amount) x (1 pip)

Examples:

  • Ticker symbol = EUR.USD
  • Amount = 100,000 EUR
  • 1 pip = 0.0001

1 pip value = 100’000 x 0.0001= 10 USD

  • Ticker symbol = USD.JPY
  • Amount = 100’000 USD
  • 1 pip = 0.01

1 pip value = 100’000 x (0.01)= JPY 1000

To calculate 1 pip value in units of base currency the following formula can be applied:

(notional amount) x (1 pip/exchange rate)

Examples:

  • Ticker symbol = EUR.USD
  • Amount = 100’000 EUR
  • 1 pip = 0.0001
  • Exchange rate = 1.3884

1 pip value = 100’000 x (0.0001/1.3884)= 7.20 EUR

  • Ticker symbol = USD.JPY
  • Amount = 100’000 USD
  • 1 pip = 0.01
  • Exchange rate = 101.63

1 pip value = 100’000 x (0.01/101.63)= 9.84 USD

 

Position (Post-Trade) Reporting

 

FX position information is an important aspect of trading with IB that should be understood prior to executing transactions in a live account.  IB's trading software reflects FX positions in two different places both of which can be seen in the account window.

 

1. Market Value

The Market Value section of the Account Window reflects currency positions in real time stated in terms of each individual currency (not as a currency pair). 

The Market Value section of the Account view is the only place that traders can see FX position information reflected in real time.  Traders holding multiple currency positions are not required to close them using the same pair used to open the position.  For example, a trader that bought EUR.USD (buying EUR and selling USD) and also bought USD.JPY (buying USD and selling JPY) may close the resulting position by trading EUR.JPY (selling EUR and buying JPY).

Notes:

The Market Value section is expandable/collapsible.  Traders should check the symbol that appears just above the Net Liquidation Value Column to ensure that a green minus sign is shown.  If there is a green plus symbol, some active positions may be concealed.

 

Traders can initiate closing transactions from the Market Value section by right clicking on the currency that they wish to close and choosing "close currency balance" or "close all non-base currency balances".

 

 2. FX Portfolio

 The FX Portfolio section of the account window provides an indication of Virtual Positions and displays position information in terms of currency pairs instead of individual currencies as the Market Value section does.  This particular display format is intended to accommodate a convention which is common to institutional forex traders and can generally be disregarded by the retail or occasional forex trader. FX Portfolio position quantities do not reflect all FX activity, however, traders have the ability to modify the position quantities and average costs that appear in this section.  The ability to manipulate position and average cost information without executing a transaction may be useful for traders involved in currency trading in addition to trading non-base currency products.  This will allow traders to manually segregate automated conversions (which occur automatically when trading non base currency products) from outright FX trading activity. 

 The FX portfolio section drives the FX position & profit and loss information displayed on all other trading windows.  This has a tendency to cause some confusion with respect to determining actual, real time position information.  In order to reduce or eliminate this confusion, traders may do one of the following;

 

a. Collapse the FX Portfolio section

By clicking the arrow to the left of the word FX Portfolio, traders can collapse the FX Portfolio section.  Collapsing this section will eliminate the Virtual Position information from being displayed on all of the trading pages. (Note: this will not cause the Market Value information to be displayed it will only prevent FX Portfolio information from being shown.)

 

 

b. Adjust Position or Average Price

By right clicking in the FX portfolio section of the account window, traders have the option to Adjust Position or Average Price.  Once traders have closed all non base currency positions and confirmed that the market value section reflects all non base currency positions as closed, traders can reset the Position and Average Price fields to 0.  This will reset the position quantity reflected in the FX portfolio section and should allow traders to see a more accurate position and profit and loss information on the trading screens. (Note: this is a manual process and would have to be done each time currency positions are closed out.  Traders should always confirm position information in the Market Value section to ensure that transmitted orders are achieving the desired result of opening or closing a position.

 

We encourage traders to become familiar with FX trading in a paper trade or DEMO account prior to executing transactions in their live account.  Please feel free to Contact IB for additional clarification on the above information.

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Other common questions:

 

 

 

 

Currency Conversion for Trading Products in a Non-Base Currency

How to convert a currency if you wish to trade products in a currency other than the currency your account was initially funded in

For additional information on currency conversions please refer to the Knowledge base articles:

Why Are There Two Currencies Shown When Trading Forex and How Do They Work?

What Happens if I Trade a Product Denominated in a Currency Which I Do Not Hold in My Account?

 

 

Can the base currency in a cash account be changed?

Yes, cash accounts may change the base currency on their account. However, please note that IBIS, EmployeeTrack, Flat Fee Referrer, Betting and IN/JPN domeestic accounts cannot change their base currency. 

Will cash balances be converted once the designated Base Currency for the account has been changed?

It is important to note that changing your Base Currency does not serve to convert existing cash balances or change the denomination of a security into any other currency.  Cash balances will remain in their currency of denomination unless converted via IB's IdealPro (for balances of at least USD 25,000 or equivalent) or odd lot (for balances below USD 25,000 or equivalent) Forex venues.  Similarly, the denomination of securities and commodities positions cannot be changed as this is determined by the listing exchange.

Glossary terms: 

Can I convert a long cash balance to a non-base currency or trade a position denominated in a non-base currency in my cash account?

概観: 

Yes, albeit, with certain limitations.  IBKR provides cash accounts the ability to trade products denominated in a currency other than the designated base currency of the account as long as the account is classified as a multi-currency cash account (i.e., maintains Forex trading permissions).  To trade a security denominated in a non-base currency, the account holder must either first deposit the appropriate currency into their account or perform a currency conversion via the IdealPro venue.  Regardless of the method selected, one needs to ensure that a sufficient balance of the appropriate currency exists in order to cover the purchase price of the applicable security including commissions prior to submitting the order or it will be rejected. This implies that IdealPro currency conversions must settle prior to the converted funds being available for a subsequent transaction (e.g., if you are converting USD into EUR for the purpose of purchasing a EUR denominated stock, you would not be able to enter the stock order until the conversion trade had settled two business days later).

Individuals trading futures in a cash account should note that futures variation is settled in cash and any variation which serves to generate a cash deficit in any given currency type (i.e. variation exceeds available cash margin) will result in a forced position liquidation in an amount sufficient to eliminate the cash deficit.

Finally, note that cash accounts are restricted from holding a short balance in any non-base currency as this would constitute a margin loan.  In addition, clients of IB India are not allowed to maintain a multi-currency cash account and may only maintain assets which are denominated in INR.

Why does the Cash Report section of my statement reflect a reduction in cash despite no trade activity or withdrawals?

概観: 

 

The Cash Report section details how each period's cash balance changes from beginning to end. If your account holds a long or short balance in a non-base currency, such balances will be translated (but not converted) into your base currency for statement reporting and account equity aggregation purposes. The rates at which these non-base balances have been converted are detailed in the Exchange Rates section located towards the bottom of your Daily Activity Statement. All other things being equal, any change in an exchange rate from one statement period to another will result in either an increase or decrease in your ending cash balance with the net change across all non-Base currencies being reflected in the Cash FX Translation Gain/Loss line. This does not reflect a realized gain or loss on these open currency positions but rather a mark-to-market calculation across statement periods.

Glossary terms: 
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