• If client has enough balance in USD, it will be used for execution of the order.
• If not, IBCE will automatically convert an equivalent amount of USD from other supported currencies with a positive balance.
• If the same client wishes to sell his USD denominated security at a later date, IBCE will NOT convert the proceeds back to one of the supported currencies.
• Client can use proceeds in USD for purchasing US stocks or withdraw them.
• Conversion to other currencies not connected to withdrawing funds is not allowed.
• Client can withdraw funds in Major Currencies, Home currency and positive balances held in the account. If the client wants to withdraw funds, the system checks first if there is sufficient available funds in the requested or other supported currencies to cover 100% of the withdrawal amount. If there is no sufficient funds in the requested currency, IBCE will automatically convert positive balances in the supported currencies to the requested one.

• If client borrows EUR, he can decide what to do with the negative EUR balance. This negative balance can be closed by converting from any other supported currency or remain in the account.
• If the same client wishes to sell his EUR denominated security at a later date, IBCE will NOT convert the proceeds back to one of the supported currencies.
• Client can use proceeds in EUR for purchasing EU stocks or withdraw them.
• Conversion to other currencies not connected to withdrawing funds is not allowed.
• Client can withdraw funds in Major Currencies, Home currency and positive balances held in the account. If the client wants to withdraw funds, the system checks first if there is sufficient available funds in the requested or other supported currencies to cover 100% of the withdrawal amount. If there is no sufficient funds in the requested currency, IBCE will automatically convert positive balances in the supported currencies to the requested one.

• IBCE does NOT charge clients for automatic currency conversion.
• Commissions for currency conversion used for closing a negative balance are presented on our website.
• Supported currency is a currency in which client can make deposits and hold a positive balance: EUR, USD, CHF, GBP, HUF, CZK, PLN, NOK, DKK and SEK.
• Major currencies: USD and EUR.
• Home currency: Currency of client’s country of legal residence.

• If the same client wishes to sell his CAD denominated security at a later date, IBCE will auto convert the proceeds back to the base currency.
• The same process occurs when cash flows are generated from positions (e.g. dividends, interest). Conversion takes place when the cash is credited to or debited from the account, not when it is accrued.

• Client can decide what to do with the negative CAD balance. This negative balance can be closed by converting from any other supported currency or remain in the account.
• If the same client wishes to sell his CAD stock at a later date, IBCE will automatically convert the proceeds to the base currency as CAD is not a supported currency.

• IBCE does NOT charge clients for automatic currency conversion.
• Commissions for currency conversion used for closing a negative balance are presented on our website.
• Supported currency is a currency in which client can make deposits and hold a positive balance: EUR, USD, CHF, GBP, HUF, CZK, PLN, NOK, DKK and SEK.

• For Margin accounts, the client can open long positions that create cash debits (loans) in any currency. IBCE will not auto-convert your transaction but will create an investment loan in the currency of the trade. It will be the client’s discretion when to initiate a currency conversion to close the negative balance in part or in full.
• For Cash accounts, the client CANNOT open long positions that create cash debits (loans). Nevertheless, client can open long positions in any foreign product regardless of the currency in which it is denominated. IBCE will auto convert the value of the transaction from the positive balance in supported currencies held in the account.
• For both Margin and Cash accounts, any positive cash that is generated as the result of a trade or cash flows from a position you hold (e.g. dividends, coupon, interest) will NOT be auto-converted if it is the supported currency (EUR, USD, CHF, GBP, HUF, CZK, PLN, DKK, SEK and NOK).
• For both Margin and Cash accounts, any positive cash that is generated as the result of a trade or cash flows from a position you hold (e.g. dividends, coupon, interest) will be auto-converted if it is NOT the supported currency.
• For both Margin and Cash accounts, the client can withdraw funds in Major Currencies, Home currency and positive balances held in the account. If the client wants to withdraw funds, the system checks first if there is sufficient available funds in the requested or other supported currencies to cover 100% of the withdrawal amount. If there is no sufficient funds in the requested currency, IBCE will automatically convert positive balances in the supported currencies to the requested one.
• For both Margin and Cash accounts, the client can use the option “Withdraw All Available Cash”, which allows to withdraw all available funds in one currency: Major Currencies or Home currency. IBCE will automatically convert positive balances in the supported currencies to the requested one without leaving residuals.

• IBCE does NOT charge clients for automatic currency conversion.
• Commissions for currency conversion used for closing a negative balance are presented on our website.
• Supported currency is a currency in which client can make deposits and hold a positive balance: EUR, USD, CHF, GBP, HUF, CZK, PLN, NOK, DKK and SEK.
• Major currencies: USD and EUR.
• Home currency: Currency of client’s country of legal residence.
• System shows the projected Cash Available for Withdrawal. The final withdrawal amount may differ from the requested due to fluctuation in currency exchange rates. 
• Interactive Brokers Central Europe accounts are not allowed to withdraw funds on margin due to regulatory reasons.
• The same currency pairs can be traded as Forex CFD. Contracts For Difference are complex instruments, and we invite you to carefully review the CFDs risk warnings before trading these instruments.

• IBCE does NOT charge clients for automatic currency conversion.
• Supported currency is a currency in which client can make deposits and hold a positive balance: EUR, USD, CHF, GBP, HUF, CZK, PLN, NOK, DKK and SEK.
• Major currencies: USD and EUR.
• Home currency: Currency of client’s country of legal residence.
• System shows the projected Cash Available for Withdrawal. The final withdrawal amount may differ from the requested due to fluctuation in currency exchange rates. 
• Interactive Brokers Central Europe accounts are not allowed to withdraw funds on margin due to regulatory reasons.
• The changes mentioned above are effective since October 17, 2022.

In line with many financial institutions, IBKR has reduced exposure to the Russian Ruble, (“RUB”) and has discontinued all cashiering services for Russian Rubles, including all withdrawals and currency conversions.

Specifically:

Deposits in RUB: IBKR is no longer accepting deposits of RUB.  Any deposit in RUB will be rejected.

IBKR will periodically convert RUB balances to USD or EUR, depending on the IBKR entity with which you have an account.  

• IBKR will convert RUB to USD or EUR according to your IBKR entity:

Withdrawals in RUB: IBKR is not able to accommodate RUB withdrawals at this time.

Base Currency: IBKR does not currently allow clients to maintain RUB as their base currency.  If you previously used RUB as your base currency, we converted it to USD or EUR depending on which IBKR entity your account is with (see chart above).

IBKR is fully committed to complying with all applicable sanctions laws. We appreciate your cooperation and your business.

特定の商品の購入と決済にどの通貨が必要となるかは、IBKRではなく上場取引所によって決定されます。例として、お客様が保有されていない通貨建ての有価証券を購入する取引を行うとし、またお客様がマージン口座と十分な証拠金を保有される場合、IBKRではこの資産に対してローンを組みます。これは、クリアリングハウスとの取引を、指定されている通貨のみで決済する義務がIBKRにあるためです。ローンおよびこれによる金利の発生をご希望でない場合には、あらかじめ必要となる通貨と金額を口座に入金するか、口座内の資金を両替する必要があります。どちらもTWSより、IdealPro（USD 25,000または同等額以上の場合）または奇数ロット（USD 25,000または同等額以下の場合）を利用してできます。

また、ある通貨建ての有価証券ポジションを決済すると、この通貨が口座に選択されている基準通貨であるかどうかに関わらず、収益はこの通貨に留まることにご注意下さい。よってこういった収益は通貨を両替するか、またはこの収益をその他の類似の通貨建ての商品に利用するまで、基準通貨に対する為替レートのリスクの対象となります。

ESMA Rules for CFDs (Retail Clients only)
The European Securities and Markets Authority (ESMA) has enacted new CFD rules effective 1st August
2018.

The rules include: 1) leverage limits on the opening of a CFD position; 2) a margin close out rule on a per
account basis; and 3) negative balance protection on a per account basis.

The ESMA Decision is only applicable to retail clients. Professional clients are unaffected.
Please refer to the following articles for more detail:

ESMA CFD Rules Implementation at IBKR (UK) and IBKR LLC

ESMA CFD Rules Implementation at IBIE and IBCE

Introduction
A London Gold CFD enables you to have exposure to price movements of physical Gold without actually owning it. A London Gold CFD is an agreement between you and IBKR to exchange the difference in price of the underlying over a period of time. The difference to be exchanged is determined by the change in the reference price of the underlying. Thus, if the price of physical Gold traded on the London bullion market rises and you are long the CFD, you receive cash from IBKR and vice versa. A London Gold CFD can be bought long or sold short to suit your view of market direction in the future.

Contract Specifications

Price Determination
The IBKR London Gold and Silver CFDs reference physical Gold and Silver traded on the London bullion market. The London bullion market is a wholesale over-the-counter market for the trading of precious metals. Trading is conducted among members of the London Bullion Market Association (LBMA). Most of the members are major international banks.

IBKR receives quote streams from approximately 10 such major banks, in much the same way it does for cash forex. IBKR Smart routes between the banks, and the best available price at any given time becomes the reference price for the CFDs. IBKR does not add a spread to the banks’ quotes.

Low Commissions and Financing Rates: Unlike other CFD providers IBKR charges a transparent
commission, rather than widening the spread. Commission rates are only 0.015% for London Gold and 0.03% for London Silver. Overnight financing rates are just benchmark +/- 1.5% (an additional 1% surcharge is added for retail accounts).

Transparent Quotes: Because IBKR does not widen the spread, the Metals CFD quotes accurately
represent the spreads and price movements of the related cash metal, as described above.

Margin Efficiency: IBKR establishes house-margin requirements based on historic volatility of the
underlying and other factors. Retail clients are subject to regulatory minimum initial margins of 5% for
London Gold or 10% for London Silver. 

Trading Permissions: Same as for Share and Index CFDs.

Market Data Permissions: Metals CFD market data is free, but a permission is required for system
reasons.

Worked Trade Example (Professional Clients):

You purchase 100 XAUUSD CFDs at $1,942.5 for USD 194,250 which you then hold for 5 days.

Closing the Position

CFD Resources
Below are some useful links with more detailed information on IB’s CFD offering:

CFD Product Listings

CFD Commissions

CFD Financing Rates

CFD Margin Requirements

CFD Contract Specifications

Frequently asked Questions

Are short Metals CFDs subject to forced buy-in?
No.

Can I take delivery of the underlying metal?

No, IBKR does not support physical delivery for Metals CFDs.

Are there any market data requirements?
The market data for Metal CFDs is free, and is included the market data for Index CFDs. However, you need to subscribe to the permission for system reasons. To do this, log into Account Management, and click through the following tabs: Settings/User Settings/Trading Platform/Market Data Subscriptions. Alternatively you can set up an Index or Metals CFD in your TWS quote monitor and click the “Market Data Subscription Manager” button that appears on the quote line.

How are my CFD trades and positions reflected in my statements?
If you are a client of IBKR (U.K.) or IBKR LLC, your CFD positions are held in a separate account segment identified by your primary account number with the suffix “F”. You can choose to view Activity Statements for the F-segment either separately or consolidated with your main account. You can make the choice in the statement window in Account Management.

If you are a client of other IBKR entities, there is no separate segment. You can view your positions normally alongside your non-CFD positions.

In what type of IB accounts can I trade CFDs e.g., Individual, Friends and Family,
Institutional, etc.?
All margin and cash accounts are eligible for CFD trading. 

Can I trade CFDs over the phone?
No. In exceptional cases we may agree to process closing orders over the phone, but never opening
orders.

Can anyone trade IB CFDs?
All clients can trade IB CFDs, except residents of the USA, Canada, Hong Kong, New Zealand and
Israel. There are no exemptions based on investor type to the residency-based exclusions.