In these cases, IB does not act to automatically convert balances back to the Base Currency as this action would require assumptions as to the account holder's desired currency exposure as well as the trade price at which they would be willing to close the position.

Foreign Exchange Trading | Interactive Brokers

These steps are outlined below. Please note the feature below is specific to Trader Workstation.

Foreign Exchange Trading | Interactive Brokers

If you are using WebTrader, you must place an order to convert currency. Please see the following link for more information on WebTrader Order Entry: From the Account window, scroll down to the section titled "Market Value - Real FX Balance", place your cursor on a currency you wish to convert and right-click on the mouse to display the Close Currency menu option.

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You will be provided with two options, Close Currency Balance which will close the single currency you've selected and Close All Non-base Currency Balances which will close all. Depending upon the currency quantity you are converting and the market rate, a residual balance may remain as conversions can only be performed in whole currency amounts e. The following message will appear advising of this situation and the automated conversion which will take place thereafter.

Next, an order line for the conversion trade will be populated on the TWS. Select "T" to generate the Order Confirmation window using the default conditions or set the price and time conditions as desired.

At times the use of a market order when performing a currency conversion may result in an order rejection due to margin requirements.

The limit price is the worst price you are willing to trade at; if a better price is available your order will be executed at a better price.

Preview the order from the Order Confirmation window. Note that if your order size is below the IdealPro USD 25, equivalent minimum, it will be routed to the odd lot order book. Select the Transmit button when your desired order has been set up.

Once your order has been executed, it may be reviewed through the Trade Log icon from the TWS header. In the event a residual balance remains, it will be displayed within the Account window e.

Commissions | Interactive Brokers

MXN 7 equals approximately USD 0. For additional information on IB Forex, please see: An Introduction to Forex FX. Please note that while we read and take into consideration all feedback, we are not able to respond directly to comments or questions submitted through this forum.

Should you have an inquiry or require assistance, please contact Customer Service. Step 2 - Select the Position s to Close From the Account window, scroll down to the section titled "Market Value - Real FX Balance", place your cursor on a currency you wish to convert and right-click on the mouse to display the Close Currency menu option.

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