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How To Convert Currency On Interactive Brokers

Bassem - Canadian Finance Pro 28 views

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You convert 20USD, the minimum commisoin is 264, of course it is gonna be 10
Comment from : @billyhamlen9610

I can't find to convert Currency on paper trading account
Comment from : @AnnaXXX21-uq7xu

and in paper trading??
Comment from : @cicomelina1122

Many, many thanks, Bassem!!!!😊
Comment from : @esteladapper8892

Norberts Gambit is still a better option
Comment from : @kaydenkwon5345

After clicking on Trade, the Convert Currency option is no longer available Try this the next time you log in and you'll see what I mean I guess they changed the functionality sometime within the last year I see no recent videos online for this in 2024 Frustrating I'm not sure why they are hiding this basic functionality now
Comment from : @stuartthomson9630

hi great video! I tried to convert the currency around 1500 euro It shows me that i have to minimum transfer around 2000 USD But in your example it is possible to connvert a small amount - can you tell me what i am doing wrong or are there new regulations and a minimum amounnt which you have to convert?
Comment from : @nicolearmbruster2639

Hi Bassem I'm trying to exchange $1,000 of CAD to AUD I'm getting an error message, as follows; YOUR ORDER IS NOT ACCEPTED MINIMUM OF 2500 CAD (OR EQUIVALENT IN OTHER CURRENCIES) IS REQUIRED IN ORDER TO PURCHASE ON MARGIN, SELL SHORT, TRADE CURRENCY OR FUTURE I don't understand why you were able to convert such a small amount? Thank you!
Comment from : @claudiar7904

I tested this with 20 euro and lost almost 2 euro plus conversion fee I came here to see what went wrong lol 10 commision fee I read the higher you converse the better the fee, but this will eb a deal brwaker for me Holy Damn, that's daylight robbery
Comment from : @rickyismyuncle4485

I don't know why I always end up with negative values for my local currency like im just converting what i have, no?
Comment from : @nicoles_handle

Weird that I had to use a calculator to subtract the commission fee from the amount CDN I wanted to convert to USD I thought I would just convert and the commission would automatically be removed When I did the conversion it failed and told me my account was overdrawn by the commission? What am I missing
Comment from : @DeanClayworth-ys8ix

Can you send foreign currency from IBKR to your foreign account ?
Comment from : @manuvns

But do I have to change currencies before investing? For example, if I want to invest in an ETF that is in US dollars and I have €, do I have to change the currencies or can I do it without changing it?
Comment from : @zhnah2001sh

10 for currency conversion is theft
Comment from : @exrayZap-ry1gh

Always in a rush! Slow down man
Comment from : @raytailor9251

Hi Can iI convert CAD to USD inside of my Interactive Brokers TFSA account??
Comment from : @ThePlanetaua

Man, how to transfer money between your IBKR accounts like individual to RRSP or TFSA Thanks
Comment from : @adamalyafeai648

IBKR is still best than Wise?
Comment from : @andreandre7975

That's easy! What about the IBKR Desktop app? How do you convert currency?
Comment from : @pedrosmmc

Hey sir can u show me how to change to cash account please
Comment from : @funnymemezz58

I still can't figure out how to do it in TWS desktop The IB help docs say to enter in the "" format like USDEUR to buy USD for EUR, but it doesn't work
Comment from : @alchemista2

Hi there, I'm having issues to get my subscription approved for market data I have an individual non-professional cash account with less that a 1000 CAD in funds Do you know Why I cannot get a subscription, even for paper money account?
Comment from : @arosrod5694

thx 🙏
Comment from : @kamranrahmani6404

10 commission on conversion?? If i have to convert $20,000 CAD to US, I'd be paying $2000 in commissions Horrible, never using IB ever
Comment from : @sermal14

Thank you so much, exactly what I was looking for
Comment from : @kagi95

I did as you did but in Dimo it still shows me shekels and not dollars 1:14 😪😓
Comment from : @alixerkmir2097

Hi Bassem, great video Fellow Canadian here If i have CAD and want to buy US stocks, can i simply purchase the US stocks and have IKBR automatically convert for me? And when i sell the US stock will it essentially provide me funds in USD? Thats what questrade does Will that work? What is the difference with first converting using your method here? Thanks!
Comment from : @j7py

Note for myself: Click "preview" to see commission fees!
Comment from : @WasteSecond

i just added permission to trade Australia markets and wondering if i need to convert to AUD from Cad? Looks like it will let me just use CAD and it might auto convert it by looks of things Just wanna be sure before i dive in seems to be tuff to find online Thanks
Comment from : @cryptowelder

Hi Bassem - 10 conversion charges seem to be a lot Is it worth it?
Comment from : @vinodhkumarreddy6237

Hi, whenever I am trying to convert currency, IBKR says “FX conversion is not allowed” Would you have any idea why this might be? I am using IBKR pro in the UK
Comment from : @theanuraagjayn

Would you recommend this over using Norbert’s gambit to convert?
Comment from : @milkbag13

Good one Sometimes we stuck at these small things and their settings You are genuinely contributing to the community
Comment from : @ravimukesh8132

Hi Bassem Thanks the information Is the a minimum needed to be in an interactive account for them to permit you to do options trading? Or is there a specific account the do options? Thanks
Comment from : @beautifulworldindeed5433