# Closing position on a currency bought **URL:** \ **Category:** Investing / Funding & Currency conversions\ **Created:** [February 8, 2019, 4:20pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840 "2019-02-08T16:20:34Z")\ **Posts on this page:** 12\ **Page:** 1
**Author:** ![Azrael](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/a/f6c823/32.png) [@Azrael](https://forum.mustachianpost.com/u/Azrael)\ **Post date:** [February 8, 2019, 4:20pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/1 "2019-02-08T16:20:34Z")
Hey everyone, I’ve bought ETFs a couple of times by converting the CHF I funded my account with into USD. I bought USD.CHF on forex (i think). Everything seems fine, but now if I look in my IBKR portfolio I see the VT I bought, the CHF I still have and USD.CHF. Next to the USD.CHF I see the “POSITION” column with the sum I converted. If I click through I have the option to “close position”. What does this mean? PS. I’m using the android app of IBKR PPS. Does anyone have any tutorial (either text or video) where these notions are explained? Such as P&L or Open/Closed positions. There are many things I don’t understand in the interface and that makes me a bit scared considering I’m moving money in there. Thanks! ---
**Author:** ![oozoo](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/oozoo/32/1634_2.png) [@oozoo](https://forum.mustachianpost.com/u/oozoo)\ **Post date:** [February 8, 2019, 5:22pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/2 "2019-02-08T17:22:06Z")
When buying ETFs, do not convert the currencies first, otherwise you will have a IDEALPRO forex position, which is annoying but not dramatic or bad in any way. Unfortunately I havent found out how to manage currencies in the app. I use Trader Workstation on the desktop to manage my currencies. I buy securities directly in the app (resulting in a negative USD balance) then once a month I go into TW -\> Account Window -\> Close all non base currencies and close my negative USD balance. ---
**Author:** ![oozoo](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/oozoo/32/1634_2.png) [@oozoo](https://forum.mustachianpost.com/u/oozoo)\ **Post date:** [February 8, 2019, 5:22pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/3 "2019-02-08T17:22:31Z")
See also this thread > [@Interactive Brokers for dummies](https://forum.mustachianpost.com/t/interactive-brokers-for-dummies/447/6): > > Now instead of SELL USD I made a BUY CHF order. Now I have 100’000 CHF cash and a CHFUSD position. So this position will stay there forever? If i keep sending CHF to IB and converting to USD, it will keep growing? If you are sure it does not generate any running costs, it is actually a nice informative thing. I can track how much of my growth/loss is due to currency fluctuations. If that’s the case, then I guess the guide from @_MP is a bit misguiding. And what is the difference between IDEALPR… ---
**Author:** ![Azrael](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/a/f6c823/32.png) [@Azrael](https://forum.mustachianpost.com/u/Azrael)\ **Post date:** [February 8, 2019, 5:51pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/4 "2019-02-08T17:51:38Z")
Okay, good to know it’s not a problem 🙂 was a tad worried about it I found a button in the Android app where o could hide the FX positions ---
**Author:** ![Azrael](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/a/f6c823/32.png) [@Azrael](https://forum.mustachianpost.com/u/Azrael)\ **Post date:** [February 8, 2019, 5:52pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/5 "2019-02-08T17:52:08Z")
About the terminology. Where did you learn about Positions, P&L and such stuff? ---
**Author:** ![Joey](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/f14d63/32.png) [@Joey](https://forum.mustachianpost.com/u/Joey)\ **Post date:** [February 8, 2019, 10:28pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/6 "2019-02-08T22:28:24Z")
> [@oozoo](#): > > I buy securities directly in the app (resulting in a negative USD balance) then once a month I go into TW -\> Account Window -\> Close all non base currencies and close my negative USD balance. This requires a margin account correct? If I only have a cash account I will have to buy USD? btw FXCONV seems to be gone from IB, I can only exchange via IDEALPRO? ---
**Author:** ![oozoo](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/oozoo/32/1634_2.png) [@oozoo](https://forum.mustachianpost.com/u/oozoo)\ **Post date:** [February 8, 2019, 10:39pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/7 "2019-02-08T22:39:03Z")
FXCONV is still available via the Account Window. Or at least this method does not open virtual currency positions. I have a margin account ---
**Author:** ![FIREstarter](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/f/b38774/32.png) [@FIREstarter](https://forum.mustachianpost.com/u/FIREstarter)\ **Post date:** [February 18, 2019, 5:17pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/8 "2019-02-18T17:17:55Z")
> [@oozoo](#): > > FXCONV is still available via the Account Window. Or at least this method does not open virtual currency positions. I’m having the same problems as Azreal, but with a cash account. I first sold 2000 CHF to convert to USD (USD.CHF), and later I bought USD with 8’000 CHF (CHF.USD). Now, I have 2k in USD.CHF, and -8k in CHF.USD. I used the money to buy VTI, VEA and VWO. I’m also worried about the -8k in CHF and 2k in USD, because I only have 4USD in cash and 17 CHF in cash left. All other USD were used to buy ETFs. As far as I understood, with the cash account it shouldn’t be possible to create negative balances. I don’t want to pay any interest because of this. The overall account amount is 10k, which is what I had transferred. Any ideas on this one? ---
**Author:** ![FIREstarter](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/f/b38774/32.png) [@FIREstarter](https://forum.mustachianpost.com/u/FIREstarter)\ **Post date:** [February 18, 2019, 5:28pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/9 "2019-02-18T17:28:21Z")
Sometimes reading before typing is the better choice… Seems that it’s just a virtual position, as explained in the link from oozoo. Did not yet find the button on how to get rid of those positions, but I’ll continue searching. ---
**Author:** ![weirded](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/weirded/32/14916_2.png) [@weirded](https://forum.mustachianpost.com/u/weirded)\ **Post date:** [February 18, 2019, 5:31pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/10 "2019-02-18T17:31:35Z")
Last time we discussed the topic it was only possible using the Java app. Don’t know if now it can also be done through the Web interface or the mobile app. ---
**Author:** ![FIREstarter](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/f/b38774/32.png) [@FIREstarter](https://forum.mustachianpost.com/u/FIREstarter)\ **Post date:** [February 18, 2019, 7:26pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/11 "2019-02-18T19:26:11Z")
Found the option in TWS. Seems it’s really only possible to adjust there. ---
**Author:** ![dbu](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/dbu/32/1552_2.png) [@dbu](https://forum.mustachianpost.com/u/dbu)\ **Post date:** [February 19, 2019, 1:23pm UTC](https://forum.mustachianpost.com/t/closing-position-on-a-currency-bought/1840/12 "2019-02-19T13:23:17Z")
You can also “hide” it in the mobile app; although it applies only to that view, doesn’t remove it entirely from the system. When looking at your Portfolio, tap the top 3-dot menu, and uncheck “Enable FX Portfolio”.