From Degiro to IB - some questions, like Base Currency

Investing / Brokers
1

Hi all,

I am finally comfortable enough to move from Degiro to IB (got burned bad with SaxoBank, so i just wanted something as cheap as possible…).

First feeling - incredibly professional! Such a big difference from Degiro :slight_smile:

But I am a bit confused about the Base Currency. I have chosen USD, knowing that I can just trade whatever i want after, with a very good exchange rate. This is a valid assumption, right ?

And also, check out this screenshot, after my initial 2 EUR transfer into a IB account with USD as Base currency.
I find it SO strange. What is up with the 2 USD displayed there, since I transferred 2 EUR ? What is the difference between values in the Balances section, and Market Value ? Is it safe to continue with USD as Base Currency and to transfer other currencies as well ?

image
image.png799×783 41.1 KB

Thanks!

2

Since USD is the base currency, I would say 2 USD is the rounded equivalent amount of 2 EUR (no cents).

3

Look a fellow Saxo victim XD.

Just make sure to keep enough base currency for the inactivity fees arround otherwise it will convert by itself (not that bad but kinda scary getting emails about executed trades I did not order)

4

Any particular reason why you are moving away from Degiro?

5

Indeed. I still find it Very peculiar, for a broker like IB. But maybe i’m just a noob. I did one other transfer, to see if its still rounding for larger amounts, as well.

6

The only reason to use Degiro it is the free ETF trades, one per month or so. The ONLY reason.
And lately, I find myself doing more than that, since I try to just buy when the market is very low, and it happens quite often (thanks Trump!).
So, looking at IB, comparing to Degiro and SaxoBank, it makes me remember how much I liked the detailed reports you can get, the feeling of a professional broker. About the $10 per month of fees, I’m just fine with it. I just canceled my Google PlayMusic account :slight_smile: