ajPT
January 30, 2019, 2:21pm
61
Yes.
You can follow the steps bojack described here:
Alright, I’ll check it out for the next transfer. Thanks!
So the simple instruction for dummies of your first purchase at IB would be:
Transfer 10’000 CHF to IB using the CH IBAN (not GB)
Login to WebTrader, check that you have 10’000 CHF
Click on the Forex tab, enter CHF, look for the CHF.USD
Enter the amount 10’000 and choose the type SELL
You should now have 0 CHF and everything converted to USD
Go to Stocks tab and type in VT, select the type BUY
What I’m not so aware of: how safe it is…
If the base currency of your account is USD, you can follow the steps as described.
If it is in CHF, you need to “discount” the commission fee when converting, as I said here:
I managed to do it successfully the way @Bojack said and paid 1,97 CHF commission to convert my CHF to USD.
Basically I’ve put the full amount I wanted to convert and pressed “preview order” to check the commission. There, it said the commission will be 1,97 CHF for the amount I wanted to convert, so I modified my order to subtracted this commission (tbh, I subtracted 5 CHF to be on the safe side, but then 3 CHF stayed in my account).
This was the way I’ve found to not have negative CHF balan…
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