The base currency of my account is CHF and I sold the pair CHF.USD to get USD in my account. Should I have done it differently?
(probably doesn’t matter but the canonical pair is USD.CHF, tho I doubt that would make a difference)
if you have 10’000 CHF and you want to have 0 CHF, you cannot achieve this with USD.CHF. You have to sell CHF.USD…
Just a theory, but does not IB charge (some) fees in account currency? So if you had 0 CHF, then maybe it was not possible to charge the fees?
Indeed if you want to have exactly 0 chf and chf is your base currency sounds like the only way (but might be a bad idea to have no base currency).
If it’s not a base currency, if the balance is smaller than 5 USD or equivalent, it’s automatically converted.
Didn’t know that. My base currency is USD and I always looked to it, that I have 0 CHF left after the trade.
Currently I have 5 CHF left so any commission would be taken out of that amount (?).
The weird thing is that when I am trying to enter an order limit for, let’s say 3500 USD, it tells me that I would need 4420 USD to get it through. I don’t understand where that amount is coming from because I am selecting the USD amount I want to invest.
Do you usually choose the USD amount or select number of shares?
The dollar amount doesn’t seem to work properly without a margin account if you want to use up all the remaining money. For some reason it needs some bigger reserve than the money you actually want to use.
Yeah same thing here, I gave up on that. When I ask to buy say 10k of a share, it wants me to have 12k to cover the transaction… Not sure why, it makes no sense at all.
So I just do a buy order for a specific number of shares, with a limit of slightly above current price, and I always have some change left over. It’s USD though so no overnight negative interest on it.
AFAIK CHF negative interests starts only at 100’000 CHF cash, so should not be a big deal.
I had the same issue last month, fixed itself the next day or the day after.
Before then (10 or so times) I never had any issues, and I don’t think I did anything differently (always through the website)
Hope this month it goes nicely again and I only have to login once.