I live in Ireland. Just stumbled across this forum while looking for an explanation for the topic in question.
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In that case, would be better to consult an Irish resource/forum 
Thank you, just wanted to make sure
Apologies, I just posted in the other thread but I see that the conversation has picked up again here… Can anyone explain what the “however” means in practice? Thank you!!
Is there an easy way to see the amount of “fully” settled cash available in each currency?
Fully in quotes because I’m not sure the technical word to use. When i convert to USD it instantly shows as settled USD cash even though I know it takes 2 days until the FX transaction is finalized
I haven’t found it displayed anywhere.
My workaround (for one currency) is to use the dialog for withdrawing cash; it shows two numbers, and the really settled cash is the amount available for withdrawal without margin loan (0.00 in my screenshot below, because I have cash waiting to be settled…). Then of course I abort the withdrawal.
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I had a super weird behaviour recently with autofx and market order. I moved 3k CHF to my ibkr account with the intention of buying some VT. I had about 50.- sitting there before.
At last week’s fx rate, that was worth about 3400$. VT was at 119.64$.
I calculated I could buy about 28.4 shares, so I went for 28 (I prefer not having partial shares). I used autofx and market order.
What happened is ibkr refused, saying I didn’t have enough funds. I was surprised and thought my math was wrong, so I tried 27 shares and it worked. Then I noticed my account still had about 200CHF cash, so I could indeed get a 28th share! I went back on the trading screen and bought a single VT share (autofx+market order) and… It worked!
How come I wasn’t able to directly buy 28 shares? Anyone has an idea? Unfortunately I didn’t copy the error shown when it happened…
I think you need to use limit order instead of market, then it knows you have the fund.
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Interesting thanks! Indeed previously I was only doing limit order, then after reading here and there that market orders were great, I tried it. So I’ll just go back to limit order then, takes a bit more time to complete, but at least they work well.
Sounds pretty dangerous, you can always do a limit order above the current ask if you want it to execute (but you limit your downside).
(Also with IB, doing a midpoint limit order is often better, you can even get a price improvement while often adding liquidity so getting a fee rebate from the exchange).
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Probably a safety mark up in order of 3-4% on the amount you wanted to trade.
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There’s an article on thepoorswiss about how market orders are fine. After reading it carefully I decided to give it a try, after all most of what I know about investment come from either there or here and so far it all went well.
I lost a couple peanuts but learned something, not that bad! Won’t do it again though.
its because while using AUTO FX, IBKR likes you to have 100 USD at the end left in cash account
If you want to really run down your cash balance, you need to first convert to USD, wait for currency to settle & then buy. In that case you can suppress the 100USD warning.
From my understanding thepoorswiss has referal links of the services that he uses himself. Neon is one of them, as are IB, Degiro, Finpension, … I didn’t see any futher indication that Neon goes beyond the other companies. So I don’t understand what you mean by sponsoring.
I think that’s the point of thepoorswiss. When you trade highly liquid funds and want to make your investment life as simple as possible, market orders are just fine.
I don’t have sponsors, but multiple partners and they play no role in choosing the articles I write 
I wrote this article because I myself use only market orders (never used another order in 5 years now). And I still believe that they are perfectly fine for anyone using only high volume ETFs.
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To which other solution do you compare them?
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After using the Auto FX buying VT on my cash account with base curreny CHF since it’s possible (March or so), I did not have a USD position any more. Yesterday, IBKR changed automatically from CHF to USD, but only to have 0.01 USD. Yesterday was also the ex-dividend date for VT. I only have VT, by the way, no other securities. Anyone experienced the same? Any idea, what the reason might be.
Is this new? and documented maybe somewhere?
I don’t know if it’s documented but I always get a warning when amount is less than 100 USD
I have never seen this warning and also got affected by these AutoFX conversions so I was trying to find a solution to avoid these and at the same time not need to wait 2 days for my CHF to USD conversion to settle. Next time I will try leaving >100 USD after buying some VT.