IB sent me this email yesterday. Anyone else received it?
Wondering if it might be phishing? If not, what does it say? (If yes, of course, wait for feedback.)
basically this:
Under the new policy, clients can have the necessary amount of cash in any IBKR-supported currency (e.g., a US stock trade can be executed versus a EUR cash balance), and IBKR will coordinate the necessary forex trade in the amount required to settle the trade on your behalf.
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I doubt it, I got it too.
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The automatic currency conversion required to settle your stock trade will be performed by IBKR using a conversion rate that is determined based on the prevailing foreign exchange market rates at the time of execution. However, please note that the conversion rate applied by IBKR may be adjusted from the standard market rate to account for any differences between the settlement cycle for your stock trade and the typical settlement cycle for that currency pair. This rate adjustment allows IBKR to manage the associated risk and costs.
The specific costs and charges applied by IBKR for these automatic currency conversion trades are transparently outlined on the Commission and Fees page of our website.
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We encourage you to review this information to understand the applicable rates and fees for your trades fully
I did a quick look and didnât find anything new.
Auto currency conversion costs 0.03% without a minimum, according to https://www.interactivebrokers.co.uk/en/pricing/commissions-spot-currencies.php?re=amer
Being able to buy foreign securities in CHF would be convenient. Unfortunately, it seems itâs only for cash accounts, not usable for margin accounts.
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Well, last month I changed chf to usd and tried to buy as I used to do but wasnât able anymore.
On that case this new feature would have helped I think.
Or would have generated a mess 
Somehow I see still minimum of 2 USD per order for Tier1 âŠ. Isnât this same price as in past ?
Thanks. Itâs clear now
So if I do manual FX CHFUSD I will pay max($2, volume*0.002%), but if opt for the automatic conversion I will pay volume*0.03% ? Is that right? It almost feels too good to be true.
Basically at ~6.500 CHF it will make sense to just opt for the automatic conversion?
The spread for spot conversion is not disclosed, so there could also be spread in manual conversation as well.
I read it as following
Manual conversion involves
- 0.20 BPS (with min 2 USD) commission
- market spread
Automatic conversion = 3 BPS spread
But I have to say I donât really understand completely
Need to try this out with my GF. But if she has a margin account (canât remember), it wont work right?
I might have to change the account to a cash account. Any downsides?
Couldnât find anything on reddit, except the same link to commissions page.
I would find this a very useful tool; it seems like most ETFs I end up buying are EUR-denominated (XETRA, EuronextâŠ) because they have the largest liquidity, the smallest spreads, and the trading avenues are cheaper than London and EBS.
What usually happens is that I have to convert to EUR and then wait til those are settled, which usually takes a day. This new option would be awesome. Still I would want to know the exact costs, whether FXCONV or IDEALPRO is being usedâŠ
I got that too, but it says after market close 18 April.
I read from it that manual FX conversion is no longer needed, that is great!
Especially if the fees are the same as they are with recurring investments, namely noughtâŠ
Does this facilitate recurring investments in any way?
I would say it simplifies investment in securities that are not traded in fractions and therefore not eligible for recurring investments. Like UPRO 
Recurring investments already work that way. It does facilitate â buy the dipâ or limit orders in general without having to convert in advance. So it adds more flexibility.
Just got an email from IBRK saying the above. Did others get it too? Surely there must be a mistake, because April 26 is TODAY!?
Nothing in my inbox from IBKR apart from the âAnnual Cost and Charges Statementâ.
I donât even know what is the âCarried Agreementâ and why it is important (also Google doesnât return much).