Interactive Brokers for dummies

Something I could not figure out yet about FX conversion:

Is it possible to attach a limit order to a currency conversion?
As in an FX trade order?
Like in, I want to convert 10000 CHF to EUR as soon as the EUR:CHF rate is 1.10?

Given that it’s an FX broker (not just conversion), of course you can do any kind of order.

Just as a side note, if you are living in Switzerland, you can’t open an account with IB US.

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As a citizen? :flushed:

Not even if you live in the U.S.?

You are right, citizen was the wrong word. I adjusted my post.

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Right so you would automatically be redirected to a UK opening process of located in Switzerland

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I would say so… but how?

Well well, how easy can it be… many thanks!

Does anyone know how much time it takes until dividends become available for trading on IB? IB tells me I got dividends from VT, but there’s no cash available yet.

VT dividend payable date is 24/06, so you couldn’t have gotten them yet. As soon as proceeds hit your account on payable date, they are available for trading

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It is written in Activity report, section Dividends.

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Thanks guys! Hope some day I’m going to be able to live off my dividends :grin:

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That’s a long way ahead, but I’ll get there eventually😅

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That’s exactly the reason why I’m not convinced that reaching FIRE with ETFs alone is the right way to go. VT hasn’t returned 2.5% in the last two years, if I remember correctly. Also, it’s not only the WHT which is deducted, but you need to consider AHV as well. To be able to live from dividends alone, we’re talking more like 4-5M. Unless your investment horizon is 20+ years, that’s not easy to reach even on a good salary (thinking 120k+, not talking about the Google guys earning here).

And yes, I know that you don’t have to only live from dividends, but can also sell some stocks. Still, it’s rather “don’t die poor” than “enjoying financial independence”

I never said that 60k per year is poor :slightly_smiling_face:

That’s your very own personal experience. Yes, it is doable, but I also think that 60k per year for a family is a bit borderline. Of course, that’s my very personal take on it.

Please remember that restrictions of the Trinity study: the main idea was to not run out of money, so even 1$ left after 30 years was a success. Not sure if you would be happy to have 1$ left at age 60 if you retired at age 30.

I just searched for Trinity study, and it seems that your fellow member @anon95353169 has a very good SEO algorith. He’s the first hit, even though his article was just published one month ago. Congrats on the top ranking! Are you offering SEO courses? :wink:

I only briefly read through the blog post, but it looks great!

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Haha :stuck_out_tongue:

The article is actually several years old but was improved recently. Given that most of my articles are getting close to zero traffic, I would not attend my own SEO course :wink:

But thanks for the kind words :slight_smile:

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There’s little point in dying rich. Unless you want to do it for your children, so they don’t ever have to work or something. But then, you still don‘t get to control their spending after you’re dead. They might just as well blow it on cars, drugs, hookers - or an investment scam.

With even just one million, you can live and spend 50‘000 a year for 20 years - with no interest or capital gains whatsoever.

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Just the question: what are you going to do after the 20 years have passed? E.g. retiring at 30 and running out of money at 50. I guess the main problem is that we don’t know our own longevity.
But you are right indeed: you can spend 50k per year for 20 years. It’s an interesting thought.

Dear all,

I would like to implement a DCA strategy with a recurring ETFs investment in IB.

I know most of the member in this community follow similar approach and I am interesting to know how you execute that strategy in IB.

So far I set up some orders at the end of each month however the market price always have some kind of impact in my decisions.

From what I understood it is not possible to set up recurring orders in IB, therefore do you just choose a day and time, you go into the platform and buy some stocks when market is open with not even looking at the price?

Many thanks in advance for your comments,

Hi @CHRad ,

Thank you for the reply, I will do as you suggest.

Cheers,