I haven’t had issues in either direction with PF (= swissquote), was even pretty quick.
True, but money has usually been transferred within a few hours to IBKR, so there shouldn’t be a huge effect.
From Swissquote directly to IBKR?
Then either solution is probably fine.
Won’t you have to wait for settlement?
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Hi everyone,
I have 40,000 CHF in my IBKR account and currently hold an open position of 30 shares of SMMCHA at 263.70 CHF. I converted the remaining amount (~32,050 CHF) into USD, which gave me 37,887.30 USD.
Based on this, I calculated that I could buy 332 shares of VT at 114 USD per share. After this purchase, I would have around 40 USD and 45 CHF left in my account.
- Total cost for VT shares in CHF: 37,848 USD converted to CHF is approximately 32,016.75 CHF.
- Total combined cost in CHF (including both VT and SMMCHA positions): 39,927.75 CHF.
However, when I tried to place the order for VT, I received a message stating: “40,250 CHF is needed for this order and pending order to process.”
Does this mean that IBKR is charging me approximately 323 CHF in fees for those trannsactions ? Or is there something else I might be missing that could be causing this message?
I‘m trying to buy 80% VT and 20% Home Bias with 40‘000 CHF.
Thanks for your help!
Do you use a limit order? (and is your USD settled?)
Yes on both Limit order. I converted the CHF in USD and i can see the USD in my portfolio.
But is it settled? (it takes 2 days to settle)
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In this case it should be not settled. Got the money today, converted it some hours ago. Where can i see it if its settled or not? I mean i had the option to buy now so it should be settled? And what difference does this make? Are you able to trade when it‘s not settled?
When i reducrd the amount to 228 Shares VT it went through. So (? It should be settled?) For the moment i cancelled.
I got a notifications 9hours ago from IBRK that the money is now available.
Update: I did the exact same trades again and now it went through. Now i also had the option to view the cost impact that i didn‘t had before (error). So i will see at 15:30 if everything was right. 
It’s been discussed many times, IB will revert your FX transaction and switch it to autoFX (which doesn’t have the settlement issue).
But even if this was the case, 40‘250 seems a bit too much to be asked for my trades which were about 39‘950.-.
Why don’t you just wait until US market is open to buy VT? Who knows how they calculate things outside of regular trading hours.
Alright, i‘ll try it that way, thank you. Even though it went through now i‘m canceling and i‘m buying after it opens. Makes sense.
Thanks for the fast responses!
Alright i just bought my assets. Weirdly it didn‘t use my USD to buy the assets. It converted it back to my base currency, converting it via FXCONV and buying then the asset. Is this because my Dollars which i got from „währung umrechnen“ was not settled yet?
And i could not buy 333 immediatly. I was forced to buy 330, then again 2 and then 1. Because when i typed in 333 balance was not enough, even though it was enough.
Now i have -290 CHF and +374 USD… i am confused…
Update: My „-290 CHF“ was corrected by IBKR by balancing my USD so the value equals 00.00 CHF.
Got 32 USD left. That is/was a weird first transaction on IBKR for me.
How do you guys buy US ETF? Do you convert or just „buy“ and it converts by itself? My SWISS ETF went through perfectly.
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Either wait until things are settled, use autofx, or a margin account.
See IBKR behaves weirdly when converting currency and immediately buying with a cash account
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Is there a way to see if the currency conversion has been settled? Or isn’t there, and you need to wait 2 days?
Isn’t it shown in Portofolio → Balances?
For the money that is not settled I think IBKR pushes to have minimum 100 USD left after transaction
If you will try the same transaction after trade is settled , it would only be a warning but order will go through
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I don’t know, have only used AutoFX so far, but plan on buying a larger position where manual FX would be cheaper.
I have a technical question
I would like to migrate my IBKR authentication key to my new mobile which also have new mobile number
First question -: I changed my mobile number on IBKR settings but the 2FA sms is still being sent to old mobile number. Does anyone know how to change the mobile number where sms is being sent ?
Second question -: is the migration of the IB key possible before the first question is resolved? Or it’s a sequence? I tried to migrate the key and it’s also not working