Hello, I have set it up years ago. From what I have recall it was a CH IBAN and I am doing a local money transfer.
I vaguely remember a while back they had a GB IBAN (but you could do a domestic wire).
Edit: misremembered, iirc someone had reverse engineered the CH IBAN, you prob need a CH IBAN for six wires.
Hallo,
ich bin neu hier im Forum.
Wenn man in der Schweiz wohnt und ein Konto bei Interactive Brokers hat, wird einem dann bei Interactive Brokers die Stempelsteuer abgezogen?
Falls bei Interactive Brokers keine Stempelsteuer abgezogen wird, warum wird diese nicht abgezogen?
Canât tell if trollingâŠ
A quick googling will lead you to eg Stempelabgaben (STA)
The stamp duty only applies to swiss brokers, ibkr isnât a swiss broker.
Trolling, no doubt 
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After few min searching I found no answer to my question and sorry tldr.
I had some cash in CHF sitting around in IB. I bought some SPCX for fun. Ok, so my question: I bought firstly USD in my Cash account (and I suppose trading account) then few hours later the stock. My base currency is CHF. I saw the sufficient USD balance, but IB bought firstly CHF then USD again.
What did I do wrong? How can I see if my own FX transaction was settled? Somehow I donât see it (where e.g. in Saxo you see ânot bookedâ amount). Or was the whole issue because of the base currency? How can I avoid the stupid usd-chf-usd conversion?
I think the options are:
- Only ever use auto-conversion, not manual currency conversion, for stock purchases
- Perform the manual currency conversion on the day before the stock purchase (due to the T+1 / T+2 difference): I think thatâs sufficient but Iâm not completely sure as I donât have a cash account. I wouldnât really recommend this, though.
- Wait for currency conversion to switch to T+1 in Europe in October 2027
- Switch to a margin account
While IBKR lists how much total cash is settled, I donât know how you can check that per currency.
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Cf : IBKR Automatic vs Manual Currency Conversion - Fees and Settlement Considerations
Tips (for lazy people) : IBKR Currency Conversion Calculator: Auto vs Manual FX
From @_MP : https://www.mustachianpost.com/interactive-brokers-currency-conversion-notification/
Summary : under CHF 6500, let AutoFX convert to USD. Above, do it manually.
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I wouldnât recommend manual conversion with cash accounts when buying stock in the US due to the settlement issue. Daily currency+stock fluctuations are quickly higher than the tiny savings (and itâs annoying having to split the purchase across two days).
I.e., the summary makes sense to me only when trading in Europe, not when trading in the US.
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Yes, thatâs it. Many thanks. So for orders under 6.5k just leave everything in CHF. Happy days.
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I see settled cash per currency in âCash Reportâ section of an activity report. I have set up to receive (customized) activity reports daily by email.
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With IB I feel like a child again. Thereâs so much limitation and they guard you from everything, like âYou cannot buy crypto because you would exceed the 30% max over your portfolioâ or âYou cannot trade options anymore⊠your permission is revokedâ blabla. I remember I had permissions for everything. Donât know if these are UK laws or what. And the BTC buy order would execute tomorrow⊠why?
But this is ridiculous⊠I mean couple hundred bucks and they wont let you do what you want with your money. I moved 100x larger BTC amounts without permissions and in IB your responsibility is taken away. I just wanted to play around, but honestly, after few days I really have little trust left?
Whatâs your point of view - I know you guys love IB? Or is IB less bossy with you guys with larger portfolios?
I suppose Iâll leave IB just for the few US stocks I want.
PS. This morning I got notification from IB that my deposits from Friday morning are available for trading. I suppose this is sufficient to view the cash as settled. I wondered because is Saturday. The cash report (thanks Dr. PI) (as of yesterday, because for the date you cannot choose today) shows the amount as settled.
When I opened my account, you had to set your trading permissions and check some boxes to confirm that you have experience.
A few years ago, I had to re-confirm some of them and answer a short quiz.
Not sure if thatâs a requirement due to regulation directly, or some pre-emptive measure from IB. For every pro like you being mildly inconvenienced by that, thereâs probably 3 novices that lose their money on stuff they donât understand, and then complain about the broker not protecting them from themselves sufficiently.
But anyway, in >10 years I had to do those quizzes once and basically forgot about them until now. I do get a short warning if a trade exceeds 100k, 5 option contracts or I miss live market data, but those limits could probably be configured somewhere and protect you from mistake.
And of course there are margin requirements for leveraged stuff.
Is it that different at any other reputable and regulated broker?
As Jay said, you wonât have any settlement delays with a margin account.
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Havenât felt that with Saxo, though only having some Swiss shares and havenât tried to buy bitcoin. And as far I can remember never had such thing with Swissquote (but deleted account few years back⊠any different today). I just feel uneasy with such a control over me. (wft: â24h cooling periodâ??). Luckily, I donât have to deal that much with tradfi⊠Iâd go crazy.
It wouldnât work for what I intend to do. Every month a smaller amount into 3-4 shares. Fractional shares only available with Cash account.
Ah you mean after adding a permission âfirstâ time?
As in: You have only trading permissions for equity and bonds, then you (or someone else) adds some obscure derivatives, and they wonât let you go crazy right away but only the next day?
Right, forgot about that, too. Itâs a one-time restrictions, though and reasonably well intended, in my opinion. Comparable to âresponsible gamblingâ regulations 
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Thatâs why I said reputable.
(just kidding)
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