IB base currency

[scexglobal]

Quick question: is it possible to hold multiple base currencies as one would with a non-US bank in a univeral IB account?

Thank you.

 

[Tums]

n

 

[scexglobal]

Quote from Tums:

n

I take that as a no?

 

[Daal]

its possible to hold multiple currencies but not multiple base currencies

 

[Tums]

Quote from Daal:
its possible to hold multiple currencies but not multiple base currencies

any currency holding other than your BASE currency is treated as a loan.

 

[Daal]

Quote from Tums:

any currency holding other than your BASE currency is treated as a loan.

you can convert a USD balance to other currencies through IB IDEAL(not pro), that would not be a loan but real currency that earns interest(if above the no interest amount)

 

[scexglobal]

The reason I asked is as follows: I wanted to use IB as somewhat of an EU bank, but with electronic access and tighter spreads (and much better interest).

 

[Daal]

Quote from scexglobal:

The reason I asked is as follows: I wanted to use IB as somewhat of an EU bank, but with electronic access and tighter spreads (and much better interest).

I think you can do this. I do it to certain extend, the IB wire fees are much lower than in banks

 

[Sky123987]

Quote from Tums:

n

man was it that hard to add the extra 'o'