IB CHARGING me interest to hold long-term stocks

Quote from Nasdaq5048:

U are getting charged interest is probably because u dont have enough USD for ur stock position. The net liquidation value includes all currencies converted to ur base currency. So the 9K means including CAD and CAD stocks.
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that net liquidation value I gave is just for the USD part of my account.
 
Quote from Daal:

I have some stocks there plus about $2,186 in cash(earning no interest, courtesy of IB's greedy hand). The thing is, as soon as I withdraw this $2K my accrued interest starts to go negative and it keeps running down till I pour the money back. Looking at my account statements I just cant figure out why would I even a single cent more than the money that was used to buy the stocks.
My total stock value is $7,246, net liquidation is $9,432, my leverage shows 0.79 I dont know what this means but I dont want any leverage. What should I do?
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What makes you think they're charging you interest? If you truly think they are, and you think it's incorrect, call customer service and ask about it. But my guess is you aren't being charged interest.

You evidently have a Universal account. The Universal account functions as a margin account. However, if you use less than your cash available to buy stock, you won't be charged interest. If you withdraw less than cash available, you won't be charged interest. I believe the leverage factor divided into the securities value equals equity.

OldTrader
 
Quote from Daal:

USD. I have some CAD and canadian stocks but I dont think they have anything to do with it.
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Do you have enough CAD so that you are not borrowing CAD?

In the account screen, uner Market Value, for all currencies, is there a value >= 0 in the Cash column?

It's hard to address this question w/o seeing the account details. You should contact customer service.
 
I was charged last month. my accrued interest was negative and growing without me doing anything except decresing my USD cash(it never went negative). I had to sell some EUR and CAD to refill the USD account in order to stop it. the customer serviced confirmed that saying it was because I bought more than I had in cash yet I have no idea how to figure out when you go above or below the limit.
My best guess is even though my cash was positive all month my 'settled' cash was negative, the panel does not show that and it is misleading
 
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