IBKR mistakenly shows a nonexistent FX position for many days

blueraincap

blueraincap

I did trade USDJPY a little but I always closed quickly and I know I do not have any existing FX positions. The cash positions are correct, showing I have about 400k JPY debit and 250k USD credit, which contradicts the erroneous FX position (if I shorted 170k USDJPY, JPY cash value would be a lot higher).

I initially thought it would go away in a day but it has been there for 3-4 days and I now doubt if I might be charged for the carry? Any experience with such error?

IBKR.png
 
blueraincap said:
I did trade USDJPY a little but I always closed quickly and I know I do not have any existing FX positions. The cash positions are correct, showing I have about 400k JPY debit and 250k USD credit, which contradicts the erroneous FX position (if I shorted 170k USDJPY, JPY cash value would be a lot higher).

I initially thought it would go away in a day but it has been there for 3-4 days and I now doubt if I might be charged for the carry? Any experience with such error?

IBKR.png
More...
%%
IF it was me i would want to ask them, IBKR chat;
SCHW asks to be notified with 10 days[ of monthly statement]
IF i had to i would ask them on public FB, not with all the specifics, but general.:caution:
 
blueraincap said:
I did trade USDJPY a little but I always closed quickly and I know I do not have any existing FX positions. The cash positions are correct, showing I have about 400k JPY debit and 250k USD credit, which contradicts the erroneous FX position (if I shorted 170k USDJPY, JPY cash value would be a lot higher).

I initially thought it would go away in a day but it has been there for 3-4 days and I now doubt if I might be charged for the carry? Any experience with such error?

IBKR.png
More...

IB has a great Q&A section on their website.
https://ibkr.info/article/830

ib.png
 
The cash positions don't reflect open positions alone, they reflect past deposits/withdrawals, past closed position pnl. Perhaps you had other exposure before so that the new net cash position is as you have shown?

blueraincap said:
I did trade USDJPY a little but I always closed quickly and I know I do not have any existing FX positions. The cash positions are correct, showing I have about 400k JPY debit and 250k USD credit, which contradicts the erroneous FX position (if I shorted 170k USDJPY, JPY cash value would be a lot higher).

I initially thought it would go away in a day but it has been there for 3-4 days and I now doubt if I might be charged for the carry? Any experience with such error?

IBKR.png
More...
 
blueraincap said:
I did trade USDJPY a little but I always closed quickly and I know I do not have any existing FX positions. The cash positions are correct, showing I have about 400k JPY debit and 250k USD credit, which contradicts the erroneous FX position (if I shorted 170k USDJPY, JPY cash value would be a lot higher).

I initially thought it would go away in a day but it has been there for 3-4 days and I now doubt if I might be charged for the carry? Any experience with such error?

IBKR.png
More...
The upper portion of the screen shot shows the "Real FX Balance". The lower section shows the "Virtual FX Position". You need to pay attention to your real positions, not to your virtual positions.
 
Obviously, you have a USD.JPY virtual FX position. A virtual FX position is just an OTC FX swap between your portfolio and IBKR where the implicit forward rate bears a high 8%/9% margin. Virtual FX positions occur when you select IDEALPRO when you trade FX. It is ok for day trading but not for long term trading.
If you want to avoid this high margin present in the virtual FX position:
Close your virtual FX position
Trade FX by selecting FXCONV to get the FX cash you want.
Trade FX futures to hedge your forward FX risk
 
M.W. said:
He has multiple options positions, the 11k is hopefully just a delta hedge.
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Let's see (just taking the numbers out of the pic):

11k stock at 45, short 350 calls 41, short 100 puts 39, let's say delta of 41 is 0.15 and 39 is 0.08. So delta on calls is -30k, on puts negligible (1k) so indeed the shares are at least fully protected!
 
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