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Forex trading classes houston
Funding your account Withdrawals. You should be able to choose the USD. CAD currency pair in the drop-down:. Depending on how you funded your account, there may be a rather long hold period for your funds currently 3 business days for wire transfers and 60 business days for EFTs. I hope this information was helpful.
But just confused by what you mean when you say SELL your currency, when thats said i instantly think short. However your explanation in detail is not correct. You use the USD. When you want to do the conversion, you create a trade in QuickTrade or Web trader , you choose the symbol, the type of trade Buy or Sell and the order type Market, Limit, Stop etc.
If you choose Market as order type, the order is executed asap slippage probably not considered! If you want to try a better exchange rate, you choose Limit and you put a rate which is higher than the current one.
You need to try with the correct amount until the system is happy, depending on the current market rate or the rate you have chosen.
There will be an error message if your order cannot be executed. This is because the amount of USD you will achieve depends on the rate and commission. Also, the IB system is buggy, it will adapt the quantities automatically if an error is detected, but not always….
I place a Buy trade by choosing EUR. GBP and then I need to have a look at the current rate. I try with the maximum amount of EUR until the system is happy for example , , etc. After performing this transaction selling the USD.
CAD currency pair , it will continue to show in your account as an open position. Closing the position would essentially reverse your transaction convert CAD back to USD at the prevailing rate which is not something I would want to do.
They also said they can remove virtual positions from the portfolio view in Trader Workstation but not in Web Trader. Am I missing something? Yeah, that was the difference. I ended up asking my Canadian bank to perform a wire transfer to IB, which was expensive, but the rest of the process was the same.
Thank you so much. Been looking for such a post for 2 months. Now I know how to convert thru IB. When the small window appears, type the number zero into each field and click OK. The position will then disappear. Your email address will not be published. Funding your account Withdrawals 2 Converting Currencies 2. CAD currency pair in the drop-down: As the article says anyway, always use the preview function before placing the trade.
Sorry for the delay! Thanks for the article. Thanks for the instructions. Their Web UI is sooo complex! No orders need to be placed to accomplish this. Leave a Reply Cancel reply Your email address will not be published.