Question about Forex using IB

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mooudn
Posts: 109
Joined: Sun Jan 05, 2020 9:28 am

Question about Forex using IB

Post by mooudn »

Hi all,
This is for those who are familiar with the TWS platform on IB. This is my first trade on IB using TWS and so I feel like I need a bit of hand holding.
I'm wanting to convert CAD 21,000 to USD. The current rate is 1.4. I wanted to attach a screenshot of the order entry, but couldnt figure out how

-is the 15k in the quantity section correct? or do I have to take into account the fee IB charges as well in this field? I also notice that it only let's you select a quantity to the closest $1000, so no fractions?

-Ive changed the destination from IDEALPRO to FXCONV. I pretty sure this is right, but want to double check.

Thanks
ICH
Posts: 244
Joined: Wed Jun 13, 2018 3:08 am

Re: Question about Forex using IB

Post by ICH »

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