•2 years
What currency is used in Interactive Brokers?
I opened an account with Interactive Brokers with the intention of buying shares of American companies. In order to fund the deposit, I have a choice of currency (PLN, EUR, USD,..) - which one would be most beneficial to choose?
I opened an account with Interactive Brokers with the intention of buying shares of American companies. In order to fund the deposit, I have a choice of currency (PLN, EUR, USD,..) - which one would be most beneficial to choose?
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"If you are planning to mainly invest in American stocks, it is usually best to choose the US dollar (USD) as the base currency. Why? Here are a few reasons: - Avoid currency exchange costs: By investing in American stocks and holding funds in dollars, you will avoid the costs associated with currency conversion when buying and selling stocks. - Easier access to the American market: Having an account in USD makes it easier to access the American market, as the majority of stocks listed on American exchanges are priced in dollars."
"If you are planning to mainly invest in American stocks, it is usually best to choose the US dollar (USD) as the base currency. Why? Here are a few reasons: - Avoid currency exchange costs: By investing in American stocks and holding funds in dollars, you will avoid the costs associated with currency conversion when buying and selling stocks. - Easier access to the American market: Having an account in USD makes it easier to access the American market, as the majority of stocks listed on American exchanges are priced in dollars."
Machine translated
"If your goal is to buy shares of American companies, the most advantageous currency to choose is the US dollar (USD). If you choose a currency other than USD, a currency conversion will be carried out, which may incur additional costs in terms of commission and spread. Funding your account in USD will allow you to directly invest in American stocks, eliminating the need to incur currency costs associated with converting PLN or EUR to USD. Furthermore, by using USD, you avoid the risk of currency exchange rate fluctuations, which can affect the value of your deposit in other currencies. If you do not yet have a USD account, it is worth considering opening a USD currency account at your bank or using the services of online currency exchange offices that offer conversion at favorable rates. This way, you will be able to fund your account in USD without the need to use Interactive Brokers' currency conversion services, potentially reducing your costs. In summary, by choosing the US dollar (USD) as the currency to fund your deposit with Interactive Brokers, you will minimize the costs associated with currency conversion and avoid the risk of currency exchange rate fluctuations."
"If your goal is to buy shares of American companies, the most advantageous currency to choose is the US dollar (USD). If you choose a currency other than USD, a currency conversion will be carried out, which may incur additional costs in terms of commission and spread. Funding your account in USD will allow you to directly invest in American stocks, eliminating the need to incur currency costs associated with converting PLN or EUR to USD. Furthermore, by using USD, you avoid the risk of currency exchange rate fluctuations, which can affect the value of your deposit in other currencies. If you do not yet have a USD account, it is worth considering opening a USD currency account at your bank or using the services of online currency exchange offices that offer conversion at favorable rates. This way, you will be able to fund your account in USD without the need to use Interactive Brokers' currency conversion services, potentially reducing your costs. In summary, by choosing the US dollar (USD) as the currency to fund your deposit with Interactive Brokers, you will minimize the costs associated with currency conversion and avoid the risk of currency exchange rate fluctuations."
Machine translated
"You should invest in the currency of the market you are trading in. This way, you only have risk for the traded instrument. When choosing a different currency, you increase the risk due to the fluctuating exchange rate of the chosen currency pair. It may happen that you make a profit on the traded instrument, but overall, you generate a loss."
"You should invest in the currency of the market you are trading in. This way, you only have risk for the traded instrument. When choosing a different currency, you increase the risk due to the fluctuating exchange rate of the chosen currency pair. It may happen that you make a profit on the traded instrument, but overall, you generate a loss."
Machine translated