Withdrawing Funds From IB

[fillyerboots]

I need to withdraw some funds from IB. My base is GBP and I have $ profits also. The amount I need to withdraw will wipe out my GBP balance and eat into the $ amount. How do I convert the $ funds to GBP?

 

[oatman]

IB have a forex contract. Go to Products & Exchanges IB FX.

 

[neil]

I need to withdraw some funds from IB. My base is GBP and I have $ profits also. The amount I need to withdraw will wipe out my GBP balance and eat into the $ amount. How do I convert the $ funds to GBP?

http://www.interactivebrokers.co.uk/

then phone ( Under EUROPE ) 00800-IB-BROKER or
00800-42-276537*

Someone will hold your hand through a forex trade, but tell him what you want to do ie. remove some profit or to close the account.

Anyway, thats what I did to take out my first months profit.

 

[Trader333]

FYB,

Do the following:

In TWS enter "USD" in the "Underlying" column then select "Cash" then select "GBP" and it should appear as the below screenshot.

Then click on "Order" and select "Sell" when another window will pop up as shown in the second screenshot. I have highlighted in red the sections that need to be as shown with the exception of the quantity which will be your choice of how many USD you want to sell. Then just hit transmit and a few moments later it should be complete.


Paul

 

[Trader333]

Second Screenshot:

 

[oatman]

And if you get your request in before 12noon(US) it should hit your bank next day :cheesy:

 

[fillyerboots]

Ah ha!

Thanks Everybody!

 

[ColinM]

What is the easiest/cheapest way to withdraw funds to a UK bank account if the BASE is in GBP.

Colin

 

[bulldozer]

IB RULES STINKS!! IF YOUR A CLIENT PLZ READ THE RULES CAREFULLY AND IF YOU NEED HELP SPEAK TO AN XPERT, FSA, LIFFE, UK BROKERS,etc

Hopefully soon i will have a new w-site running [still working on it at the moment not quite ready yet]
This site will be able to show how you can do better than IB. Cheap commissions can become VERY expensive sooner or latter. Click below

http://www.elitetrader.com/vb/showt...?threadid=51251


IB rules and traders comments are found here:
http://www.trade2win.com/boards/showthread.php?t=15743&page=1&pp=10

Bull

 

[Trader333]

Your first link doesnt work.


Paul