• Australian (ASX) Stock Market Forum

Trading USD futures with AUD cash

Discussion in 'Derivatives' started by arruga, Aug 18, 2016.

  1. arruga

    arruga Formerly known as 'amourgues'

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    Got a cash account (not margin account) in IB. Can't trade forex to convert AUD to USD (ASIC regulation)
    Can I trade USD futures backing them with AUD cash ?
    cheers
     
  2. CanOz

    CanOz Every day above ground is a stellar day!

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    Yes, you can still trade the CME FX futures or ICE in the case of the DX.
     
  3. mjim

    mjim Well-Known Member

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    I am in same situation, A/c balance with IB is in AUD
    Unfortunately IB stopped the instant conversion of FX that was possible ( Some issues with ASIC .. can't understand why somebody as big as IB does not get it's act sorted out with ASIC)
    I heard that that "conversion" was considered as "IB providing retail FX margin trading services to AUS clients!"

    But you can still trade instruments in other currency, I think IB will convert the margin money in to appropriate
    OR
    Convert your base currency to USD!
     
  4. Virge666

    Virge666 Well-Known Member

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    This is what i did.

    I have no issues switching between currencies.
     
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