I’m with interactive brokers, my account is in $USD
I’m retired, so IB will only give me a cash account. No problems. As @rcw1 points out, the bank loan may be the best option. However, I’d like to question as to why you want the account in USD.
I have an IB account, and trade only US based futures, mainly the more liquid contracts on Globex. My account is in AUD.
If USD is required for mark to market, IB automatically transfers from AUD to USD. It was the same when I was trading US ETFs. If I bought a US ETF, and there was insufficient USD, then IB would automatically transfer from AUD to USD to cover the purchase.
If you don’t like the idea of auto transfer, you have the option to manually transfer from AUD to USD as needed.
Now, back to my original question. The reason I keep the account in AUD is that it makes it really simple for tax purposes. In theory, under Australian tax law, each trade (if you are a trader) is to be reported in AUD. So, if your statements are in USD that raises all sorts of problems. You need to keep all records yourself, on a daily basis, instead of relying on IB’s statements.
It is simply much easier reporting wise to have the account, and all statements, in AUD. Just let IB manage the currencies.
KH
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