How to change the base currency on IB?
As a general rule, once you set your base currency - or account currency - at any broker during account opening, you can’t change it later. However, that’s not the case with Interactive Brokers. When you go through the account opening process at IB, you must choose a base currency for your account like you would at any other broker, but you can change it later any time on your Client Portal.
On the Client Portal, head to the top-right corner of your screen. Click on your name, and in the drop-down menu, select ‘Account settings'. There you will find three text columns. Look for ‘Account reporting’ and then click ‘Base Currency’ just below it. A pop-up window will appear, displaying all available base currencies on the platform.
The available account base currencies at Interactive Brokers are the following:
|Australian Dollar||British Pound||Canadian Dollar||Chinese Yuan|
|Czech Koruna||Danish Krone||Euro||Hong Kong Dollar|
|Hungarian Forint||Indian Rupee (only in India)||Israeli Shekel||Japanese Yen|
|Mexican Peso||New Zealand Dollar||Norwegian Krone||Polish Zloty|
|Russian Ruble||Singapore Dollar||South African Rand||South Korean Won|
|Swedish Krona||Swiss Franc||US Dollar|
*This selection might differ based on which entity you're onboarded with.
Step by step: How to change the base currency on IB
The first occasion when you have to make a decision about your base currency will occur during the account opening process. But no worries, you can change the base currency of your account later at any time.
- Go to the Interactive Brokers website.
- Click the red ‘Log in’ button in the top right corner
- Go to the ‘Client Portal Login’, enter your name and password, then clear the two-factor authentication process
- On the 'Client Portal', click on your name in the top right corner
- Click the light blue 'Settings' button at the top
- On the 'Settings' page, look for 'Account Reporting' in the middle, then click 'Base currency' just below
- Here, use the drop-down menu to select the desired currency
Your new base currency will be live on the next trading day.
Interactive Brokers further reading:
- Interactive Brokers Review
- How to trade after hours on Interactive Brokers
- Why is Interactive Brokers so cheap?
- Can you buy Bitcoin on Interactive Brokers?
- How to use Interactive Brokers for Paper Trading
- How to withdraw funds from Interactive Brokers
- How to change trading permissions on Interactive Brokers?
- How to buy fractional shares on Interactive Brokers?
- How to convert currency on Interactive Brokers?
- What is the cost of buying US stocks at Interactive Brokers?
- Does Interactive Brokers offer ISA accounts?
- What is the Interactive Brokers debit card?
- Interactive Brokers fees explained
- Interactive Brokers Account Opening
- Is Interactive Brokers good for beginners?
- Is Interactive Brokers free?
- Can you trade options at Interactive Brokers?
- Interactive Brokers Minimum Deposit