Interactive Brokers - Withdraw to Foreign Account? (Same Name)

CheapieChippie on 08/05/2020 - 20:57
Last edited 08/05/2020 - 21:23

Does anyone know if what is written on the interactive brokers website is correct regarding Australian users?

https://www.interactivebrokers.com.au/lib/cstools/faq/#/cont…

I heard if I buy US shares and subsequently sell, that I will be left with USD denominated in my account and this could be subsequently transferred to a US account in my name?

Ok, I found the link for it:
https://ibkr.info/node/722

Does it still create a margin loan and then I can do a fx transaction? Or can I not do the fx transaction anymore?

Has anyone been through the process? Does it still work?

Financial

Comments

  • [Deactivated] on 08/05/2020 - 21:20

    Not sure.what is your impression of the contents of the website?

  • bohn on 08/05/2020 - 22:50

    Clients maintaining a cash or margin account may change their base currency at any time in Account Management and may make deposits or withdrawals in a non-base currency.
    https://www.interactivebrokers.com.au/en/software/glossary/c…

    I have an account with them but never tried to withdraw somewher else.

  • redfox1200 on 09/05/2020 - 07:22

    yes you can withdraw to what ever account you have anywhere in the world if it's in your name, if you want usd, you can just buy usd forex as a cash conversion

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