FX Portfolio - Virtual FX Position
Instructions
This section is designed to show activity for currency pair trades for FX traders so that they can track average cost and running P&L on their currency trades. However the "Position" value may reflect the sum of trades executed in the FX market along with currency conversions to change non-base funds into your base currency.
Note: Consequently these “virtual” positions do not necessarily reflect an actual cash balance in any currency.
To View Virtual FX Postions
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On the Account Window screen expand the FX Portfolio - Virtual FX Position section using the green plus (+) sign.
For actual, real-time currency balance, check the Total Cash field of the Market Value section.
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To avoid having currency conversions reflected in this panel, use the FXCONV destination on the order line.
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When the FX Portfolio panel is displayed, currency positions will also be displayed in the trading window. To remove currency positions from display, condense the FX Portfolio panel by clicking the arrow to the left of the panel title.
TWS FX Dual Presentation
In TWS, IBKR presents currency/FX position data in two different areas of the account window. We separate out your actual currency values, which may result from FX trades, conversions, or trading products in another currency, from your direct FX pair trading activity.
Market Value - Real FX Balances
Your account’s actual currency balances are shown in the Market Value – Real FX Balances section of the account window.
FX Portfolio - Virtual FX Position
The FX Portfolio section displays your FX trading activity in currency pairs that is helpful for FX Traders as it allows tracking of a running P&L and average cost. But, it may also reflect “indirect” FX currency conversions designed to close out a non-base currency balance. This view MAY NOT reflect your actual cash balance in any currency. To manage actual currency positions, refer to the Market Value - Real FX Balances section of the account window.
Automated FX Transaction Decision
When you submit an FX order, TWS will attempt to identify whether you want an FX pair trade or a currency conversion, based on your positions and balances, and will ask you how you want the currency trade to be considered. If you elect “Currency Conversion,” TWS will create the order to reflect this objective. You submit the order manually, and when the order fills your virtual position in the FX Portfolio section will not be affected. Previously, conversions would affect the virtual position and your only option was to manually adjust the position and cost to negate the completed conversion.
If you prefer to let TWS make this determination without displaying the confirmation box, check Let TWS make this determination automatically in the future at the bottom of the confirmation box. When you activate this feature, FX trades will display FXCONV as the Destination. You can change the destination on a per-order basis by selecting IDEALPRO. To enable the message again, activate it from the Messages section of Global Configuration. Note that the order will not be transmitted automatically.
Watch a short video that explains our dual FX display.