# Trading USD futures with AUD cash



## arruga (18 August 2016)

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


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## CanOz (18 August 2016)

arruga said:


> 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




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


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## mjim (18 August 2016)

arruga said:


> 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




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!


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## Virge666 (8 September 2016)

mjim said:


> Convert your base currency to USD!




This is what i did.

I have no issues switching between currencies.


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