Trading USD futures with AUD cash

[arruga]

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

 

[CanOz]

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.

 

[mjim]

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!

 

[Virge666]

Convert your base currency to USD!

This is what i did.

I have no issues switching between currencies.