On Tue, Aug 10, 2021 at 03:51 PM, Francois G wrote:
You should also pay attention to the 'Base currency' set up in your account. If you trade US products, you MUST set the base currency to USD. Or else, you'll pay currency conversion fees at EACH trade.
There is a setting in TWS to automatically do a forex trade in case you buy/sell something in a currency other than your base currency. If you don't have this setting set then TWS/IB will not do any automatic forex trade and it is up to you to decide how to handle the non-base currency cash position. The default setting is that no automatic forex trade is submitted.
This automatism is not available in the API and you would need to program that yourself explicitly to have any such forex trade done.
The base currency setting is mainly useful for selecting how your monthly reports are sent to you, which currency is used in those reports.
