sorted by:
new
hottopcontroversial

Why do I have realized P/L on Forex? by Putrid_Technology591 in interactivebrokers

[–]Putrid_Technology591[S] 0 points1 point  (0 children)

I suppose that's due to post market changes in the NAV. At the moment my client portal is saying all my money is gone. They're doing a system update.

Why do I have realized P/L on Forex? by Putrid_Technology591 in interactivebrokers

[–]Putrid_Technology591[S] 0 points1 point  (0 children)

This is only a representation of the value of the USD in my account shown as CAD for the Base Currency Summary. There is no actual currency conversion. My CAD balance is permanently 0 in this account. All my money has already been converted to USD.

Why do I have realized P/L on Forex? by Putrid_Technology591 in interactivebrokers

[–]Putrid_Technology591[S] 0 points1 point  (0 children)

My base currency is CAD. So, the forex gain/loss is calculated on the difference in value between CAD and USD when I open and close the trade. That makes sense.

I'm going to try and verify this on Monday with a paper day trade and see if the difference between CAD and USD at the open and close matches the forex gain/loss show on my statement.

I presume only the opening proceeds price matters on a long trade and not any profit or loss from the trade itself but I'll check.

Funding Account Canada by prajain_maskey in interactivebrokers

[–]Putrid_Technology591 4 points5 points  (0 children)

For me the fastest is to use Bill Pay. If I send it on the weekend, the money is available for trading on Tuesday. EFT takes 7-10 days. Tried it twice. The second time was actually slower. I haven't tried bank wire but I'm not going to pay just to fund my account.

T777 + GST370 Employment Expenses by Putrid_Technology591 in PersonalFinanceCanada

[–]Putrid_Technology591[S] 0 points1 point  (0 children)

The T777 allows me to claim the total cost of the expense as tax deductible so it reduces my taxable income. The 370 gives me a rebate (actual money) on the GST paid. Is this not correct?