IB Trades statement P&L in account currency not clear! | Reviews of Brokers and Data Feeds


futures.io - futures trading strategies, market news, trading charts and platforms


Reviews of Brokers and Data Feeds


Review and discuss futures brokers, their requirements and features, or ask questions about brokers and data feeds




 

IB Trades statement P&L in account currency not clear!

  #3 (permalink)

Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,410 since Sep 2010
Thanks: 2,341 given, 3,560 received



danjuma View Post
Hello all. I am trading Forex (paper-trading) with IB, and my account is in USD. One issue I encounter is the lack of clarity as to my P&L. If I close say a trade on AUDNZD, my P&L is shown in some 'weird' amount other than USD, and it's quite confusing to work out my actual P&L in relation to my account balance etc. IB seems to derive pleasure in making things arduous and complicated than they should be! Why they can't just show your P&L in your account's currency like everyone else is anyone's guess.

My question is does anyone know of a free program that can download my statement and display it in a clear and easily comprehensible way and with all my trades P&L displayed as USD? Many thanks

You are trading in a cross currency, so your P&L would show in AUD or NZD. I assume in NZD, because its the second currency.
For that matter, your P&L would be converted upon request I assume, if it was a real account.
If you look at the rate of NZD to USD, you should know roughly your P&L.

Again, there could be a customer with a GBP deposit, never the less, the P&L is shown the currency traded.

I hope this helps.
Matt
Optimus Futures

There is a risk of loss in futures and forex trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; October 11th, 2015 at 01:16 AM.
Reply With Quote
The following user says Thank You to mattz for this post: