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