That makes sense.

Anyway now I understand Debit Card is handy while you do not have to make any transfers to your local bank until you can spend your huge trading profits

BTW before to waste time.. What is the % applied for the currency fee exchange ? Example account denominated in $ and purchase done in Euro?

I assume this works with the actual given currency pair (IB) at the moment you make a transfer.
Same as withdrawing. It is from your IB account - currency is automatic fixed at a transaction moment.
Extra charges should not being applied as it is money from YOUR account - and no CREDIT card nor
credit card company involved.

GFIs1

I think this is not really true.

1) the card has a base currency denominated (likely here in this case US$

2) if you pay (withdraw or POS payment) in another currency, the mastercard network
will automatically apply currency conversion (rough at the moment of the transaction
autothorization), exactly at the moment of settlement

3) in rare occasions it can be dynamic currency conversion, (which is a legal rip-off)
and the transaction is denominated for example in EU at the point of sale of ATM and
then again converted to US$.

So what is not possible : you have a debit card, when you pay in US$ it goes from you
US$ in IB, when you pay in EU, it goes off your EU account in IB, that is not possible.

It appears to be a standard debit card arrangement.

This is from the FAQ section:

What happens if I charge something overseas in a non-US currency?

Mastercard converts the currency to US dollars and this is how it appears on your statement.

To convert your transaction's currency to your card's currency, see the Mastercard® Currency Conversion Calculator

The fee schedule confirms that there are no currency conversion fees.

Sounds logical.

But you can bet they will get their conversion fees by wiiiiiiiiiiiiiide spreads

They will definitely get you on the spread.

Here is Aus we are used to paying wide spreads with currency conversion on top.

If you have a IB account you can at the same time
• BUY a Future at Eurex
and
• SELL a stock at NYSE

The first is done in €, the other in $ ON the SAME account
means transferred at time of trade with the thin spreads you get
when you trade currency pairs.

Thus if you debit your card you get the pair needed to the pair to the socond
instead of a day currency pair offered from your BANK with wide spreads PLUS fees

As I interpret the IB intent - they want to have more liquid currency trades - not interested in complicated
calculations with in house spreads and in house fees.

So they let you profit from that direct transactions (Eurex included) on your positive account by using
their debit card to make transactions anytime without big fees and best overview on your IB account.
Only volume counts

GFIs1

@GFIs1 can you explain what this means in Lamens terms to a simpleton like me? Will this card enable a person to bypass all the bank fees and spreads?