Houston TX
Legendary Market Wizard
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,384
Thanks Received: 10,206
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IB doesn't have FX Swap Rates for specific pairs. They are a multi-currency, multi-asset, trading account. The pay interest on all cash deposits and charge margin on all cash deficits. The effect is the same as FX Swap Rates, it's just quoted and processed in a different way.
If you Buy USD and Sell AUD, they will pay you interest on your USD deposit (currently 0%) and charge you margin on your AUD deficit (currently 1% or more depending on account size and type).
If you Buy AUD and Sell USD, it's the same. 0% interest on your AUD deposit and 1% or more margin on your USD deficit
So either way they charge you 1% - great business to be in.
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