10 Tips & Tricks To Master Interactive Brokers

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Smart Money with Kai

Smart Money with Kai

Күн бұрын

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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions. This video, post & article should not be construed as investment advice. Capital at risk.
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⏰ TIMESTAMPS ⏰
00:00 Interactive Brokers Tips & Tricks Intro
00:42 Tip 1 - Depositing Money with Wise
03:04 Tip 2 - Change Your Base Currency
04:52 Tip 3 - Reduce Commissions Change Fixed To Tiered Pricing
06:47 Bonus - Change To Light Or Dark Mode
07:09 Tip 4 - Customise Your Portfolio
09:45 Tip 5 - Customise Charts
11:30 IBKR App
11:53 Global Trader App
12:28 Impact App
13:18 Tip 6 - Change Default Purchasing Parameters
15:08 Tip 7 - See Your Dividend Income
16:45 Tip 8 - Deep Dive Portfolio Analysis Report
18:06 Tip 9 - Find Stocks Easier & Enable Fractional Shares
21:16 Tip 10 - Enable Automated Investments
23:00 Interactive Brokers Conclusion
In this video, I am going to share with you my favorite tips and tricks to get the most out of the Interactive Brokers (IBKR) Web Portal and all Interactive Broker Apps.
It can be overwhelming at first when you start using it, but by implementing my tips & tricks you will definitely have a much better experience with the platform. Long-term, Interactive Brokers is probably one of the best Stock Brokers you can possibly use to build your investment portfolio, especially for non-US citizens.
One of the best new features is that you can now use your Wise account to deposit USD or other currencies almost instantly into your Interactive Brokers account, which is a game-changer.
Let me know in the comments if you have any other questions about Interactive Brokers or any of the IBKR Apps.
#interactivebrokers #stockbroker #ibkr

Пікірлер: 116
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
🔵 Open your Interactive Brokers account This is my personal broker of choice where I hold the majority of my investments smartmoneywithkai.com/ibkr 🟡 JOIN MY SMART MONEY CLUB www.smartmoneywithkai.com/smartmoneyclub
@leonardomcpugo
@leonardomcpugo 7 ай бұрын
Thanks Kai, I've just started in this world and it's overwhelming, but your videos are really helping me get through it.
@SmartMoneywithKai
@SmartMoneywithKai 7 ай бұрын
Hi Leonard, that's so nice to hear that🙏 Cheers
@TechWithAdil
@TechWithAdil 8 ай бұрын
One of the best video on Interactive Brokers, really helped me.
@SmartMoneywithKai
@SmartMoneywithKai 8 ай бұрын
Much appreciated and really means a lot, thanks🙏
@almadesaudade
@almadesaudade Ай бұрын
This is amazing video, I opened an IB account a few months ago and was completely lost but fortunately found your channel and it helped me navigate this intricate platform. Thanks Kai!, pura vida from Costa Rica!
@SmartMoneywithKai
@SmartMoneywithKai Ай бұрын
Hi 👋 Thank you for the kind words. I'm glad to hear my videos have helped you navigate your IB account. It's a complex platform, but once you get the hang of it, it can be incredibly powerful. Pura vida from Dubai 😉🙌 Cheers
@RokasMagic
@RokasMagic 3 ай бұрын
Thanks for sharing! Very good video :)
@SmartMoneywithKai
@SmartMoneywithKai 3 ай бұрын
Appreciate that my friend 🙌
@sean7932
@sean7932 6 ай бұрын
Thank you Kai.
@SmartMoneywithKai
@SmartMoneywithKai 6 ай бұрын
My pleasure Sean🙌
@kimberlysumnerwealth
@kimberlysumnerwealth 11 ай бұрын
Awesome, this is super helpful, thank you Kai for a really informative, clear and well presented video. Legend!
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
Oh wow, so nice of you Kimberly, means a lot, thanks🙏
@svanhoogstraten
@svanhoogstraten 6 ай бұрын
you do not have to change your base currency to convert from Eruos to USD. I used to think ih the same. I asked the question to IB and they said: "Base currency selection is completely independent from currency conversions, you do not have to change it to be able to convert currencies. Having a specified base currency serves primarily reporting purposes, so that all transactions on your account can be translated (reported) into one single currency."
@SmartMoneywithKai
@SmartMoneywithKai 6 ай бұрын
Hi there and thanks for your comment. It seems it depends which IB entity you are with. In Hungary at this stage it does not work, but soon, those will be merged with IB in Ireland and there I understand it will be easily possible to exchange without change base currency👌 Cheers
@zuberkhilji
@zuberkhilji 4 ай бұрын
Please Reply - in Interactive brokers it has the option GTC ( good till cancel) so is this as same as swing trading? Coz I want to start swing trading but confused which options to choose while buying a shares
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
Hey! Great question! 🚀 GTC, or 'Good Till Cancelled', is actually about how long your order stays active in the market. It means your order will stick around until you cancel it or it gets filled, no matter how many days it takes. Swing trading, on the other hand, is a style of trading where you hold onto your stocks for several days to capture gains from price moves. It's more about your strategy and how long you plan to hold a position rather than the type of order. So, when you're swing trading, you can definitely use GTC orders to make sure you don't miss your entry or exit points, but remember, the two aren't the same thing. Swing trading is your game plan; GTC is just one of the tools in your kit. Dive in, and happy trading! 💡💼 Cheers 👋
@zuberkhilji
@zuberkhilji 4 ай бұрын
@@SmartMoneywithKai thank you so much for detailed explanation, confusion is clear now. Really appreciate 🙏 and you are definitely one of the best trading youtuber I found
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
@@zuberkhilji My pleasure and appreciate your kind words 🙏
@anant0089
@anant0089 9 ай бұрын
cool video, Bro
@SmartMoneywithKai
@SmartMoneywithKai 9 ай бұрын
Thanks a lot mate🙌
@tomasnorsis6303
@tomasnorsis6303 9 ай бұрын
Hi,first of all love your videos very educational, trying to switch to interactive brokers. Can you advise me,what type of account to choose,for stocks only long term dividend portfolio?(between individual cash or isa,by the way i am new to this:) Your advice would be highly appreciated,thanks.
@SmartMoneywithKai
@SmartMoneywithKai 9 ай бұрын
Hi Tomas, many thanks and much appreciated. Seems you are based in the UK in this case ISA might make sense, as I understand it's tax advantaged, sorry not very familiar with UK taxation rules. Other then that, yes, cash account IBKR Pro, which you will anyways be assigned to and make sure to change pricing structure inside the settings from fixed to tiered, will be cheaper commission. The rest you just start dollar cost averaging into your desired positions over time👌 Good luck mate. Cheers
@Jose_Lima
@Jose_Lima 5 ай бұрын
At least for Swiss residents, I found that best option is using ACH transfers / direct credit by linking your local bank account, e.g. from Revolut. Funds available same day, much better than Wire transfer 👌 . Note, if >10k transfer will fail.
@SmartMoneywithKai
@SmartMoneywithKai 5 ай бұрын
Awesome to hear, thanks for sharing Jose, just had a look but sadly it said that the bank account must be based in the US for direct-linking via ACH so in my case it sadly does not work. Cheers👋
@johnwhite2050
@johnwhite2050 Жыл бұрын
Hi Kai! Really cool video, thanks as always! Quick question - you have talked a lot about increasing the share of your portfolio into high-paying dividend stocks. I'm looking to do the same and I was wondering with Interactive Brokers, do you know if the dividend is re-invested automatically into the stock or if it is paid into your account as cash? Thanks in advance!
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi John, many thanks indeed, glad you enjoyed it. It seems IB does offer DRIP ibkr.info/node/2730#:~:text=IBKR%20offers%20a%20dividend%20reinvestment,shares%20in%20the%20issuing%20company. but only for certain regions and for myself I prefer getting it paid out in cash and then reinvest it myself as I anyways do my weekly buys so I would just use those fund to buy more of the same of other stocks in my portfolio which are closer to a 52-week low so I can maximise my dividend reinvestment. Tax wise there is no difference for me. Cheers
@mimoland9
@mimoland9 17 күн бұрын
Hello, where is the link to the full IB playlist? Thank you :)
@SmartMoneywithKai
@SmartMoneywithKai 15 күн бұрын
Hi, thanks and sure, here it is kzfaq.info/sun/PLDn4g0rPd5xsBnTOocqdIzyNiU1c_y1ln Cheers 👋
@marco8047
@marco8047 5 ай бұрын
I can change my chf in usd on ibkr maybe a only for Swiss people
@SmartMoneywithKai
@SmartMoneywithKai 5 ай бұрын
Nice and yes, might be👌
@MonkeyClub
@MonkeyClub 4 ай бұрын
What application do you use to record the screen and make these image enlargements?
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
Hi, I use Ecamm for that, you can check it our here www.ecamm.com/mac/ecammlive/?fp_ref=kai77 Cheers 👋
@miacapriati7754
@miacapriati7754 Жыл бұрын
Hi Kai, I just opened an Interactive Brokers account. For a frequent/active trader only trading US stocks, do you think the fixed or tiered pricing plan will be cheaper? Thank you so much in advance for your input/ explanation. 🙏
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi Mia, for me tiered is significantly cheaper, but you can check for yourself here www.interactivebrokers.co.uk/en/pricing/commissions-home.php depending on your volume, but unless you trade huge volumes, I am pretty sure you'll also be better of with the tiered plan. Cheers
@eknols
@eknols 4 ай бұрын
Kai Mate, you need to breath in between, not good for your health. Amazing video as always :)
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
Thanks buddy, that would be the 11th tip 😂 Cheers 👋
@TheMacki95
@TheMacki95 5 ай бұрын
hi where can i see how to see when is the next earnings.thx
@SmartMoneywithKai
@SmartMoneywithKai 5 ай бұрын
Hi, if you go to your respective stock and scroll down you will see under transaction history and dividend payments you received and under you see the ex-dividend date which indicates your next dividend payment few dates after that date. However, I use getquin, which is a much better way to track your portfolio, dividends and see all your future payments much clearer. Made a video on it you can check it here kzfaq.info/get/bejne/js5hhMKbvaqwpWQ.html Cheers
@formfirstltdformworkdesign2185
@formfirstltdformworkdesign2185 Жыл бұрын
Hi Kai, what is your reasoning behind investing in shares with dividends? Considering that possible percentage on dividends you get is much smaller than what inflation is, and uncertainty of times where brokers can go bust or hold your funds when they find it necessary, dont you find it is better to invest in other assets like buying a property or even gold? Those two seem to be providing better return on your investment or seem less risky than dividend stocks will in long perspective
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi there and thanks for your question. Ultimately it always comes down to personal preferrence and there is no right or wrong, it needs to be in line with your personal risk/reward appetite. I do own property, P2P loan, Crypto and ETFs and now wanting to start adding into my Dividend portfolio as a further diversification. Firstly regarding your comments of a broker, the good thing is, your funds are insured up to a certain amount, anything over that limit, you can just open another broker. Secondly, IB is probably the most trusted and longest serving broker out there, since 45 years so I feel very confident with them. And what's the alternative? We've seen how fast big banks also can go bust so there is always a residual risk. I am not a fan of gold. For me it just doesn't fit. Keeping it at home is too risky, at the bank to expensive and in Germany recently many bank safes have been cracked and if I want to move the gold it's cumbersome and it doesn't pay me any income. Real Estate is always good, but right now I do not want to add more as the financing with such interest rates is way too expensive. As for inflation, sure, it might be higher than Dividends, but don't forget this will not stay like that forever, if it does, we all have other problems to worry about:) Also, don't forget Dividend growth, I look for stocks that have a track record of increasing dividends every year by 5-10%, which is higher than inflation and snow balls your income over time. Warren buffet spend $1.3B on Coca-Cola, last year got $777m annual dividend return, not too bad if you ask me😉So I love Dividend stocks, but will continue to invest in other asset classes as well. Hope that answers your question😉Cheers
@formfirstltdformworkdesign2185
@formfirstltdformworkdesign2185 Жыл бұрын
@@SmartMoneywithKai you are right, there is so many ways to invest, down to someones preference, so there is always something for everyone, Keeping stocks with the broker is also another place where we can keep our money so it all does not stay in one place, the more places the better. So, in my opinion, up until when we are ready for a bigger investment like property etc, stock dividends take relatively little time to buy / sell / hold so better to do that than nothing
@Ocean_Summers
@Ocean_Summers 7 ай бұрын
Hi, has the Euro USD exchange issue changed by now ? I was able to convert my Euro to USD so maybe you can update that part . FYI I use the mobile app , I don't know if it's different .
@SmartMoneywithKai
@SmartMoneywithKai 7 ай бұрын
Hi and thanks for sharing. Somebody mentioned that if you are with the IB Ireland entity it is possible. I am still with the Hungarian entity and it's not possible, but since all Hungarian clients will be merged to the Ireland branch soon, I will try it again👌
@Ocean_Summers
@Ocean_Summers 7 ай бұрын
@@SmartMoneywithKai great to know . Thanks for that video is was very helpful.
@SmartMoneywithKai
@SmartMoneywithKai 7 ай бұрын
Glad to hear and my pleasure, anytime💯
@Hulliex
@Hulliex 5 ай бұрын
Very nice and informative video ! Only drawback is that you talk really quickly... 😅
@SmartMoneywithKai
@SmartMoneywithKai 5 ай бұрын
Thanks a lot, much appreciated🙏 I heard that a lot that I speak fast in recent times, in the past I always pushed back on that, but with the new year being here, I actually added this to my list of goals to speak slower & with more intonation going forward, so thanks for that😉 Cheers
@TheChucklePark
@TheChucklePark 8 ай бұрын
Hey Kai, Ive been using IBKR for the past year now, i invested my eur to US stocks and etfs in USD. I had my base currency set to USD, then after wathching this video i realized that i should keep my base currency in EUR as im using Eur as investments, and I now see that my return went from +2% to -5% and im guessing its because of the currency exchange rate. I wasnt using Wise to exchange currency i was just buying US stocks in EUR currency. so my question is, why did my return go from +2% to -5 % after changing my base currency. please help me im very confused and doubting my decisions now...
@SmartMoneywithKai
@SmartMoneywithKai 8 ай бұрын
Hey there, I know it can be quite frustrating but mostly comes down to FX rates. Even if the stock markets are closed let’s say your portfolio returns might change due to FX rate changes. So just keep it in the currency you use the most ultimately that’s what matters more than seeing percentage returns. Cheers
@giorgos997
@giorgos997 Жыл бұрын
Btw you can change the base currency once every 3 months
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Thanks for the info, good to know👌Cheers
@Fedeultramotard
@Fedeultramotard Жыл бұрын
Thank you for the video. US market stocks taxes are paid directly from Interactive Broker, right ? I speak about non US Residents. Thank you again
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi there and many thanks. You are correct, the US stock withholding taxes are directly kept by Interactive Brokers. You can see it on your annual tax report the amount, but won't need to pay anything from your side. Cheers
@Fedeultramotard
@Fedeultramotard Жыл бұрын
@@SmartMoneywithKai Thank you for your quick reply. I'm searching AED currency into Interactive Broker but I cannot find it. I think that I have to convert AED into EUR or USD on Revolut and then trasfer it to IB.
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
My pleasure and yes, that's probably your best option, same as I do, convert EUR to USD on Revolut and send it from Revolut to IB, which is the cheapest option. Wise is faster, but a bit more expensive. Cheers
@am_9944
@am_9944 Жыл бұрын
i dont have many of the options you showed ... no base currency .. no deposit money only transfer also could you make a video on how divideneds work in the platform ??
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi Andrew, might be that you are not fully registered yet or didn't complete the KYC process, as normally these are basic functions of your account, maybe check with their support team. As for tracking Dividends, I made a video on it on how I prefer tracking them here kzfaq.info/get/bejne/frhghpBh2M3GZ6M.html Cheers
@am_9944
@am_9944 Жыл бұрын
@@SmartMoneywithKai thank you so much !
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
@@am_9944 My pleasure, anytime.
@am_9944
@am_9944 Жыл бұрын
@@SmartMoneywithKai apparently im using 3rd party IB via my local brokerage who uses ib as platform .
@travellergateway1020
@travellergateway1020 10 ай бұрын
My friend the information is really good you just need to make some stops when you speaking! Don't cut everything because will be not possible to listen everything in a row... Thanks for all
@SmartMoneywithKai
@SmartMoneywithKai 10 ай бұрын
Cheers mate. Much appreciated and glad you enjoyed it. I know I speak fast but that’s how I speak:) You can always slow down the playback😉Have an awesome day☀️
@CarlosPedroche
@CarlosPedroche Жыл бұрын
Hello Kai, I'm not a US citizen either, I'm from Colombia and I cannot use Revolut. To deposit money in IB and pay the lowest fees, what is the best way to do it in my case? use Wise? In your case, how do you deposit money in IB?, I didn't understand you when you say that you use Revolut and then convert the euros into dollars on the IB platform, you explain this in 4:00 - 4:45 minutes What is the Wise fee and what is the IB fee for converting euros into dollars?
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi Carlos, depends on your base currency. The easiest if you have EUROs but want to invest in USD, you can change your base currency in IB to USD, send the EUROs to IB and then exchange it there for amazing exchange rate plus USD 2 fee to USD. You can only exchange on IB to your base currency not from your base currency. Right now I have bought USD and EUR stocks and I mostly use EURO so I kept my base currency on IB in EURO that's why I can't convert to USD unfortunately. So if I want my money fast I would send it via Wise and it's there next day to be used and fee is just the exchange fee of Wise which I believe is 0.5%. If I am not in a rush I exchange my EURO to USD on Revolut, which gives a fantastic FX rate and then send it via bank transfer to IB, it takes though 8 days till I can use it on IB, but it's half the fees of Wise, so the bigger the amounts, the more it makes a difference. Hope this makes it a bit clearer:) Cheers
@riomasanicur2977
@riomasanicur2977 6 ай бұрын
@@SmartMoneywithKai Can you explain me " If I am not in a rush I exchange my EURO to USD on Revolut, which gives a fantastic FX rate and then send it via bank transfer to IB". What interests me, on which IBKR account you send dolars from Revolut. Is it account of IBKR in New York or in Germany?
@SmartMoneywithKai
@SmartMoneywithKai 6 ай бұрын
@@riomasanicur2977 USD goes to their bank based in the US, that's why it also takes a bit longer to process. Cheers
@riomasanicur2977
@riomasanicur2977 6 ай бұрын
@@SmartMoneywithKai Hello, I have one question about this. I am from Europe and have cash account on IBKR, base currency is EUR. I want to buy ETFs in dollar, but I can't. Then I exchange currency from EUR to dollar on IBKR, and now I have some dollars on account. Regardless I can't still buy ETFs in dollars. The system announced me that my account is eligibile to upgrade to margin account. I don't want to upgrade on margin account, I want stay on cash account. Now what can I do with this dollars - I can't buy ETF-s in dollars. My purpose was buy some ETFs in dollar. What can you recommend me ? Can I exchange this dollars in euro, and than buy some another ETF-s in euro. I know that I will have additional cost of converting but what can I do?
@riomasanicur2977
@riomasanicur2977 6 ай бұрын
also I don't want to change my base currency in dollar
@evelynmurphy9102
@evelynmurphy9102 11 ай бұрын
thanks for the video. Somehow I have less than one share with 2 different mutual funds. One is .549 and other is .9. I want to clean up my account and sell those fractions. When I enter a sell order I get an alert that says "your amount of .549 cant be verified. Should I just proceed with the sell and ignore? I dont use TWS, just the regular platform Also, on the regular platform it would be nice if there was a way to just sell all of a fund which would take care of this problem too. Thanks for any advice.
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
My pleasure, glad you enjoyed it. The easiest would be to go into your IBKR web portal portfolio, open the stock you want to sell and then on the right where it says buy and sell, under it says your position, next to it your account number and next to it three dots, click those and you will see close your position. Click that and it will automatically populate all your stock holdings in there and you just confirm to sell and that's it. Hope this helps. Cheers
@evelynmurphy9102
@evelynmurphy9102 11 ай бұрын
@@SmartMoneywithKai I’ll check it out ! Thanks so much!
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
@@evelynmurphy9102 My pleasure, anytime💯
@evelynmurphy9102
@evelynmurphy9102 11 ай бұрын
@@SmartMoneywithKai when I follow your instructions the amount prefills as expected but then I get a message that says I’m selling more than I own, even though I can see the amount is correct .059 shares for example. Frustrating 🤷‍♀️. Maybe I’ll attempt to chat with the very non user friendly platform. 🤔
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
Sad to hear that and yes, that would probably be the best approach to ask them as this is new to me and yes, I feel your pain regarding the interface and chat support, could be so much better. Just signed up with Trading 212, which is commission-free, based on Interactive Brokers infrastructure, but so much more fun and easy to use👌 So in case your frustration levels with IB is too high, feel free to check them out here and get up to €100 worth of free shares when you sign up www.trading212.com/invite/16bPQSi5Ld
@flaviolourenco3189
@flaviolourenco3189 Жыл бұрын
Hii Kai!! Can I have both cash and margin account on Interactive Brokers?
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi Flavio, I guess technically, if you have a margin account, you could still use it as a cash account, by depositing money and just use that instead of margin, so then the choice is yours. Margin just in case you did not deposit in time yet still want to make a trade. Hope that makes sense. Cheers
@zekirjakashtanjeva6564
@zekirjakashtanjeva6564 2 ай бұрын
How to mace a brocer acount
@SmartMoneywithKai
@SmartMoneywithKai Ай бұрын
Hi, not sure I understand your question?
@brunomacedo8213
@brunomacedo8213 Жыл бұрын
You say on tip 1 that you can’t convert your base currency (euros) to dollars. My base currency is also euros and I’m able to convert them into dollars… Am I missing something? Great video btw!
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi Bruno, thanks a lot🙏That's very interesting to hear, not sure how that is possible as it is not allowed under normal circumstances, unless you have margin trading enabled, that it can work, but I don't use margin trading so that might be why. Otherwise, if you can, awesome, that's the best possible option for you then, even better than Wise😉Cheers
@raion9692
@raion9692 Жыл бұрын
@@SmartMoneywithKai servus habe auch einen margin account und kann auch einfach dollars am markt kaufen und verkaufen eben euro in dollar
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
@@raion9692 Oh ok, wusste ich nicht, das ist gut zu hoeren, danke👌
@raion9692
@raion9692 Жыл бұрын
@@SmartMoneywithKai hast du auch ein video über die settings der tws ?
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
@@raion9692 Hi, leider nein da ich TWS selber nicht nutze.
@TheDasher7
@TheDasher7 Жыл бұрын
Hi, am bought a us stock with euro and my dollar balance was negative at first but after some minutes the euro was converted automatically into dollars without fees. My base Currency is USD. Isn t it better to buy a us stock with euro without any fees?
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
Hi there, I guess you have a margin account then, otherwise it would not work. And that depends on you, FX rate at the time and many other factors. I usually exchange in advance when I think it's a good rate from EUR to USD via Revolut and then send it to my IB account. The IB fee though is only €2 which is very good for such good rates you'll get with them. Cheers
@TheDasher7
@TheDasher7 Жыл бұрын
@@SmartMoneywithKaiactually I have a cash account
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
@@TheDasher7 Very interesting 🤔 But if it works like that for you then awesome 😉👌
@Mr2011Farmer
@Mr2011Farmer Жыл бұрын
@@SmartMoneywithKai So, sending Euros directly to IB could work out better than using Revolt? Thanks.
@SmartMoneywithKai
@SmartMoneywithKai Жыл бұрын
@@Mr2011Farmer I guess it depends on the amount. Exchange rate is almost the same so in this case if it's a smaller amount the USD 2 conversion fee on IB would make it more expensive, but if it's a larger amount, IB might be slightly cheaper, but overall I don't see a big difference to be honest.
@robynharrison6370
@robynharrison6370 4 ай бұрын
How can I just trade forex with IBKR?
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
Hi mate 👋 Jumping into forex with IBKR is pretty straightforward. Here's the gist: 🚀 Open an Account: If you haven't already, sign up for an IBKR account. Make sure it's enabled for forex trading! Get the Platform: Download their trading platform, like Trader Workstation (TWS). Fund Your Account: Deposit some cash to get started. Remember, forex can be volatile, so only trade with what you're cool with risking. Start Trading: Dive into the forex section on TWS, pick your currency pairs, and make your moves! Just a heads up, forex trading's not a walk in the park. It's wise to get familiar with the ropes, maybe through a demo account, before diving into the deep end. Cheers
@robynharrison6370
@robynharrison6370 4 ай бұрын
@@SmartMoneywithKai I have been studying forex for a couple of years now. I am in BTMM group. I wanted a real broker but learning this platform is a lot different than mt4 so it's got me hella confused.
@robynharrison6370
@robynharrison6370 4 ай бұрын
I can't find straight forward answers to my issues while learning this platform 😔 I can't even figure out how to measure the candles 😕
@SmartMoneywithKai
@SmartMoneywithKai 4 ай бұрын
@@robynharrison6370 Then better use another platform, I know it’s not the easiest but most established and capable but you need to like it so maybe just try few others 👌
@robynharrison6370
@robynharrison6370 4 ай бұрын
I'm already in BTMM for almost 2 years...there is such bs associated with forex market so my plan was to eventually go to futures and options and get an account with ibkr where I could grow..I am used to mt4 so this platform is so much different.
@KaloyanNikov
@KaloyanNikov 11 ай бұрын
Have you considered using Trading212, what is your opinion on it
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
Hi there, good question and as a matter of fact I have. I like a lot of their features and I also believe in diversifying your funds and holdings to not only depend on one broker, so absolutely and will do a full review on them shortly. Cheers
@KaloyanNikov
@KaloyanNikov 11 ай бұрын
@@SmartMoneywithKai One big minus is that you cannot transfer stocks to other brokers.
@SmartMoneywithKai
@SmartMoneywithKai 11 ай бұрын
True story, currently it's not an option, but I spoke to them and it's definitely something they would consider to add in the future. Rest is really great I must say.
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