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Duration: 3:06

Level: Beginner

The Interactive Brokers’ GlobalTrader app is a simplified version of our mobile platform that was designed for our global client base to easily trade stocks, options, and mutual funds in markets around the world. This course will review how to convert currency, enter trades, use the Swap feature, and trade using the Option Wizard tool.

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Study Notes:

The Interactive Brokers’ Global Trader app was introduced with the purpose of making it simpler for our global client base to easily trade in markets around the world. The app is a simplified version of our mobile platform. It allows the investor access to stock markets around the world, as well as trade options and mutual funds. And US clients and those of select non-US eligible countries may trade cryptocurrency through Paxos Trust Company.

The investor can also fund the account in over 20 currencies and settled funds can be converted into whichever currency is needed to invest at the time of trade.

For US cash accounts, GlobalTrader allows users to easily convert currency from their base to the currency needed prior to the trade. For US margin accounts, Interactive Brokers will lend the foreign currency needed for the purchase so investors can trade foreign stocks without converting currency prior to the trade.

With IBKR’s GlobalTrader app, for UK and Canadian investors opening their accounts, a Non-Borrowing Allowed Margin account behaves in the same way as a cash account where the investor cannot borrow on margin.  However, this allows an investor to buy a foreign stock without first converting their currency to the trade currency by temporarily lending the investor the currency needed for the trade and then converting the negative cash balance to the correct currency after the trade is complete.

For other regions’ capabilities, please visit our website for details.

When logged into the IBKR GlobalTrader, the investor sees four icons at the bottom of the screen: Home, Portfolio, Watchlist, and Explore. In each of these screens, the investor can create an order ticket by tapping on the blue Trade icon in the bottom right-hand corner.

On the IBKR GlobalTrader Home screen, the investor sees a performance chart at the top of the screen. Below are easy-to-use buttons to view:

  • Transactions, including trades and money transfers,
  • Deposit and Withdraw buttons that allow the investor to move money in and out of the account,
  • A Currency Conversion icon that allows the investor to convert deposited money into another currency,
  • The Account button that allows the investor to manage their account, and
  • A Support button.

In this video course, the investor will learn how to convert currency, enter a trade in both base and non-base currency, use the stock scanner, replace a current position for another using a Swap order, trade options using the option chain and Option Wizard.

 

Resources

IBKR GlobalTrader


Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Disclosure: Forex

There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.

Disclosure: Paxos-Virtual currency

IB is not party to any transactions in digital assets and does not custody digital assets on your behalf. Paxos Trust Company (“Paxos”) is your counterparty to any transactions in digital assets, and any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of IB.

Digital assets held with Paxos are not protected by SIPC.

Digital asset trading with Paxos is limited to U.S. residents with individual or joint accounts.

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