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Duration: 2:59

Level: Beginner

The Interactive Brokers’ (IBKR) GlobalTrader Swap feature lets investors swap stocks they own for an approximately equal value of the stock they would like to own.

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Study Notes:

The Interactive Brokers‘ (IBKR) GlobalTrader Stock Swap feature lets the investor swap out the position in a stock they own for an approximately equal value of the stock they would like to own. It is important to note that the stocks must trade in the same currency.

The Swap feature can be accessed several ways in the GlobalTrader app.

  • An investor can tap the blue “Trade” icon at the bottom of any screen and select Swap, and select a stock position to sell and one to buy
  • From the Portfolio page, the investor can tap on a stock, the Swap button is in the bar across the bottom, when tapped it will automatically populate with the selected stock and the investor can choose the new stock to buy
  • In a Watchlist, the investor can tap on a stock and the Swap feature will populate either the sell area if a position exists or the buy area if the investor currently does not have a position
  • Or tap Explore. Type in a symbol, and follow the steps previously mentioned for the Portfolio or Watchlist, the stock will appear in either the buy or sell area depending on whether there is an existing position.

In this example, the investor chooses a position from the Portfolio page to swap out. Once the stock is selected, they will tap on the Swap icon at the bottom of the screen and the symbol will populate the sell area.

The investor taps on the buy area and a list of stocks similar to the one being sold will appear. The investor can also see recently searched symbols by tapping on “Recent” or type a symbol into the search bar at the top of the screen. If the investor selects a stock that trades in a different currency a warning will appear, and they must reselect.

Once the investor has chosen a stock, it will populate the buy area and the amount of shares, share price, and the approximate value of the purchase will populate the screen. It is important to note that both orders will be market orders and the size is set to the current position of the stock the investor is swapping out of.

When ready the investor taps the blue “Preview” button, and a summary of the order will appear showing the approximate values of the shares as well as commission. Once the investor is satisfied with the order, they tap the blue “Submit Swap Order” button at the bottom of the page and a screen will appear confirming that the order was submitted and then filled. The investor can tap the blue “Done” button, go back to the Portfolio page and see their new position.

 

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.

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