UK users using IB and trading US stocks.

[[email protected] 0]

Hi, I am new to day trading and BBT and am using a platform that charges exchange fees which are hindering me a lot. I am based in the UK so the account base currency is GBP. I am and want to trade US stocks only and I want to move to IB.

Please could anyone who is in the same position, based in the UK trading US shares let me know the cheapest way of doing it on IB? Should I open a USD base account and open a personal bank account (Revolut) and transfer USD into IB or should I just transfer GBP into the IB account and then transfer it in one lump sum within the account? If you have any advice or rough numbers to how much each way would be that would be greatly appreciated!

[Brad 18]

If you're with IB, you don't need to worry about transferring currency. It will calculate USD buying power using whatever currency you have in there and you can buy stocks with it. I believe that UK customers of IB are still subject to the PDT rule if that's an issue for you.

[Bryan W 50]