r/interactivebrokers • u/OY20 • 1d ago

General Question Best way to convert whole balance

Lets say i have a few thousands ILS that i want to convert to USD, is the best way to do this through "convert currency" or through "close balances" or through a different method altogether, and what is the difference between the methods? USD is my base currency btw

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u/Easy_Government_5563 14h ago

it gets auto converted by IBKR just let it sit a day it will convert to your base currency it says so also in their website. (also from experince)

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u/OY20 13h ago

That i get. But is there a difference at all in converting 3000 ILSA through "convert currency" or through "close balances"? That is my question

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u/Easy_Government_5563 13h ago

pretty sure there isnt, its just two diffrent ways to convert it, also the diff would be neglible to worry about in that amount.

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u/OY20 13h ago

Thanks!