Hi, not sure where you saw that, on their website the FX conversion fees are clearly mentioned and that's also what I was charged every time. You can go for auto-convert if you don't want to do it manually before, but you will still have a small commission there as per their fee schedule www.interactivebrokers.com/en/pricing/commissions-spot-currencies.php Cheers
Hi, I don't think so, this is something done through your local tax office as they will take this into consideration when calculating your tax bill. Cheers
Hi and thank you. I do not use nor recommend Revolut for stocks. Mostly because they do not let you transfer your shares to another broker if you ever wish to do so one day, means you need to sell them, pay the taxes and then rebuy them at another broker which is not good. Cheers
Thank Kai. Btw. I see you buy SPY5 which I believe it’s domiciled in Ireland. Why you don’t buy IVV from iShares if you are not an European resident now?. Which is more efficient taxes wise?.
@@jrcarvallo1974 Hi and good question, because of US estate tax I do not want to own ETF's listed in the US as this might become very expensive later on.
My pleasure and glad to hear that 🙌 Interactive Brokers (IBKR) allows you to hold multiple currencies (like EUR and USD) in a single account. Here’s how it works: Deposits: You can fund your account with EUR, USD, or any supported currency without converting immediately. Trading: When trading in a different currency, IBKR will automatically convert the required amount, or you can manually convert currencies anytime. Reporting: Your base currency is used for reports, but you can still hold and trade in multiple currencies within the same account. This setup makes it easy to manage and trade assets internationally from one account. Cheers
Great video, Kai. As always - short, clear and on relevant topic. Keep posting! I was just thinking to ask you: if I am planning to buy stocks in USD, is it better to deposit IBKR account already in USD (using for e.g. Revolut as you suggest) rather trying to exchange EUR to USD in IBKR account? I guess exchange rates are way more attractive in Revolut compared to IBKR.
Hi Mantas, thanks a lot, much appreciated. Good question, I think for smaller amounts, less than €4K, I would stick with Revolut conversion as you will also have the IBKR $2 added on top of any conversions. On larger one's IBKR might be similar in some cases even better, their rates are actually really good. Also keep in mind, if you are not on Revolut Ulta, you will have transaction fees to send the USD to USA which will be more expensive then EUR via SEPA to Germany. Cheers
Hi, my main income is in USD and even if it wasn't I would still convert my EUR to USD, I just think it is the stronger currency long-term 👌 But you absolutely don't have to and if you live in EUR then EUR makes perfect sense 💯 Cheers
Hallo Kai, I followed your steps, sent from my Revolut Premiun account USD to my IBKR account, the money arrived fine, however, IBKR will take +6 days to make available, am I missing something? Danke
ok, just watched your other video ruclips.net/video/HAx0vQfJ1Ic/видео.html where you pointed it out it takes a few days to be available, well, it really makes auto-investing annoying. In my case: Deutch Bank -> Revolut -> IBKR
Yeah, it's not ideal indeed, while it's a great broker overall, that makes it a bit more cumbersome, which is why I enjoy using Trading 212 and eToro (instant and fee-free credit card deposits 👌) Cheers
I'm asked for the recipient's country subdivision, it does not work with both 3217 and 3166.Your entry is invalid please recheck your data. Can you help me?
Hi, it seems like the issue might be with the country subdivision code format. Interactive Brokers typically requires the correct ISO code for the country subdivision (like state or region). For some countries, you need to enter the specific code from the ISO 3166-2 list. Make sure you’re using the right format, and if you're still having trouble, try reaching out to their support for more guidance. Hope you'll get it sorted out. Cheers
Hi and in the description and video I said it multiple times that this works with Revolut Ultra in which case it's fee free so not really misleading. Now you may not want to choose to use Revolut Ulta which is fine, but myself and others do and actually get much more value in return from it than the cost of the card itself. Cheers
🔵 Open Your Interactive Brokers Account
👇 This is my personal broker of choice
smartmoneywithkai.com/ibkr
In the EU, euro transfers are free. On a regular account, purchases in USD, i.e. conversion from euro to USD, are free of charge.
Hi, not sure where you saw that, on their website the FX conversion fees are clearly mentioned and that's also what I was charged every time. You can go for auto-convert if you don't want to do it manually before, but you will still have a small commission there as per their fee schedule www.interactivebrokers.com/en/pricing/commissions-spot-currencies.php Cheers
Hi when trying to fund with US dollars through revolut, it's asking me for IBAN, not the routing number.
Hi Kai. Will the IB take into account tax clearance? This will make it easier in countries like Germany.
Hi, I don't think so, this is something done through your local tax office as they will take this into consideration when calculating your tax bill. Cheers
Hey Kai. Can we do the same method with paysera?
Hi, I don't use Paysera so not sure, but if they allow you to do regular bank transfers it should work 👌
Hey Kai can you keep using and invest in your trade republic light year and trading 212 account if you expatriate to Dubai ??
Hi and yes, for a while for sure. Unless they ask for an account verification of your local address 😉
And T212 is available in Dubai 👌
@@SmartMoneywithKai okay thank you very much
Is it worth to convert EUR to USD manually through manual convertion over using auto convertion when buying stocks?
Hi, for less than €4K you can leave it on auto conversion, over €4K it's cheaper to convert it manually 👌
Hi Kai, thanks for the nice and simple video. Question, why you are not buying ETF’s through Revolut?.
Hi and thank you. I do not use nor recommend Revolut for stocks. Mostly because they do not let you transfer your shares to another broker if you ever wish to do so one day, means you need to sell them, pay the taxes and then rebuy them at another broker which is not good. Cheers
Thank Kai. Btw. I see you buy SPY5 which I believe it’s domiciled in Ireland. Why you don’t buy IVV from iShares if you are not an European resident now?. Which is more efficient taxes wise?.
@@jrcarvallo1974 Hi and good question, because of US estate tax I do not want to own ETF's listed in the US as this might become very expensive later on.
Thanks for the video, but what I still dont understand is how IB works having EUR and USD on the same acount... thats my real doubt
My pleasure and glad to hear that 🙌 Interactive Brokers (IBKR) allows you to hold multiple currencies (like EUR and USD) in a single account. Here’s how it works:
Deposits: You can fund your account with EUR, USD, or any supported currency without converting immediately.
Trading: When trading in a different currency, IBKR will automatically convert the required amount, or you can manually convert currencies anytime.
Reporting: Your base currency is used for reports, but you can still hold and trade in multiple currencies within the same account.
This setup makes it easy to manage and trade assets internationally from one account. Cheers
Hey Kai, great video can you tell me is there still a 10k minimum to start trading on IBK?
Hi, thanks a lot and no, no minimums anymore 🙌
Kai, do you know the commission to transfer bitcoin from Revolut to A.Brokers?
Hi mate, sadly you can't send BTC into IB.
Great video, Kai. As always - short, clear and on relevant topic. Keep posting! I was just thinking to ask you: if I am planning to buy stocks in USD, is it better to deposit IBKR account already in USD (using for e.g. Revolut as you suggest) rather trying to exchange EUR to USD in IBKR account? I guess exchange rates are way more attractive in Revolut compared to IBKR.
Hi Mantas, thanks a lot, much appreciated. Good question, I think for smaller amounts, less than €4K, I would stick with Revolut conversion as you will also have the IBKR $2 added on top of any conversions. On larger one's IBKR might be similar in some cases even better, their rates are actually really good. Also keep in mind, if you are not on Revolut Ulta, you will have transaction fees to send the USD to USA which will be more expensive then EUR via SEPA to Germany. Cheers
Why would you buy shares in dollars when you're from Europe? What's the point?
Hi, my main income is in USD and even if it wasn't I would still convert my EUR to USD, I just think it is the stronger currency long-term 👌 But you absolutely don't have to and if you live in EUR then EUR makes perfect sense 💯 Cheers
Hallo Kai, I followed your steps, sent from my Revolut Premiun account USD to my IBKR account, the money arrived fine, however, IBKR will take +6 days to make available, am I missing something? Danke
for the record, I sent $1 to test
ok, just watched your other video ruclips.net/video/HAx0vQfJ1Ic/видео.html where you pointed it out it takes a few days to be available, well, it really makes auto-investing annoying. In my case: Deutch Bank -> Revolut -> IBKR
Yeah, it's not ideal indeed, while it's a great broker overall, that makes it a bit more cumbersome, which is why I enjoy using Trading 212 and eToro (instant and fee-free credit card deposits 👌) Cheers
@SmartMoneywithKai Great video, but how to send money to IB account in the USA from Hungary USD bank account without conversion and min. fee?
I'm asked for the recipient's country subdivision, it does not work with both 3217 and 3166.Your entry is invalid please recheck your data. Can you help me?
Hi, it seems like the issue might be with the country subdivision code format. Interactive Brokers typically requires the correct ISO code for the country subdivision (like state or region). For some countries, you need to enter the specific code from the ISO 3166-2 list. Make sure you’re using the right format, and if you're still having trouble, try reaching out to their support for more guidance. Hope you'll get it sorted out. Cheers
Misleading video title.
One needs to have Revolut Ultra which is a whooping >. Not ideal for avarage joe.
Hi and in the description and video I said it multiple times that this works with Revolut Ultra in which case it's fee free so not really misleading. Now you may not want to choose to use Revolut Ulta which is fine, but myself and others do and actually get much more value in return from it than the cost of the card itself. Cheers
fees are awesome
😉