AT Infinity - EUR Account Currency

[alban]

Hello,

I am interested to open an account with AT Infinity.

Currently I have my account at Interactive Brokers. The advantage with IBs is that you can have there a trading account on different currencies. As I live in Europe (Austria) this is important for me to have an Euro trading account (no currency risk with Dollar accounts). Also the base currency is the Eruo. I trade mostly e-mini futures, and after these are in dollar, so that with IBs every night after closing my positions I have to close all my "non base" currency profits into Euro.

What is your experience. How do you deal with this currency risk if you have a dollar trading account resp. is it possible at AT Infinity to have an euro trading account (similar to IBs)?

I am seeing in this forum, that a lot of you have an account to AT Infinitiy, s and that you live in different countries in Europe and Japan as well . How do you deal with this problem?

I appreciate your help!

Thank you,
Alban

[momentom]

The second thing you may want to know is how you can withdraw profits regulkarly to pay yourself, how long it takes to get and what the withdrawl costs you.

[Infinity_Tom]

Hi Alban,

You may deposit Euros into your trading account at Infinity. If you trade US based commodities your daily PnL will be computed in US$. You will then have two line items displayed in your daily statement. One will be total account equity in Euros. Two will be PnL of daily US trades. If you have negative daily equity in your US trades, some of the Euro account equity balance may be converted into US$ to cover your daily PnL loss. If you have positive daily PnL nothing will be converted and your balance will grow in US$. You can convert this US$ at anytime or when you withdrawl monies.

I hope this helps.

Best regards,

Tom

[momentom]

Tom, what exchange rate spreads do you use for conversion?

I assume that you do not convert euros to dollars for margin????

Do you charge for euro wire transfers?

Tx

[Infinity_Tom]

	Quote:	momentom
	Tom, what exchange rate spreads do you use for conversion? I assume that you do not convert euros to dollars for margin???? Do you charge for euro wire transfers? Tx

Hi Momentom,

End of day bank rates are used to do currency conversions.

We normally do not convert for margin calls unless a sustained margin call of 5 days occurs and the resulting liquidation causes a debit in the account.

We do not charge for wires in, but the sending bank usually charges a fee. We do charge $50 for international wires out.

Best regards,

Tom

[alban]

Thank you.

Momentum, you mentioned also important points, thanks.
how you can withdraw profits - and what are the costs for it?
It would be great if the At Infinity had a representative Bank in London or Frankfurt (so that within the EU the withdraw would be at no cost). That is the case with IBs with the Citi Bank in Frankfurt.

Alban

[momentom]

Yes alban, it looks like withdrawls with Infinity are expensive. Also, their so called end of day bank rates look like another even more costly expense - a tight bid ask interbank live spread is what it should be. \looks like they are not euro friendly.

[Infinity_Tom]

Hi Alban / momentom,

There is no fee for a check out.

The wire out fee for international customers is set by the sending bank in this case Harris Bank & Trust - Chicago.

Best regards,

Tom

[alban]

Hello Tom,

thank you very much.

Later in the near future (after 3-6 months) I am going to be in touch again with you, regarding to the trading account with AT Infinity.
a little disadvantage is, that with athe international money transfer, but until than maybe it will be any good solution.

Regards
Alban

[Infinity_Tom]

	Quote:	momentom
	Yes alban, it looks like withdrawls with Infinity are expensive. Also, their so called end of day bank rates look like another even more costly expense - a tight bid ask interbank live spread is what it should be. \looks like they are not euro friendly.

Hi Momentom,

I should clarify. We do not charge a fee for withdrawls. Checks and wires go out the same day if received by 10 AM central. There is a fee that banks charge called a wire out fee. This is a cost imposed by the bank and is not controlled by Infinity.

As far as currency conversions; If you trade euro denominated products like the DAX, everything is calculated and remains in euros unless needed to offset a debit balance, which hopefully you never have.

Best regards,

Tom