Position Entry Exchange Rate
Joined 29/03/23 01:09
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When trading CFDs on an exchange outside my base currency (AUD), when I open a new share position (CFD), say in USD, my statement shows a line for the commission converted from US to AUD, but exchange rate for the capital component of the position entry.
However when closing out the position, there will be a line for the conversion of the commission from US to AUD, and a line for the trade capital to be converted from US to AUD.
How do I know my entry exchange rate for the position? I ask because I use portfolio tracking software which expects an entry exchange rate and an exit exchange rate for a position. Currently I am using the commission exchange rate as a proxy for the entry exchange rate, but I notice that on exit the commission and exit echange rates may be different (by enough that it makes a small difference to the exit figures).
Essentially, my question is, how do I know what the entry exchange rate is?
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