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Spread betting specifics



Hi, I was wondering if anyone could help me out with a question I had.

When spread betting FX pairs, why is it that the your profit/loss is calculated in the quote currency of the pair? If you're betting on the movement of the pair through spread betting why does it need to be converted? The reason I'm asking is that if your profit/loss is done in another currency, then when being converted over you might lose some profits that you wouldn't have if the entire bet was done in your account currency? I could be completely wrong so any feedback would help thanks!

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