Jump to content

Forex: account currency and exchange rate fee


Recommended Posts

Hi,

I was wondering how exactly the account currency and exchange rate fees impact forex tading

Say I have an account in EUR

I trade the EURUSD pair. I buy at 1 and then sell at 1.0001.

First trade: The trade occurs in the base currency (EUR in this case), and since my account is in EUR, there would be no issues. Would the same apply if I was shorting the EURUSD?

Second/closing trade: 1 pip = 10 USD. So that would be a gain of 10USD. That I can keep in USD or exchange back to EUR at conversion rate + 0.5% commission.

 

I want to trade GBPUSD

First trade: The base currency is GBP so I would need to convert my EUR IG account currency to GBP (or only the traded amounted ?) 

* If I want to trade 100.000 units with 10.000GBP and leverage 10. Would I be paying 0.5% on 100.000 (traded value) or only on the 10.000 GBP required to open the trade?

* Since IG does not have multi currency account, I would need to pay the commission of 0,5% each time I want to shift between EURUSD and GBPUSD trading ? Is there no way of holding both GBP and EUR, and decide which one to use depending on the base currency traded?

Second trade: I would earn/lose USD

 

Thank you in advance for your help!

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Imagine stepping into a world where every game you play is not just about entertainment, but about unlocking real rewards and experiences that resonate with you on a personal level. That's the magic of Game-Fi projects, where the boundaries between gaming and finance blur, creating an immersive universe where players are not just participants but pioneers of a new era. In the midst of this gaming revolution, there's a project that's been making waves for all the right reasons: NADA Protocol $NADA. Recently, I found myself diving deep into the realm of emerging Game-Fi projects, and NADA caught my eye like a hidden treasure waiting to be discovered. It's more than just another token; it's a symbol of possibility, offering gamers a glimpse into a future where their passion translates into tangible rewards. Let me take you on a journey through the world of NADA Protocol, where innovation meets excitement, and where every move you make could be the key to unlocking a world of endless possibilities. 1. Rewards Beyond Imagination: NADA Protocol isn't just another token; it's a ticket to a world where every move, every triumph, is rewarded. Imagine playing your favorite games and earning tokens simply for doing what you love. With NADA, that dream becomes a reality. 2. Trailblazing Roadmap: What sets NADA apart is its ambitious roadmap, charting a course towards a future where gaming and rewards intertwine seamlessly. With plans to integrate into future games, early adopters of the native token stand to reap massive rewards down the line. 3. Korean Innovation: Behind the scenes, NADA is powered by none other than NADA Digital Co., Ltd., a powerhouse in the Korean gaming industry. With a proven track record and global recognition, NADA Digital Co., Ltd. brings a level of expertise and reliability that sets NADA apart from the competition. 4. Global Validation: It's one thing to dream big, but NADA has the track record to back it up. With a presence in the global market and validation from players worldwide, NADA isn't just a promising project – it's a force to be reckoned with. 5. Exchange Expansion: The anticipation builds as NADA gears up for listing on top exchanges like Bitget. With increased accessibility and liquidity, NADA is poised to make waves in the Game-Fi space, captivating audiences and investors alike.  What are your thoughts, let's discuss? 
    • Hi There - Any update on this??? Or is it time to move my accounts to a platform that can provide DRIPs?
    • Hi There - Any update on this??? Or is it time to move my accounts to a platform that can provide DRIPs?  
×
×
  • Create New...
us