MT4 - So is there a way to change the base currency.

[Ugoagoago]

I'm kind of quite liking MT4 but still familarising myself with it.

One aspect I'm curious about:

Is it possible to alter the base currency from USD to GBP.

The Account History converts all results after converting to USD ( atleast I think this is what it's doing).

 

So is there a way to change the base currency.

 

Many thanks in advance.

 

Regards

[Caseynotes]

I fired up the old MT Quattro myself a couple of weekends ago to test fire a couple new indicators I had downloaded, after not using it for some years it only took me a couple of hours to remember how to do the basics.

 

Are you using the IG version MT4?

Do you have pound symbols after the pair name?

 



 

 

[Caseynotes]

Just to follow up the last post,

 

click View

click Market watch

right click on any pair

click Specification.

Look at Margin Currency

 

In IG MT4 it is fixed on GDP but I think other versions maybe changeable?

 



 

[Ugoagoago]

Hi Casey,

Thank you for trying to help.

I'm using a demo version at the moment whilst I get used to the software- so maybe this is the reason. I'm not sure.

I've tried your suggestions but not had any success.

 

As it stands - on my Account History - if i make a gain of 14 points - this is entered into the profit column as 18.63.

Ratio 1.3307 - which is roughly cable conversion - hence my question.

 

What I shall do, is continue for a while and if I decide to use Metatrader properly ,  I'll contact IG tech dept to see if there is a resolution to this. I just wondered if there was something I was missing...

 

Thanks for taking the time though to post a reply ...much appreciated.

[Guest DanC]

Hi ,

 

You can select the currency of the demo account when you are creating it, but I'm afraid this can't be updated once opened. I'd recommend setting up a new account, and you'll just need to amend the Account Type as in the screenshot below. The Forex options relate to CFD demo accounts, and betting equates to a spread betting account. You can then choose the appropriate currency.

 



 

Hope that helps!

Dan

[Guest Stef]

Hi ,

 

How do I change the base currency for my live MT4 account? Mine is currently in GBP, but I would like it in USD.

 

Regards

Stefan

[Guest 93090 - Katia Lo Drago]

Can I change the funding for GBP to USD?

[Guest Account currency]

It's confusing when you talk about changing the base currency. A Forex pair is made up of a base currency and a counter currency. In the pair EURUSD, EUR is the base currency, USD is the counter currency. 

When you have a broker account, that account has a currency, called the account currency. You can't change the currency of an account. However, Brookes will happily let you have more than one account and each account can be in a different account currency. Then, you can withdraw from your USD account into your bank and fund your GBP account from your bank account. You select the account currency at the time of creating a new account.