Account currency

[goodmast3r]

What currency is your account? I currently in USD at Oanda. I'm thinking about converting this into CAD. What do you think about this? Anything I need to watch for? And do you like the idea of switching the account into high yield currency, like the AUD?

[Tiwary27]

I think AUD is better. But you should get some information before converting.

[rhodytrader]

Realize that if you have your account currency something other than your home currency you're taking a long-term bet on the exchange rate. The yields may look better, but that advantage could easily be wiped out by a move in the pair in question, and then some. For example, you could achieve 3% better yields, but the exchange rate could go 10% against you. It's the old saying, there's no free lunch.

[Smith27]

Well said rhody. it is like this