Base Account Currency?

I’m enquiring as to what base currency I should keep my account in? The options are either USD or AUD. I need to know as once I fund my account, I cannot change the currency.
My Details are as follows:
-Australian in Australia
-Intra-day Trader
-Planning on rarely withdrawing further from my account.
-Plan on trying scalping

Would I be better have base currency in USD and getting hit with a currency conversion while making deposits plus withdrawals or having it in AUD but then having the AUD/USD rate included with each of my trades.

Please help:confused:

i would seriosly advise you to use austrailian dollars. if not you will probably be charged a conversion fee by your bank, also this is effectively a trade, you are buying the usd over the aus, if the dollar weakens, you are losing money.

thats just my advise.

I’ve worked out the conversion fee to be 2.2% from my bank. But would this interfere with the profit/loss with so frequent trades? The price of the AUD/USD and EUR/USD has to be considered when opening and closing trades I am essentially trading on both aren’t I as for example:
My account is in AUD. I want to trade on the EUR/USD. So say I buy the EUR/USD and make a 7 pip profit when closing, if the AUD/USD subsequently drops 8 pips, that profit essentially remains a loss would it not? Please explain this to me.

Cheers

No. All the AUD/USD rate will do is change the value of a pip for you. It will not impact whether you gained or lost - just how much.

For example, if you make 10 pips on a standard contract of EUR/USD, that’s $100. If the AUD/USD rate is 0.9 then your profit is A$111.11. If the AUD/USD rate was 1.0 then your profit would be A$100.