Hi everyone,
I’m trying to understand Forex more before hoping to go live soon. Quick question about the practicalities of trading and withdrawing your earnings.
Let’s say for example you have been trading in a pair, say the USD/JPY and your countries currency is the British pound or Euros, or another, just a third currency to the ones that you have been trading in.
You make a tidy profit from a week’s trading and want to withdraw it. Will the profit total be converted then to your home currency at the market rate ( which can fluctuate) or at a fixed rate? If so, does it depend on the broker to convert it to your country’s currency or your own bank ?? So, if I make a $100 USD profit for that week, will it be converted to GBP for example, if I lived in England, or SGD if I live in Singapore etc etc … at the market rate or at a fixed rate or does that depend on the broker or bank etc ??