I have usd account. If i buy usd/jpy with 1 standard lot size, is it that the trading system exchange usd amount from my usd account to amount of jpy first, and then it buy usd/jpy using that jpy amount to buy usd? It involves 2 times exchange, first it convert usd from account to jpy, and convert jpy to usd for buying, anybody know the answer?
When you trade USD/JPY with a standard lot size, your trading platform will automatically convert the USD in your account to the equivalent amount of JPY required to buy one standard lot of USD/JPY at the prevailing exchange rate. This conversion happens almost instantaneously and automatically in the trading platform, and you do not have to initiate any separate currency exchange transactions.