hi all,
i ask one of the broker and i dont understand what they meant.
Q2) Can i deposit in sgd and trade in the sgd currency? how about in aud currency? if it Is a must to trade in usd currency. Is the conversion all done by the bank?
- Yes. You can deposit either on our SGD,USD or EURO account. It is not a must to trade in US currency. It depends on the currency pair your trading with. If your fund is in SGD, everytime you trade it will be converted to the amount corresponding the other currency. You will be the one doing the conversion if you have multi-currency ledgers, it could be done daily, weekly, monthly or up to you when you want to convert but the default setting is daily.
Is it mean if i trade eur/usd, gbpusd, eurjpy pair. They will still subject to cuurency conversion to trade in usd. unless i trade in usd/sgd pair?