FX Broker in UK which lets me deal in base currency

Broker Discussion Forex Brokers
1

Dear All,

If someone could point me in the right direction I would be very grateful! WHat Im looking for is an fx broker, preferably in the UK, which lets me deal in the base currency of the fx pair.
For example: Say I was to go long EURUSD, I would like the gain/losses to be in USD rather than EUR.
If someone has any idea where I can find this please let me know.

Thanks,
Frank

2

Hi monsterfrank,

I think you are confused with base currency and quote currency. In EURUSD pair, EUR is the base currency and USD is the quote currency.
You can open account with FX broker either in USD or EUR, if you choose USD, your gain/losses will be in USD only and same applies if in EUR.

3

Hi Nandan,
Yes, you are right. I meant the quote currency, thanks…
Just as a follow up question: If I opened my account in USD with the broker and did a EURUSD bet, my winnings would be in USD, correct? Would the broker then be able to give me back my cash in EUR though? I literally only want the bet to calculate everything in the quote currency, but want my winnings/losses in the base currency. I hope this makes sense…
Thanks,
Frank

4

The currency you open an account with is the only you get paid with.

For example if you open an account with (insert broker) enter and exit a trade on EUR/USD for +25 pips this amount is paid back into the account with the currency you opened it with. The currency on each pair has nothing to do with what currency you get paid with.

5

Yes if you open account in USD your profit/loss will be in USD for any pairs you trade. You cannot request broker to give in EUR, as far as i know no broker would do that. In simple you gain/lose in currency which you opened your account.