Trading Account Currency different to Traded Currencies

Hi

I hope you can show me the light. :slight_smile:

How would my trading be influenced if my account is in a different currency than what I am trading?

E.g. if I have an AUS$ trading account and I go Long on EUR/USD, how will the transaction be handled? Will AUS$ first be converted to the base currency or the quoted currency or what?

Will there be a charge for converting AUS$ to currency X?
How will this influence my risk and money management?
If there is a conversion, will this cause slippage?

Thank you,
hps