Trading EURUSD with Australian Base Account

Beginner Questions
1

Hi All, First of all thanks to Babypips i learned everything from here from scratch regarding forex trading.
I traded in demo account for a month and now starting on to live account.

I opened razor account with pepper stone because of low spreads and very low amount to start with.

Now, I am planning to trade EUR/USD only because my after office hours will match with London session times and it had very low spreads

My doubt is my account is AUD account and I am transfeering money to forex broker in AUD.if trading EURUSD with this account how the currency conversion going to take place? how much i will be loosing in conversion rates? is there any better way to handle this.

Thanks in advance.

2

There will be NO currency conversions.

All of your positions (trades) in the retail forex market will be speculations (bets) on price moves. Those bets will all be placed in Australian dollars, and your profits (or losses) will all appear as credits (or debits) to your account in Australian dollars.

Your question is similar to one that I answered about 16 months ago.

Maybe my previous answer will serve to answer [I]your[/I] question, as well.

Here’s a link — 301 Moved Permanently