I’m new to understanding forex, i understand how trading works as USD(my domestic currency) against another currency, and then once USD rises or falls like i expected, i trade it back for profit in USD, but what is the process when my domestic/account currency is USD, but say im trading EUR/JPY? is there also a separate fee to convert this back?
The size you are trading is based on the movement ie 10 pips. If you have $1 a pip and it moves the 10 you get $10 no matter the pair