Account Currency

Account currency is the currency of your trading account balance.

Every trading account is denominated in a specific currency, such as the US dollar or euro. When you open a trading account, most brokers let you choose which currency you want. When choosing an account currency, consider what currency is most convenient for you. If you deposit a currency that differs from your trading account currency, it will be converted into the account currency and may incur a conversion fee. For example, if you’re in Germany, it probably makes more sense to have the euro as your account currency than British pounds.

Any trading operations, such as reserving margin for positions, calculating commissions, and settling profit and loss, are calculated in the account currency. Suppose your account currency is USD. If you trade EUR/GBP, any margin used, fees, profit or loss will be calculated in USD.

Brokers typically offer the most popular currencies for account balance, such as US dollar, euro, British pounds and sometimes Swiss franc, Australian dollar, Canadian dollar, Japanese yen. A broker might offer other local currencies depending on where they operate and where customers are based.

At ZFX, all our trading accounts are denominated in USD.