What’s the currency you hold in your forex broker account?

[ashwini]

i hold usd in an account and in another eur...

and both quite good .. in usd account.. one 1pip=1$
where in eur.. account..1pip = 0.70 euro..

[Gupta]

As a rule, instaforex only allows for two currencies which are USD and EUR. Anyway, I think that this fact does not matter because the essence of trading is to make profits and not to withdraw back your investments without trading. Also you will realize that some brokers pay profits on your deposit even if you did not trade. Finally, if you invest $100000 in your trading account, it would be unwise not to trade with it if you have a good and profitable strategy. In 1 month you should be able to make a profit of $20000. By way of conversation, you should make profits of $120000 in 5 months and this should take care of any deficits you would have had.

[alam]

As a rule, instaforex only allows for two currencies which are USD and EUR. Anyway, I think that this fact does not matter because the essence of trading is to make profits and not to withdraw back your investments without trading. Also you will realize that some brokers pay profits on your deposit even if you did not trade. Finally, if you invest $100000 in your trading account, it would be unwise not to trade with it if you have a good and profitable strategy. In 1 month you should be able to make a profit of $20000. By way of conversation, you should make profits of $120000 in 5 months and this should take care of any deficits you would have had.

[ghaplex]

focus using one currency will indeed be a very good thing to do because it will be able to focus and to better understand and master the habits of a wave of price movement that can make it easier to analyze it properly and correctly.

that right,choose a currency pair and then we study the characteristics of the pair is better, because we came to know the habits of the pair, when it's time to move fast ,or market sidways so we can choose what kind of market conditions that we will go

[niteshforex]

As a rule, instaforex only allows for two currencies which are USD and EUR. Anyway, I think that this fact does not matter because the essence of trading is to make profits and not to withdraw back your investments without trading. Also you will realize that some brokers pay profits on your deposit even if you did not trade. Finally, if you invest $100000 in your trading account, it would be unwise not to trade with it if you have a good and profitable strategy. In 1 month you should be able to make a profit of $20000. By way of conversation, you should make profits of $120000 in 5 months and this should take care of any deficits you would have had.

[sasmita11]

you have provided some great information here, i fully agree with you .i think its best to have a trading account an a local currency from
your country otherwise your trading with your whole account

[twinkling star]

What’s the currency held in your broker?

This is one very important thing that every forex trader should know.
What’s the currency that you hold in your forex broker account?
Regardless of which country are you living in.
Your currency denominator in your forex account should NOT be in USD.
This may come as a BIG Shocker to you.
And if your denominator is in USD. Change It Now!
-Important Forex Tip – What’s the currency held in your broker?

Here’s why:
My Example: I’m based in Singapore. Around 2-3 years back, the USD to SGD (singapore dollar) is at the rate of 1 : 1.4 (est)
-Therefore $1 USD is equals to $1.4 SGD.
-But today $1 USD is equal to $1.1~ SGD.
So had my forex account denominator be held in USD. I will be making a huge loss!
Just for example. If your capital is $100,000 USD 3 years back, if i convert it back to SGD. It will be $140,000 SGD.
And supposedly, if i never traded the account. Today my capital left will be $110,000 SGD.
Meaning i made a loss on my account even though i did not even took a single trade!
Do you see what i’m driving here.
Even though if i had traded the account, my profits would have been wiped off or massively reduced due to the currency difference.
Which also means that you are practically wasting your time trading forex as none of your profits could be seen.
-Important Forex Tip – What’s the currency held in your broker?

So what now?
-Here’s the fact.
The USD will continue its way down, unless there is a chance of them clearing the trillion of dollars in debt. (chances are really slim)
Til then, the USD will at least not grow back to what it once was.
So if you are living outside of the United States.
You should either put your currency in your own country’s denominator or place it in a country which has a stable economy (eg. Singapore is one of them)
And if you are living in the United States.
You should change your denominator to another country which has a stable economy. (Not EUR – due to its mounting debt)
Some brokers will not allow the change if you are living in the United States but some will.
So if those brokers doesn’t allow you to change your denominator to other currency.
CHANGE THEM!
-Important Forex Tip – What’s the currency held in your broker?

-By changing your denominator to other currency, and if the usd continues falling against the currency you put in.
You will see a growth in your capital without even trading!
So that’s Extra Profits! (or even to cover your losses you made through silly mistakes)
Let me know if this post has helped you.
Do share it and like it! Cheers!
Ezekiel Chew, Asia #1 Forex Mentor from www.asiaforexmentor.com

you have give us the the very informative post, I also agree that usd is the best currency that we could use in ours broker account, as it is world wide use currency then every country could deal it easily, and it also good for the asian countries also to earn the profit consistantly. and could easily convert it in yours own currency also.

[sasmita11]

This one very important thing that every Forex trader should know.whats the currency that you hold in your Forex
.Broker account regardless of which country are you living in.

[anubhavsingh]

mere khayal se gold sabse achi aur safe pair hai long term me rakhne ke liye..gold ka long term ka trend hamehsa upar ki side hi rehta hai to agar gold ko long term ke liye buy akrke rakha jaye to mere khayal se bahut fayda ho sakta hai
same haal silver pair ka bhi hai..silver aur gold aise pair hai jo ki long term me hamesha fayda hi deke jate hai

[chetan]

As a rule, instaforex only allows for two currencies which are USD and EUR. Anyway, I think that this fact does not matter because the essence of trading is to make profits and not to withdraw back your investments without trading. Also you will realize that some brokers pay profits on your deposit even if you did not trade. Finally, if you invest $100000 in your trading account, it would be unwise not to trade with it if you have a good and profitable strategy. In 1 month you should be able to make a profit of $20000. By way of conversation, you should make profits of $120000 in 5 months and this should take care of any deficits you would have had.