hi guys, This might sound like a bit of silly question but if im living in the UK and open a forex account, im given the option by the broker to choose what currency i would like my account to be denominated as.
Logic would tell me to have it as a gbp denominated account but is there any benefit to having it as any other denomination? If yes then what are the benefits?
Also how would the broker calculate the value of one pip? wouldnt it change with every pip movement? So everytime i go to trade the value of the pip would be different..
Logic would tell me to have it as a gbp denominated account but is there any benefit to having it as any other denomination? If yes then what are the benefits?
Also how would the broker calculate the value of one pip? wouldnt it change with every pip movement? So everytime i go to trade the value of the pip would be different..
