Dislikedhey guys ive got a question regarding overseas and US brokers...
i was just looking into getting a live account with ibfx but theres an issue.
Say i deposit $1000 AUD, it then gets converted to say $600USD. If i trade that to $800 USD and want to withdraw it it gets converted to australian dollars back. That means if the exchange rate goes down more i could actually receive less than $1000 AUD even though ive made money???
I've been thinking about going with Gomarkets just for the convenience for once to have a broker locally, not sure if I would still do it in USD or AUD though, I'd still prefer USD as will take a while for me to get used to trading in AUD, pip values will be different I assume.