Which currency to use in a new account?

Not sure where should i put this thread in, but i assume it got something to do with a new broker so i put it in broker's section here.

lets talk about 1-3 years timeframe, which currency will you put in a new broker account? obviously the currency to put is the one that will be most bullish.

EUR? USD? CHF? JPY? GDP? AUS? let say the broker only have those options available.


BTW, i 'm thinking swiss franc.

I can't vote because I'm too junior but I would agree with you on the swiss franc. USD, EUR and GBP are definitely out in my opinion. I use to denominate my trading account in AUD and CAD back in the days when I was really bullish on them.

However nowadays for a peace of mind i choose CHF. But all things said and done, you will never know what might happen!

fund it in the currency of the country you live in.

unless your country is greece.

but if you are like me and you have no choice to fund it in your home currency, I'd say usd.

unfortunately still the world's reserve currency and a lot of things are still bought and sold using dollars. one day when usa stops making goods or services that we all want to buy - that will be the day we can all use dollars as toilet paper.

Hey woopypooky just realized from your profile that you're from Malaysia. Me too btw

I had the dilemma like you but chose CHF in the end. Bear in mind that it might depreciate slightly against the MYR but you just have to take it as business cost.

I have more faith in AUD than CHF right now. The Swiss are good with money, no doubt, but they're very close to Europe and USA in terms of trade and politics, and we're all definitely in a long downtrend with no end in sight. AUD, on the other hand, is more a part of Asia (80% of Australia's trade is with China) and that region has nowhere to go from here but up.

wondering is there any currency that will appreciate againts MYR? probably chinese renmimbi but no way thats going to be available in Forex.



since i scalp on mainly EURUSD, my broker might convert the EUR or USD into swiss everytime i close the trade. So if the swiss in the same time going up againts EUR and USD, i might not get much profit or any profit at all, yes? anybody can provide some insight on this? my head too heavy to think right now.

That is an interesting question. I also think that you should put the most bullish one, but you have to consider the fact that brokers usually work with USD or EUR, so they might charge extra fees for not-common currencies. Check if it would be still worth it.
Regarding the CHF, it looks like it is going to get weaken because of the Swiss central bank intervention, so be careful of that..

You should always endevour to hold the account in your home countries currency otherwise you are taking on risk that is not part of your trading plan. If you hold your account in any other trade then you are essintially always in a trade. You are forcing yourself to make a trade based on the assumed fact that at least one currency out their will outperform your home currency, which is probably a correct assesment but the problem is which one will it be. You will most likely choose the wrong one due to a lack of a clear signal and the inability to get out if things arn't going as planned. You should only be making a trade based on a signal your strategy creates.