Do I need to convert my USD to trade cross currencies? | Forex Factory

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Do I need to convert my USD to trade cross currencies?

  • #1
  • First Post: May 26, 2015 8:20pm May 26, 2015 8:20pm
Hi, if my base currency is USD and I want to trade GBP/JPY and GBP/JPY. Do I have to convert USD to GBP before I can place a trade?
  • #2
  • May 26, 2015 8:53pm May 26, 2015 8:53pm
Quoting stan255
Hi, if my base currency is USD and I want to trade GBP/JPY and GBP/JPY. Do I have to convert USD to GBP before I can place a trade?
No its automatically done.
Your P/L however will be converted back to USD.
  • #3
  • May 29, 2015 12:34am May 29, 2015 12:34am
Quoting stan255
Hi, if my base currency is USD and I want to trade GBP/JPY and GBP/JPY. Do I have to convert USD to GBP before I can place a trade?
What Lasty said..can I suggest something here - why not check out babypips? It has all the info beginners need, good luck.
  • #4
  • May 29, 2015 1:53am May 29, 2015 1:53am
I'm 60% complete on the babypips school however I didn't remember coming across anything about how our account currency will be converted if we trade cross currencies.
Thanks for the answers.
  • #5
  • Last Post: Jun 6, 2015 12:14am Jun 6, 2015 12:14am
That's great, now you only have a little more to go in order to graduate from B pips..as regards your query, it has already been answered..good luck.
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