Is It Worth to Convert the Account

[ptcman 10]

Hi.

 

Recently someone called my attention regarding my IB account and the fact that is in euros when I trade almost exclusively USD based products (ES, CL, GC, US stocks)

 

They asked me why wouldn't I convert my account into USD, since it made more sense instead of being constantly paying commissions for the currency conversion.

 

I'd like to know your thoughts regarding this issue.

I'm a bit confused with this

 

regards

[Tams 20]

With IB accounts, you can designate any currency as your "base" currency.

 

ie it does not have to be your "home" currency.

 

you should designate your base currency in the product that you most often trade.

 

e.g.

if you live in Japan, and trades the ES.

then you should use USD as your base currency.

 

 

you can change the base currency designation anytime.