Canadian Trading

[s-dot]

I'm planning to open a new forex trading account with oanda. I'm just wondering, is it better for me to use my primary account currency as CDN or USD. So basically either convert my initial investment to USD before giving it to oanda or keep it as CDN and trade using that. Any suggestions?

 

[Cybren]

Best to have your primary account filled with your home currency.......that way you don't have any risk on your deposit, nor your profits or losses. If you are from Canada I would fund it with Canadian dollars. If you would fund it with US you would actually with that make a trade, buying US and selling CAD for the amount of your deposit. If you would want this it's better to trade it with CAD on your account so you can actually close such at trade at the moment of your own convenience!!

 

[plugger]

Quote from s-dot:

I'm planning to open a new forex trading account with oanda. I'm just wondering, is it better for me to use my primary account currency as CDN or USD. So basically either convert my initial investment to USD before giving it to oanda or keep it as CDN and trade using that. Any suggestions?

Convert into a basket of South African Rand and Russian rubles. I think you'll find this the best solution.