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Non-USA traders, do you transfer balance back to your currency ?
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Non-USA traders, do you transfer balance back to your currency ?

  #1 (permalink)
Membership Revoked
Futures Experience: Beginner
Posts: 1,081 since May 2010
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Non-USA traders, do you transfer balance back to your currency ?


I asked the brokers and got several different answers, my money is in Euros. I transfer to my broker in euro on his euro account. I trade USA futures, they transfer money for a $ amount from that euro account. IT STAYS IN $. Meaning, have you seen the euro/usd jump last days ? My money on the $ is decreasing in value every day. Solution ? Daily transfer back to euros, cost ? $20 a day !!! (at Velocity and PFG)

How do you do it ? Do you keep your money in $ ? But then you have a problem all of a sudden your account is much less worth ? Or do you transfer it weekly ?

It's best to trade in the currency were you live with ofcorse...then you don't have this problem, but then I miss all those markets.


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  #2 (permalink)
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  #3 (permalink)
Elite Member
Futures Experience: Beginner
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Exchange rate risk is part of the cost of doing business internationally, be it import/export or trading foreign capital markets. You can hedge against it or just deal with it. For my size I just deal with it.

I do keep track of both real P&L and home currency adjusted P&L. It is a constant reminder to look for opportunities in my backyard and not be too drawn into the "bright lights big city" thing the US markets offer.

Someday the currency might swing back in your favor. Have faith in the Euro .

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  #4 (permalink)
Just a boy
Auckland, New Zealand
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I trade in US$ via a US broker on the US & Eurex futures market.

I convert funds back to NZ$ as and when I need the funds.

For the balance remaining with the US broker in US$, I just wear the currency risk.

My performance as a trader has a much greater potential to cause return fluctuations than does the currency risk ie there are bigger things to worry about/you can influence than worrying about the currency risk on your US$ account balance. IMHO - of course.

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  #5 (permalink)
Elite Member
Kaunas, Lithuania
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neriusb's Avatar
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Because I'm trading in US markets, my account is in USD, but home currency is in fact EUR (1EUR strickly = 3.45LTL) . Transfering earned money to my account in USD and then converting to home currency. One time win, the other lost ;-)

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  #6 (permalink)
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Futures Experience: Intermediate
Platform: Ninja trader
Favorite Futures: FESX
Posts: 6 since Nov 2010
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Hello everybody, newbie here and this is my first post. Great forum, found it whilst looking for a new broker [due to a technical issue with my Ninja Trader Platform] And in that regard it has been most helpful.

Anyway up to today my account was with Advantage Futures. I'm based in the UK, and trade on the Eurex exchange. I funded the account in GBP, it stays in that currency so my daily invoices show the three currencies. Trading commissions and exchange fees in USD and Euro. P/L in Euro, with the account balance expressed in USD. Never found it to be a problem. OK it's open to currency fluctuations but I did not find it a problem really.

At no time was a fee debited against the account. like if you wanted to clear from the debit side of the account the commission fees. I will be receiving my closing statement email tomorrow, showing the account transferred to RCG the clearing broker.

Edit: Of course if the account is funded by a currency other than the one your trading in. And it is different to the currency that commissions are levied in, then any said commission/ exchange fees or loss in the P/L balance of instrument traded in will incur monthly interest charges. Anyway that was my experience with Advantage Futures

I set up a spreadsheet where I entered all my trades on a daily basis, and every morning just adjusted the GDP to USD and Euro to USD exchange rates on said spreadsheet as expressed on the daily invoice. It acted as a double check that the invoice and my data input were correct when both tallied with each other.

Last edited by SimpleSimon; November 24th, 2010 at 01:34 PM.
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Administrator: Retired Backtester
Rennes France
Futures Experience: Advanced
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sam028's Avatar
Posts: 3,460 since Jun 2009
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What I'm doing, when I know I'll have to stay in position more than few hours, is hedging with the "other" currency.
Before doing that, I had some bad surprises, like +200 in $, but 0 in €...

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