Multi-currency futures account

This is a discussion on Multi-currency futures account within the Brokerages forums, part of the Commercial category; Are there any futures brokers that allow multi-currency accounts? I would like to deposit both USD and GBP. How is ...

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Old Mar 8, 2012, 11:57pm   #1
Joined Aug 2008
Multi-currency futures account

Are there any futures brokers that allow multi-currency accounts? I would like to deposit both USD and GBP. How is P&L calculated when I trade a contract denominated:
a. in USD
b. in EUR?

My understanding is that I have to select a base currency of my account. In case a. my account is credited with USD, whereas in case b. with USD at the EUR/USD exchange rate of the day when the trade settles, which is very close to market rate. GBP in my account would serve only as an initial deposit to enter a trade. Is that correct?
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