Hi, I am new to forex and have a few questions for the more experienced traders.
When trading currencies, in which currency is the profit or loss calculated in ?
For example, I live in the UK , If i traded usd/jpy and made 20 pip profit, in which currency would the profit be in?
How would i then convert it into british pounds ?, and do the brokers charge an extra spread for converting this into pounds?
Appreciate any replies.
When trading currencies, in which currency is the profit or loss calculated in ?
For example, I live in the UK , If i traded usd/jpy and made 20 pip profit, in which currency would the profit be in?
How would i then convert it into british pounds ?, and do the brokers charge an extra spread for converting this into pounds?
Appreciate any replies.