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Originally Posted by Nonpiker
Deal at a bank at it is not much different. Actually your broker is nice enough to convert your counter PNL for you.
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You mean convert euro or pound or whatever in USD? Due to leverage how much paperwork accounting legal stuff would have to be done to convert 100000s of currency? Does a meager spread cover the time the resources?
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Most banks you have to hle these transactions.
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At what price?
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Most brokers offer services that you can physically exchange money. All you need to do is go set up accounts in every country whose currencies you are holding so can make debits/credits.
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But this isn't a stard procedure to open multiple accounts with diff currencies in diff countries. We are talking about ONE account. which brokers can allow you to hold in multiple currencies? (Possibly Owa is one of them?)
Still how much hassle is it to deal with 100000s of dollars legal stuff? How do brokers do it especially for scalpers???!!!!