Forex account currency.

Currently, a Forex account can be opened in at least three currencies - rubles, dollars or euros. Having a choice confuses some traders, which currency is better to open an account in?

The choice is not quite simple; it is better to approach the issue taking into account your individual characteristics; this decision will be the most correct.

First of all, you should take into account the Forex tools with which you conduct trading, secondly, convenience of payments, thirdly, anonymity.

It should be noted right away that trading using the euro is quite inconvenient, so we will choose the currency of the Forex account between the ruble and the US dollar.

1. Depositing and withdrawing funds - when transferring funds within Russia, it is most convenient to use the ruble.

You lose less when transferring and exchanging money in various electronic systems, since when using foreign currency you should first transfer dollars to the wallet of the electronic system, and then through an online exchanger to a card.

Options for withdrawing rubles are more attractive - mail, bank card, Yandex money.

Therefore, if you approach from this side, the ruble will be much more convenient and profitable.

2. Trading - the costs of currency conversion in trading are not that high, but psychologically trading the ruble is much more difficult. For example, when trading 1 lot, 1 Forex point , on average equals 10 dollars or 340-350 rubles, in the latter case, a loss of 3 points is as much as 1000 rubles, the hand itself is trying to close.

The only exception is trading in ruble pairs , where the result of a transaction in rubles looks more natural.

3. Anonymity - taxes on earnings on Forex are 15%, and if you come across a competent and honest tax inspector, an illiterate tax employee may try to charge you the full 35%.

For this very reason, most professional traders use dollar cards, which are issued by some dealing centers ; the account is located in an offshore bank and does not attract the attention of the tax authorities.

Money can be withdrawn from such a card at any ATM, although in most cases you will only receive rubles; if you use the card abroad, the withdrawal will be made in dollars or euros.