Ruble account on Forex.

Many traders, after starting forex trading, wonder which currency is best to open an account in.

Most brokers typically offer three options—dollars, euros, or rubles—but choosing the right one can only be done individually.

This depends on how you fund your account and which instruments you use for trading.

Otherwise, you'll face additional exchange costs or simply inconvenience, which is why choosing the right account currency is so important. Internal exchange rates on broker websites are always quite unfavorable.

Most traders believe that topping up their deposit in rubles is the best option. It seems hassle-free: transfer from a bank card or simply send a wire transfer, and the money is in your account.

Unfortunately, not all brokers offer ruble accounts, meaning you're deliberately limiting your choice of trading partners. Furthermore, many forex brokerages charge additional fees when depositing in rubles. The reason for this is unknown, but it's a fact.

A ruble account allows you to make trades with profits and losses calculated in rubles. This approach is only convenient if you're using the USD/RUB and EUR/RUB currency pairs. Otherwise, it's quite unpleasant to immediately see hundreds of dollars in losses due to the spread after opening a trade.

Finally, trading the ruble on Forex isn't all that simple; besides the high spread, there are a host of other nuances.