Recommended currency for trading account?
Hi folks,
If you have deeper long-term fundamental knowledge, I'd like to hear your recommendation for what currency one should hold his trading account in these days.
My broker offers the following currencies for trading accounts: AUD, USD, EUR, GBP, NZD, JPY, CHF, SGD. Until now I held my account in EUR but I'm afraid my capital will further loose value due to the continuing euro crisis.
I thought about CHF or JPY. What do you think about these two? In case of a Euro crash, would CHF be negatively affected or not?
Thanks.
Kay
Maybe SGD.
The best thing is to compare ur currency with others. Check 1year, 5 year and 10 year historical charts. Choose currency which shows best chart.
Stick to your rules
The best currency is ur own country's currency if it u consider it one of stable currencies. Bcoz u will not have to pay for currency conversion fees. If ur currency is not stable enough or if it is not available in deposit/withdrawal options then go for USD.
Originally posted by ChampThe best currency is ur own country's currency if it u consider it one of stable currencies. Bcoz u will not have to pay for currency conversion fees. If ur currency is not stable enough or if it is not available in deposit/withdrawal options then go for USD.
Yes, But a big part of forex traders r from third world countries and for them Strong and upward trendy currency is good. So they need to compare different strong currencies with their currency. Choose the best after research.
Stick to your rules
I suggest to use your own currency.
By default anuthing but USD because it is bearish. EUR is good.CHF is stable.
I agree with usd coz it is bearish against stronger currencies. But how do u say EUR is good?? I dun think u have any idea of euro crisis. USD is at least better than Eur.
If you don t like EUR you can go CHF... very secure...
I think some are forgetting to mention Sterling, GBP. That has maintained its value and has been stronger against EUR and USD over the last few months so it is also one to consider too.
I think GBP is about the same than EUR. I really advise you CHF. Also you have good CHF brokers such as Dukascopy.
When deciding upon up to Fx agent, you will actually be able to select between four different kinds of records. Not all agents offer all four kinds of Currency dealing records - some will only be able to offer one or two. In reality some might even be able to offer more than four opportunities - it just is determined by the agent that you go to.
CHF. Bcoz:- Very stable and upward trendy. Very little chances of devaluation against other currencies. SGD is also a good choice but I think CHF is better