Some brokers like Phillip Futures allow you to hold whatever currency that you have traded in your account until you decide to convert to another currency. It will not auto convert your profits back into base currency. In this case SGD.
Eg. USD/CAD pair. Any P/L will be settled in CAD. If you close position and have profit then CAD will be credited into your account.
Conversion rate spread confirm better than money changer.
Although Phillip Futures may not have the best spreads out there but I like being able to keep a basket of currencies as I can hedge. When one currency is down the other currency will make it up.
My basket consists of CAD, CHF, JPY, USD, SGD.
i was with poems, securities. they allowed same thing. overall margin, convert to sgd. single account.I suppose you do not have to create 5 different accounts for each currency. If that is the case, just curious how they track your overall margin level if they are in 5 different currencies - unless they convert to a base currency only for monitoring purposes . Anyway, this looks like what I am looking for if they can have it all in 1 account. Thanks for the info!
I suppose you do not have to create 5 different accounts for each currency. If that is the case, just curious how they track your overall margin level if they are in 5 different currencies - unless they convert to a base currency only for monitoring purposes . Anyway, this looks like what I am looking for if they can have it all in 1 account. Thanks for the info!
All different currencies under one account. Daily exchange rate will determine how much USD is available in your account for margin trading. However your various currencies are intacted and not auto converted to USD unless you choose to.
That is why I advocate to maintain a basket of major currencies to hedge. Don't know why no one is practicing this except me?
If one currency is down, the other currency will make up the shortfall in USD terms.
I am looking along this line as well. 
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