Oanda and automatic non-base currency conversions.

[metaron]

Hi folks

I got an account with IB and notice they don't convert non-base currency positions for you you have to do it yourself.

Does Oanda convert positions automatically?

For instance if the currency of your base account is GBP and you go long 25,000 USD/CAD and then simply close the position by going short 25,000 USD/CAD do they convert the left over non-base currency positions for you automatically so you end up completely flat again?

M

 

[BSD]

Yup.

You don't have to do anything at Oanda.

 

[metaron]

Cheers for the info BSD.

Well that's definitely one less complication during the trading day with oanda.

Mind you kudos to IB, for futures you can't go wrong with them.

 

[sdpbroker]

Re

I also agree with BSD that you don't need to do any thing at Oanda.