I'm new to forex. Still in the learning phase.
My plan is do a few day trades with AUDUSD spot.
So...I've opened an account with CMC markets and had
a chat with client support. They said the min trade size
for my desired instrument is US$10,000 and margin is 0.5%
which is all good.
Now..I was also told that even after I close all my positions
for the day, the equity in my account would still fluctuate
since the p/l is in USD. And I cannot do a balance conversion
till their "End of day process" which is at 7:00am sydney time.
So that means it could still eat my profits if something goes wrong..
Does anyone else here use CMC markets to trade forex?? How can you make money if you can't do a bal conversion straight away? It doesn't seem right!