The Base Currency is the main currency used for account reporting, margin calculations and certain account charges. MEXEM accounts can hold positions and cash balances in multiple currencies. Because of this, one currency must be selected as the Base Currency so that account values, balances and statements can be translated and displayed consistently. The Base Currency is also used for margin calculations. Since cash and securities in one currency may be used as collateral for positions denominated in another currency, a common currency is required to calculate account equity, margin requirements and margin compliance. Certain fees or account charges may also be displayed or charged in the account’s Base Currency, depending on the fee type and applicable account settings. Many clients choose the currency of their country of residence, or the currency in which most of their income and assets are denominated.
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ACCOUNTTYPE
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