In short
- Match your account currency to your bank account currency.
- Check the broker's conversion mark-up.
- SEPA transfers into euro accounts are usually cheap and fast.
Where conversion costs appear
| Moment | Euro account (funded in EUR) | USD account (funded in EUR) |
|---|---|---|
| Deposit | No conversion | EUR → USD |
| P&L on USD-quoted pairs | USD → EUR | No conversion |
| Withdrawal | No conversion | USD → EUR |
Example
Depositing €10,000 into a USD account with a 0.5% conversion mark-up costs €50 on the way in and roughly the same on the way out — €100 before you've placed a trade.
When another currency makes sense
- Your savings or income are in that currency
- Your local currency isn't the euro (e.g. PLN, SEK, CHF) and the broker offers it
Frequently asked questions
Can I fund a euro account by SEPA transfer?
Most EU brokers accept SEPA transfers into euro accounts, typically without broker fees.
Should I open a USD account to trade EUR/USD?
Not necessarily. P&L on EUR/USD is in dollars and will be converted either way; what matters is the conversion mark-up and your funding currency.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.