Currency Trading

[gmow]

Hi Marc, I'm unsure how to set up and track Currency Trading.

Purchase $10,000 USD
Base Currency CDN
Record my cost(ie $12,000 Cdn)
Track based on my retail rate(not FX rate)
Future Sell $10,000USD to CDN(ie $12,500) gain $500

Create a sub-portfolio?
Create USD Investment?
Cash Account?

[Mark]

Hi gmow,

This would be an investment in USD. All transactions/prices are recorded in USD, since that is the currency assigned to the investment. If you have this investment in an account where you have a default cash account in CDN it will automatically recording a corresponding entry in your CDN cash. When you record the transaction in the USD investment, you'll have an option to enter an exchange rate to use for the transaction, which will control how much CDN is debited/credited in the default cash account.

[gmow]

Is the transaction always at $1

[Mark]

Yes.