XE: Convert CAD/AUD. Canada Dollar to Australia Dollar

A little advice

I just started forex and am just confused about a few things.
When I open my trading account and deposit usd, for example, how can I trade aud/cad for example?
Does USD convert into the base currency?
And when I “exit” the trade I am left with cad if I sell right?
Another thing I am confused about is in mt4 when you start with usd for example, and you buy aud/cad for example, where can you see the aud in you account?
submitted by osgoodey to Forex [link] [comments]

Will be in Australia 3-4 years. Is using a Canada credit card with low exchange fee the better choice than opening an Australian bank account?

Folks, wondering if any of you are big international travellers for more than a few weeks at a time and how you handle your finances in that situation.
I will be an international student in Australia from 2017 to 2020/2021 and am looking at the idea that it might make sense to use my Tangerine MasterCard, with a 1.5% conversion fee from CAD->AUD, as my primary credit card in Australia for day-to-day purchases, rather than converting the majority of my CAD->AUD, opening a bank account in Australia, and using one of their credit cards as well instead. (My choice of title is a bit misleading. I'd open an AUD bank account anyways with a reasonable backup contingent of cash no matter my choice. Just looking at what I should use as my primary spending method, a Canadian CC or an Australian CC/debit.)
I've never done a lot of currency conversion. The 1.5% fee sounds hefty but must be in line with what I'd be getting charged for forex from any major bank/exchange place anyways? I've always been left with the impression forex is gonna stiff you no matter what you do. My math might be assuming too much here, but there's also the fact that the Tangerine MC is a 1% cashback (or greater) across the board, which would help subsidize the exchange fee.
Thoughts? (Please note I have no intention in staying in Australia so would have no need to build credit there. No need to factor that into considerations.)
submitted by CLENVENMETINS to PersonalFinanceCanada [link] [comments]

Best FCNR Options?

Hi all. People who know forex: What's the best FCNR currency to invest in? * USD * GBP * Euro * JPY * CAD * AUD
I'd be converting from the UAE dirham (AED). Is splitting about USD 15-20k across different currencies and time periods a good idea?
Thanks
submitted by AUserName01 to IndiaInvestments [link] [comments]

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