The thumb rule is to use the currency that you will need to fund future expenses as the base currency of your trading account.
Should you be living in a country where the currency is not one of the major currencies, the correct decision will be to select the major currency that is the most commonly used in your region as the base currency to open your trading account.
The main purpose of selecting the right currency is to find the proper approach to protect your gains made by Captain Algorithm in terms of purchasing power.
> Should you be living in a country that is using one of the major currencies and is expecting to use the said currency to cover future expenses than you should open an account with that currency.
- For example, should you be living in the U-K and are expecting to have future expenses in GBP than the correct decision will be to open an account in GBP for the profits you will make by using Captain Algorithm will be in GBP - translating into a net increase of purchasing power in GBP.
- On another hand should you be for example, a French expat living and working temporarily in Australia, you will need to prioritise which currencies between EUR or AUD will be the most needed for your future expenses.
> Should you be living in a country which currency is not one of the major currencies than the correct decision would be to choose the major currency that is the most commonly used in your region. The main reason is the perennial convertibility of those currencies entailing the ability to cover expenses domestically and internationally. The use of minor currencies does not change per se the trading logic of Captain Algorithm. However the main risk with minor currencies is their tendency to appreciate very slowly against other major currencies while they can depreciate really fast against other major currencies. Furthermore, minor currencies are usually inflationary translating in the reduction of purchasing power over time. Thus the choice of a major currency will always be the safer choice - but not necessarily the more profitable.
- For example should you be living in Brazil, to choose either USD or EUR is the safer choice. Because the money you earn thanks to Captain Algorithm can always be spent. However it is not necessarily the more profitable choice shall BRL appreciate rapidly and greatly against the USD or the EUR and erode the gains made in USD or EUR when converted back to BRL.
- For example should you be living in Russia the same reasoning should be applied. To choose one of the major currencies will always be the safer choice but not necessarily the more profitable choice shall the RUB appreciate rapidly and greatly against USD or EUR. However please not that the profits generated by Captain Algorithm in USD or EUR will still be a net augmentation of your initial equity - i.e. a net increase in the capability of covering expenses in USD or in EUR but no necessarily in RUB.
- For example should you be living in Viet-Nam the correct decision will be to choose USD, EUR or JPY. The choice of one of the major currencies as the base currency for your trading account will perennially secure the growing of your initial investment.
> Of course when in doubt, the best strategy will consist in splitting your initial investment in different accounts with different targeted currencies as base currencies.
RISK WARNING : retail Forex and/or CFDs trading is a form of speculative investment and the risk of you loosing partially or entirely your investment exists.
Therefore trade only with the money you are willing to risk in order to earn financial gains with. Do not trade with money you cannot afford to lose. Captain Algorithm Co. being
a software provider will not accept liability for any loss or damage, including without limitation to, any loss of profit,
which may arise directly or indirectly from the use of Captain Algorithm software or reliance on any information provided by Captain Algorithm Co. relating to the use and/or promotion of its