Understanding Currency Handling

If you trade in multiple currencies—USD, EUR, GBP, and others—it's important to understand how the platform handles them.

The Core Principle

The platform tracks each currency separately and does not automatically convert between currencies.

This means:

  • USD transactions stay as USD

  • EUR transactions stay as EUR

  • They're reported separately, not combined

Why No Automatic Conversion?

Exchange Rates Fluctuate

A EUR payout converted to USD would have different values depending on when you check. Which rate should the platform use?

Accuracy Over Convenience

Converting currencies introduces potential errors and debates about which rates to use. Keeping them separate ensures accuracy.

Tax Implications

Your tax jurisdiction may have specific rules about currency conversion. Automatic conversion might not match what your accountant needs.

You Can Always Convert Manually

If you need a combined number, you can export data and apply your own exchange rates.

How Multi-Currency Appears

On the Dashboard

KPI cards show breakdowns by currency when expanded:

Total Money In ├─ USD: $15,000 ├─ EUR: €5,000 └─ GBP: £2,000 

In Tables

Each transaction shows its native currency. A payout in EUR shows as "€5,000" not "$5,500."

In Reports

Reports group by currency:

USD Section: [USD transactions] Total: $15,000 EUR Section: [EUR transactions] Total: €5,000 

Currency Filters

The Dashboard and other pages have currency filters:

  • All Currencies — See everything (grouped by currency)

  • Specific Currency — See only USD, only EUR, etc.

Filtering to a single currency hides other currencies from view—it doesn't convert them.

Setting Currency on Transactions

When you create any record, you specify its currency:

  • Challenge purchases: Currency of the challenge account

  • Funded accounts: Currency of the funded account

  • Payouts: Currency you received

  • Expenses: Currency you paid in

  • Private accounts: Account's base currency

Important: Currency typically can't be changed after creation. Select correctly upfront.

Multi-Currency Business Health

With multiple currencies, your business health is actually several separate pictures:

USD Business:

  • USD payouts: $15,000

  • USD costs: $8,000

  • USD net: +$7,000

EUR Business:

  • EUR payouts: €5,000

  • EUR costs: €3,000

  • EUR net: +€2,000

The Dashboard may show overall status based on aggregated currency trends, but the detailed breakdown shows each currency separately.

Challenges with Different Currencies

If you have a EUR challenge account that converts to a EUR funded account:

  • Challenge cost: Recorded in EUR

  • Payouts: Received in EUR

The entire lifecycle stays in one currency.

If you have challenges in multiple currencies, each is tracked in its native currency.

Private Accounts and Currency

Each private account has one base currency. All transactions (deposits, withdrawals) are in that currency. P&L is calculated in that currency.

If you have accounts in different currencies:

  • IC Markets USD account: P&L in USD

  • Pepperstone EUR account: P&L in EUR

Practical Tips

Check Currency When Filtering

If numbers seem low, make sure you're viewing "All Currencies" and not filtered to just one.

Record in Native Currency

Record transactions in the currency they actually occurred in. If you paid in EUR, record EUR.

Consider Currency When Analyzing

A €5,000 payout and $5,000 payout aren't the same value. Be careful when mentally combining multi-currency totals.

Export for Manual Conversion

If you need a combined total in one currency:

  1. Export data to CSV

  2. Apply appropriate exchange rates

  3. Calculate your combined total

Currency and Taxes

Your tax jurisdiction may require reporting in your local currency. The platform's multi-currency data gives you the raw numbers; you'll need to:

  1. Determine which exchange rates to use (daily rate, year-end rate, etc.)

  2. Convert foreign currency transactions

  3. Report appropriately

Consult a tax professional for guidance on currency conversion for taxes.

Common Questions

Why can't I see a total of everything? Combining $10,000 + €5,000 isn't meaningful without conversion. The platform keeps them separate for accuracy.

Can I change a transaction's currency? Typically no—currency is locked. If wrong, you may need to delete and recreate.

What if I receive a EUR payout but my bank converts to USD? Record the payout in EUR (what you received from the prop firm). The bank conversion is a separate event.

Should I use the platform's currency or my bank's? Use the original transaction currency. If the prop firm pays you in EUR, record EUR—even if your bank converts it.


Next: Payouts vs. Refunds vs. Income