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:
Export data to CSV
Apply appropriate exchange rates
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:
Determine which exchange rates to use (daily rate, year-end rate, etc.)
Convert foreign currency transactions
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 →