XM, the Cypriot Forex broker, has announced the addition of the Russian ruble (RUB), Polish zloty (PLN) and Hungarian forint (HUF) to its list of base currencies, in a move further beefing up the capabilities of its clients to comfortably manage their accounts.
As you probably know, the base currency is the one used for accounting purposes – all of your transactions regarding your trades and trading account will be converted into the base currency you choose. One of the big advantages of opening an account with an exotic currency is the fact that it may be the currency of your homeland – albeit depreciated or lacking global dominating status, it's the currency you're used to. Hence, when you earn (or lose), you'll have an adequate idea of how much exactly you've earned (or lost) – and all of the calculations will be easier for you.
When coupled with the various deposit options
that XM offers – including the opportunity to fund your account thanks to methods specific for Russia, Poland and Hungary, introduced last month, trading in the foreign exchange markets ceases to be that foreign. Clients of the broker can now use funding methods like MONETA and QIWI – especially suitable for Russian traders; the voucher-based ABAQOOS for clients in Hungary, and the PRZELEWY24 online wallet for those in Poland. There you go – you can perform all of the operations with your account with your local currency.
You can use the three additions as base currencies for all types of accounts that the FX broker offers: Micro, Standard and Executive. The RUB, HUF and PLN join the ranks of other six base currencies on the line-up by XM: the USD, EUR, GBP, JPY, CHF, and AUD. Choice is yours!
XM.COM is a registered brand name of Trading Point of Financial Instruments Ltd, a European regulated financial institution licensed by CySEC. Trading Point of Financial Instruments Ltd operates online services for trading on forex, precious metals, equity indices, and energies in compliance with the Markets in Financial Instruments Directive (MiFID). Trading Point is EEA authorized and registered with the FCA UK (previously FSA UK), BaFin (Germany), AFM (Netherlands), CNMV (Spain), FI (Sweden), and FIN (Finland).