Base Currencies

PropReports tracks an account's balance in a single currency. This is referred to as a Base Currency which is set upon account creation and defaults to USD.  

To view an account's base currency, navigate to the Accounts / Overview page. 

 Note: If an account has any adjustments with an offset account, the base currency can not be changed.  This is because PropReports does not currently support adjustments between two accounts with different base currencies.

Fees

All adjustments and recurring fee plans are assumed to be in the base currency of the assigned account.  For example, posting an adjustment of 100.00 will credit $100 to a USD account and ¥100 to a JPY account.

Trade fee plans and imported trade fees are also assumed to be in the base currency of the account.  For example, a commission plan of 0.0001 / share will post $0.0001 / share to a USD account and ¥0.0001 / share to a JPY account.  When trading an instrument whose currency differs from the base currency of the account, all fees and adjustments applicable to the trade are still applied in the account's base currency.  

Trade Profit or Loss 

If trading an instrument whose currency is different from the account's base currency, any realized profit or loss is converted to the base currency using the current spot rate.  Open positions will remain in the currency of the traded instrument with the unrealized profit or loss converted to the base currency using the current spot rate.

Spot exchange rates can be adjusted just like closing prices for securities. Navigate to the Audit / Close Prices page and use the search tool to find the f/x rate you are looking for:

 Important: Updating a spot rate will recompute any accounts with that base currency or that have traded any instruments in this currency on that date.

For more information on how to adjust closing prices and spot rates, please click here.