Currency Conversion & Forex
Learn how to manage multiple currencies and perform manual conversions in FundStat.
Auto-conversion (Simple)
For simple accounts with cash and auto-conversion enabled, manual currency conversion is not required. The app handles everything for you:
Deposits and withdrawals are only possible in the wallet's base currency.
All transactions (Buy, Sell, Dividends) are automatically converted to and from the base currency using real-time exchange rates.
Manual Conversion (Simple & Detailed)
In Simple (Cash) and Detailed accounts, you have full control over your cash balances in different currencies. This means you might need to manually convert currency to avoid negative balances.
Understanding Negative Balances
If you buy an asset in a currency you don't currently hold, your balance for that currency will become negative. This represents a 'loan' from your broker, which is common in margin accounts but might not be what you intended.
- 1. You deposit 10,000 PLN into your account.
- 2. You decide to buy $1,000 worth of Apple (AAPL) stock.
- 3. If you don't convert PLN to USD first, your account will show 10,000 PLN and -$1,000 USD.
How to Convert Currency
Currency conversion in FundStat is handled exactly like buying or selling any other asset. You use currency pairs as the symbol.
Finding Currency Pairs
Example Search:
US Dollar/Polish Zloty FX Spot Rate
FOREX
- Look for the (currency) label in the search results.
- These symbols are typically listed on the 'FOREX' exchange.
- To get USD using PLN: Search for 'USDPLN' and perform a *BUY* transaction.
- To get PLN using USD: Search for 'USDPLN' and perform a *SELL* transaction.
If you can't find 'PLNUSD', use 'USDPLN' and perform the opposite operation.
Need Help?
If you encounter any issues with currency conversion or have questions about how it works, our support team is here to help.