Every Retail broker, that I know of, lets you open a position on one pair and you can only close it on the same pair.
E.g. If I go long on EUR/USD, then I can only close this position by going back short on the same trade.
Is it possible to place trades with any one retail broker, such that I go Long on EUR/USD, and then the amount of EUR I hold, I can convert that into CHF by going short on EUR/CHF, and then converting my CHF holdings back to USD by going long on USD/CHF?
Should it be possible to do that as I'm only converting one currency to another?
Why is it that most of the retail brokers won't allow such trades?
P.S. for those who might be wondering... I'm not trying to arb the market or broker by running Triangular Arbitrage.
E.g. If I go long on EUR/USD, then I can only close this position by going back short on the same trade.
Is it possible to place trades with any one retail broker, such that I go Long on EUR/USD, and then the amount of EUR I hold, I can convert that into CHF by going short on EUR/CHF, and then converting my CHF holdings back to USD by going long on USD/CHF?
Should it be possible to do that as I'm only converting one currency to another?
Why is it that most of the retail brokers won't allow such trades?
P.S. for those who might be wondering... I'm not trying to arb the market or broker by running Triangular Arbitrage.