Maybe we can still archive success. Here is an experiment:

Make a trade with 100K units of EUR/USD on a fxcm euro demo account. Lets suppose you make +15 pips on this. Your PnL will be $150. These $150 will then be automatically converted to Euro with the actual excahnge rate at 1.2960 (current rate) - so PnL will show up in your account report with $150 / 1.2960 = €115.7

This isnt rocket science and can easily be verified with a few clicks.


Here is another way to put it: Say you buy 100K units of eur/usd at 1.2500. That means you have now a credit of 100K EUR and a debit of 125K USD. Now you are in luck and the eur/usd exchange-rate rises to 1.2550 and then you sell 100K units of eur/usd to go flat which essentially means you exchange your 100K Euro credit into USD with a rate of 1.2550 to repay your 125k USD debit. For your 100K Euro you now get 125500 USD - so $500 are left over, which is your proft. Now these $500 will be converted to Euro at a rate of 1.2550 (~€398).

You could ovserve the actual currency balances with (for example) an oanda demo account, they do list the exposures in their platform. But no matter if you express this in floating pip values or any other representation, this is how it works, and has always worked in fx.