| What’s a good place to invest in Currency exchange ?

What’s a good place to invest in Currency exchange ?

Whitman Lam asked:


I’ve noticed the Japanese Yen has gained a lot of value recently. So I thought it would be a good investment. I wanted to trade in some US Dollars for Yen at the bank, but the banks charge huge exchange fees.

What is a better way to invest in foreign currency ?

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Comments

6 Responses to “What’s a good place to invest in Currency exchange ?”

  1. Paul T on October 18th, 2009 6:54 am

    Don’t… the global economy sucks.

  2. astcell on October 21st, 2009 11:53 am

    You can invest online at.

  3. diego ribas on October 21st, 2009 2:39 pm

    well you can do it anywhere

  4. M dub on October 24th, 2009 6:48 am

    For small amounts, i don’t know of an way where the commission (or spread) will pretty much eat your profits on a cash trade.

    If you have $10k you can afford to lose, open up a brokerage account and buy some JPY options or futures. One futures contract requires about $6k of initial margin and around $4k of maintenance margin (how much you can lose before you have to pony up more margin)

    It allows you to control JPY12.5 million worth of currency with nothing but a backup cash “margin” i your account. Likewise you could buy some not too far out of the money currency options too. Many online brokers offer these kinds of trades for trading on commodity exchanges, but you do have the potential to lose of make a lot of money so do your homework!

  5. Investor Monkey on October 25th, 2009 3:56 am

    dude lam…lol

    wrong site to be asking these questions imo

    sign up at this fx forum (almost a million traders active)

    free registration is on the left side..

  6. mikefromspace on October 27th, 2009 6:44 pm

    ForexKiller is best. Got lots of email info I can forward u on that if you like.