HI Drahcir,
Caroline is correct, the currency market has it’s own exchange called forex (Foreign Exchange).
There are also ETF’s that mirror currency, but most of them are very thinly traded. One exception off the top of my head is the UUP — ProShares Bullish US Dollar ETF and it is widely traded.
Hope this helped!
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HI Drahcir,
Caroline is correct, the currency market has it’s own exchange called forex (Foreign Exchange).
There are also ETF’s that mirror currency, but most of them are very thinly traded. One exception off the top of my head is the UUP — ProShares Bullish US Dollar ETF and it is widely traded.
Hope this helped!
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I’m doing an assignment for Commerce, and i cant really find and information about it. So may someone please help me with this question. I would also like to know "examples" on this.
It may be where there are two types of currency. Like there used to be a financial rand and an ordinary rand in South Africa. The financial rand was used internally and was more valuable than the Rand that could be traded abroad. People used to arbitrage between the two (maybe buy trading SA shares in SA & in London) which in most cases was illegal. Not sure where this applies today.
Although I know the Iraqi Dinar was traded in UK on the black market (illegally)
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www.bkforexadvisors.com
boris schlossberg posts videos on youtube. they are very informative
investopedia.com is great for all kinds of trading info
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www.bkforexadvisors.com
boris schlossberg posts videos on youtube. they are very informative
investopedia.com is great for all kinds of trading info
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I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?
Yes you are supoposed to claim any income tha tyou receive on your taxes.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html
http://www.hrblock.com/taxes/tax_calculators/index.html
Christine
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I want to buy the Foreign Currency and Trade in india (daily Buying and selling), Is there any Restriction in that in RBI act or other Specified Act’s?
I do not know about the restriction but it is leagal. I am sure there are some restriction though.
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Yes but it’s a horrible place to do it. You won’t get good rates. Try finding a bank that will do it for you.
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Yes but it’s a horrible place to do it. You won’t get good rates. Try finding a bank that will do it for you.
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I would like to try currency trading. Should I contact, say for example, a bank in England to buy Pounds directly, or should I use an intermediary like Scott or Ameritrade?
There are many online forex trading companies you can try but at the same time there are many scam and phishing websites too. BEWARE!
You can install Calling ID in IE for verification. The site below has been verified by Calling ID as safe.
http://www.forex.com/pages/land-international.html
They even have risk free practice account where you can trade with virtual money before starting with real money. 
http://www.forex.com/uk/forex_demo_account.html
However need to warn you, forex trading is a very risky investment and highly speculative. It’s really meant for the professional experts. Unless you just want buy certain currency and keep it for mid or long term say 6 months to a few years and not trade daily.
In case you stumble upon this site, eToro, DON’T GO THERE!!!
http://www.etoro.com/
it’s rated as HIGH RISK by Calling ID. Owner hides it’s identity.
One more thing, don’t use too much leverage maybe only 2-3 times will do. Some allow leverage of up to 40 x which means if the currency move against you 1% you will lose 40% of your money. The higher the leverage the higher the risk!!!
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