The dollar has been tanking since the Bamster's shenanigans, now at $1.40/euro but it's still not at its low from a year ago, $1.60. Anyway, I've been looking at ways for a yank to buy Euros and it seems the easiest way is through Everbank. They have a 4 star rating and their foreign currency accounts are FDIC insured. Rates are a crappy 0.13% tho (for MMA, CDs are the same).
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posted: Jul. 3, 2009 @ 10:12p
sethdallob
Senior Member - 1K
posted: Jul. 3, 2009 @ 10:18p
Everbank is a good way to do it, but I'm sure there are more leveraged ways to do it, if that's your cup of tea. I'm too lazy to search, but I'm sure there are some leveraged Euro ETF's and mini-futures contracts with "more bang for the buck."
If you want to lose all your money in a short period of time, use leverage with your Forex "investments". If you want to lose all your money over a longer period of time, then dont use leverage with your Forex "investments"
heh, Greenspan was wrong about Irrational Exuberance when he brought it up. Euro zone has alot of economic problems that will not easily be solved by a perpetually strong currency.
raderator said: easiest way is through Everbank. Rates are a crappy 0.13% tho (for MMA, CDs are the same).As lampy mentioned, there's an ETF, ticker symbol FXE, that puts you in the Euro and pays interest. As you can see at www.currencyshares.com,, the current interest rate is 0.09%. Unlike an Everbank CD, you can get in and out easily with no terms or commitments, and no applications. The interest is paid in monthly dividends.
You might also consider the Australian dollar, ticker FXA, currently paying 2.45% interest.
Standard warning: You may lose money playing with forex
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