Is it possible for me to open an investment account in the USA? I wish to purchase dollars and interest rates in the USA of 5.25% look encouraging.
As the pound is now worth over $2 is it a prudent investment to buy dollars in the expectation that that the value of the pound will fall? Looking at historical data the pound has been worth less than $2 since 1976. In 1981 the pound was strong (almost = $2.5) but by 1985 it had dropped sharply to almost £1 = $1. I'm thinking the exchange rate is due a correction in time...
2007-07-13 10:26:40 · 5 answers · asked by Kurt 3 in Business & Finance ➔ Investing
+ I live in the UK
2007-07-13 10:37:00 · update #1
+ I'm no big time investor. I have around £2000 to invest.
2007-07-13 10:37:53 · update #2
With GBP 2,000, you are not likely to ignite a lot of interest in the U.S. Most U.S. financial institutions would not open an account for a foreign customer, unless the customers has USD 5,000 - 10,000 to invest.
What you might want to do instead is to look closer to home and find a financial institution in the UK (or in another EU country) that would assist you in investing in the U.S. Large British (and Dutch) banks offer accounts denominated in foreign currencies (including U.S. dollar). There are unit trusts available to UK residents that invest in U.S. stocks and bonds. Martin Currie, Old Mutual, and quite a few other companies offer funds that invest predominantly in the U.S.
2007-07-13 12:30:17 · answer #1 · answered by NC 7 · 1⤊ 0⤋
I'm assuming from the question that you are from the UK. Have ou considered opening an account locally that is denominated in US dollars? Eurodollar rates are higher than domestic US rates because of US regulatory reserve requirements. You may not be able to do this on the high street, but at some clearing bank with an international business.
2007-07-13 10:33:01 · answer #2 · answered by Ted 7 · 1⤊ 0⤋
as long as you can provide the sufficient information (such as a valid id, utility bill, and the rest stuff), you will then be asked to sign on a w-8BEN and sign some of the broker's papers and you're done.
you will then have an investment account in the USA...
the next stage woulf be to buy the relevant instrument to provide with you the interest (and hopefully the upside)...
2007-07-13 10:32:55 · answer #3 · answered by cohenmichali 1 · 0⤊ 0⤋
i've got been with... various banks, in various states. Everytime I flow, I ought to alter, through fact i haven't enjoyed the regulations of the great, national banks, jointly with economic company Of usa.
2016-12-14 08:02:06 · answer #4 · answered by ? 4 · 0⤊ 0⤋
1) Yes.
2) Yes.
3) No.
2007-07-13 13:09:40 · answer #5 · answered by Anonymous · 0⤊ 1⤋