How can i invest in currency's around the world without a broker?

Answer 1

I had this wonderful idea several years ago. Argentina's currency was also called a dollar, but it was suffering from hyperinflation. You could get an Argentine million-dollar bill for something like $30 US. I thought it would be fun to say, pointing to the framed bill on the wall, that I'm a millionaire. But when I called the bank to order it, I was told that Argentina had just that week reworked its currency.

I said that to say this, call you bank (especially a big bank) and ask them to get you some. The other way, is hop a plane and go to the currency exchange booths or, better, a bank at your destination, and simply exchange some dollars for whatever.

Currencies are not a slam dunk, however. I traveled to Bulgaria a few years ago. When I got there I exchanged some of my dollars for Lev. When leaving, I discovered I had a bunch of Lev left over, but the exchange booth at the airport was offering aweful exchange rates compared to where I had traded before. No problem, I exchange it when I get to London on the way back. Problem, big problem, no one in London wanted my Lev. This is not a slam against Bulgaria, Romania the former Warsaw Pact neighbors were all worse off, especially then--if you offered me a ticket to Mexico City or Sophia (Bulgaria's capital) I would take Sophia without a moment's hesitation. Still, the US dollar is not quite the used-toilet paper that some people talk it up to be. Lots of currencies are in economies with dismal prospects. The euro seems to be highly favored above the US dollar right now, but the US economy is miles above almost half of the European Union members rates by almost every indicator measure.

These direct currency dealings, however, miss what the currency trading markets offer--leverage. Buying at the futures exchanges gives you leverage. You are buying hundreds of thousands or millions of whatever with a little money down (margin requirement). Even if you got one of those "fly to europe for $99" deals, the brokerage fees at the exchanges is far, far less. So get a broker and pay a little for a lot more action, because doing it yourself just isn't worth it.

Answer 2

Don't. It is a speculative investment and the fees associate with money changes eat up any hope for profit.

Invest in real investments - mutual funds!!

Answer 3

You should have a good knowledge about Forex Trading before you can do that . Its not very hard if you have the right knowledge and skills .

Answer 4

You could hire at least two Flight Attendants.

Answer 5

Good luck, if you find one. If you do, don't complain when you lose all your money.

Answer 6

no