How To Invest in Foreign Currencies

How To Invest in Foreign Currencies Video Clips. Duration : 2.38 Mins.

Check out this cool app and learn guitar - howc.stExpand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from mayumisato and more videos in the General Investing category. You can contribute too! Create your own DIY guide at www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com As with any investment, putting your money in foreign markets requires due diligence and the willingness to take risks. To complete this How-To you will need: Research A brokerage or PayPal account A bank that deals in foreign currency A foreign currency Certificate of Deposit A Forex online account Step 1: Know the risks Know the risks. Trading in foreign currencies can be very profitable if you stay on top of the global economic market. But if you don't have the time or desire to do that, it also can be very risky. Step 2: Do your homework Do your homework. Research the financial strength of various nations so you'll have an informed opinion as to whether their currency will strengthen or weaken. Step 3: Open an account You can invest in foreign currency using a brokerage account, if you have one. If you have a PayPal account, hold funds in multiple currencies at no charge. Or find a bank that allows customers to keep foreign currency accounts. Tip: Some banks offer FDIC-insured foreign currency accounts; this protects you up to a preset amount if a foreign bank goes bust ...

Keywords: finance, money, business, investing, foreign, currencies, markets, stocks, Howcast

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Posted in: currencies,Foreign,invest