Hi all,
I have good idea to start business in my country.
I am from Georgia, its national currency is Lari - GEL,
Spread in EURGEL is on an average 200 pips!!!! yeah
Also it is prohibited to make operations in EURUSD directly. Transaction should take place through GEL, thus for EURUSD spread widens and is over 250 pips !!!!
I know what one commercial bank is doing.
When there is big client requiring EURs vs GEL, bank is buying EUR vs USD in interbank market from Commerzbank mainly where spread is 3-5 pips. Here in Georgia bank is buying dollars vs GEL paying over 25 pips, so with over 30 pips bank buys EURs vs GEL and client pays over 150 pips (VIP clients).
SO I thought I could do so too, It could be good business,
So my question is what is spread in EURUSD in your countries? If I open account abroad and make operations like that. Also are there any special brokers which allow operations like that. I mean can I buy EURs vs USD and withdraw it.
Idea is good, I can invest good deal of money, I need just find out what can I do.
So any feedback would be appreciated
I have good idea to start business in my country.
I am from Georgia, its national currency is Lari - GEL,
Spread in EURGEL is on an average 200 pips!!!! yeah
Also it is prohibited to make operations in EURUSD directly. Transaction should take place through GEL, thus for EURUSD spread widens and is over 250 pips !!!!
I know what one commercial bank is doing.
When there is big client requiring EURs vs GEL, bank is buying EUR vs USD in interbank market from Commerzbank mainly where spread is 3-5 pips. Here in Georgia bank is buying dollars vs GEL paying over 25 pips, so with over 30 pips bank buys EURs vs GEL and client pays over 150 pips (VIP clients).
SO I thought I could do so too, It could be good business,
So my question is what is spread in EURUSD in your countries? If I open account abroad and make operations like that. Also are there any special brokers which allow operations like that. I mean can I buy EURs vs USD and withdraw it.
Idea is good, I can invest good deal of money, I need just find out what can I do.
So any feedback would be appreciated
kiss the trend