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Trade with the bank without negative swap

  • #1
  • First Post: Jun 25, 2007 5:12am Jun 25, 2007 5:12am
Hello,
i read some bank addvertising, they allow us to open multicurrency account

imagine, ,,, go to ATM / online/ telebanking, transfer our money into diffrent currency,,, back and forth.......
anyone do it? maybe in more efficient way>??

basically it is saving with foreign currency,,, i think it is great for long term..
  • #2
  • Jun 25, 2007 6:17am Jun 25, 2007 6:17am
Quoting Gwan
Hello,
i read some bank addvertising, they allow us to open multicurrency account

imagine, ,,, go to ATM / online/ telebanking, transfer our money into diffrent currency,,, back and forth.......
anyone do it? maybe in more efficient way>??

basically it is saving with foreign currency,,, i think it is great for long term..
I wouldn't recommend it .. if you think some of the 6 point spreads are bad ... call up your bank and you will find out what bad really is.

Most banks, like mine, usually set their rates once a day at head quarters, and depending on various factors (volatility, etc.) the spread can be really huge so that they are safe from any possible hedge through out the day.
Any idiot can take profit, real traders know how to take losses!
  • #3
  • Last Post: Jun 25, 2007 7:27am Jun 25, 2007 7:27am
Quoting bmchunu
I wouldn't recommend it .. if you think some of the 6 point spreads are bad ... call up your bank and you will find out what bad really is.

...so that they are safe from any possible hedge through out the day.
thank you,,,, the spread may x4 to 10 the normaly we saw in platform, but there is no negative swap and if possible....we can synthesis the pair in mid way...
eg: buy yen,,,, then convert it to gbp, then convert it to cad, ect ect

somehow it is interesting but far away from retail to gives enough effect for the effort
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