Bank account for forex?
August 23rd, 2008
westphalia1 asked:
I opened a Bank stock trading account ( a custody account) in Iceland in June 2006. Purpose is to trade securities on the Iceland stock exchange. My deposit into the account was $191.00 (middle of June). In the middle of August my initial deposit was worth $209.00 I am not exactly sure what the interest rate might be but it is high. Regardless of how i approach my new brokerage account the underlying asset will be the currency (Iceland ISK). The custody account gave me the option of currecies to convert my US dollars from-To ISK or GBP or Denmark Krona, a few others. Any suggestions as to how i might play this account to my advantage to make a continuous profit just from the currency? Without trading stocks on that exchange? Thanks
KUPFER
I opened a Bank stock trading account ( a custody account) in Iceland in June 2006. Purpose is to trade securities on the Iceland stock exchange. My deposit into the account was $191.00 (middle of June). In the middle of August my initial deposit was worth $209.00 I am not exactly sure what the interest rate might be but it is high. Regardless of how i approach my new brokerage account the underlying asset will be the currency (Iceland ISK). The custody account gave me the option of currecies to convert my US dollars from-To ISK or GBP or Denmark Krona, a few others. Any suggestions as to how i might play this account to my advantage to make a continuous profit just from the currency? Without trading stocks on that exchange? Thanks
KUPFER