Lux Investing
Canadian option for investing in Britain?
I am planning on moving to Britain in about 6 months and want to transfer some of my savings into pounds to hedge against currency movement. I'd like to be able to invest in a UK money market fund or GIC or something like that. My current investment account (through Royal Bank) doesn't seem to allow me to do this. Are there any options out there for me to do this?
Public Comments
- Yes there are ways to do that. One of which I can suggest is to open a currency trading account and select no leverage on your account. That way you don't have to buy any investments to convert your money, just invest in the currency of your choosing. When you want to switch it back you just exit your position, this saves you the fee that banks will charge you to convert cash. You will profit if the pound has increased in value while your money was traded. When you want to take the money out of the account there is no fees, penalties, or problems of liquidity as there currently are in the money markets. If you visit my site you will find a few companies which will allow you to open an account with no leverage and let you the convert back and forth till your hearts content. http://www.forextradersinc.com
