Multi Currency Account as an investment?
470026
If you are interested in investing in currencies, I work for a Wall St. based firm that specializes in the forex market. To answer your question, the chance of you making a significant return (Over 8%) is not likeley in the bank. It is with a multi-currency forex fund however. Please email me for more details.
328304
My impression is that they are all scams.  It is just not possible to offer interest rates like that.  I certainly wouldn't invest in one outside the U.S., because it would be hard to get your money back when they steal it.  But I wouldn't invest in one inside the U.S. either.  Here is a government website about these scams:
349726
A money market account is essentially a fixed income mutual fund.  The difference, is that all investments have extremely short maturities.  Depending on indicated investment style, the accounts can invest in just about any fixed income instrument - CDs, commercial paper, bankers acceptance notes, mortgages, bonds maturing less than a year from now, etc.\n\nSince the investments are extremely liquid and short-term, which makes them pretty safe, your interest yield will be very low.  That's the bad news.  The good news, is that the share price rarely fluctuates by much (for the same reason) and, if you invest in government debt money markets, your returns can be tax-free.
190710
Put it in a CD until you have $ 10,000 to invest in Exchanged Traded Fund
1027351
I see two opportunities currently, the Chinese market and metals. For specific currency, investing in the Chinese Market is a great route; this is a boom economy and will be a major superpower/economic power in the future. \n\nAn even better choice would be to change the money into metals, such as gold or silver. As inflation increases and the US dollar decreases, it would be a solid investment to put your money in metal. If I were you and had only $1000, I would invest in silver. I have actually bought silver over the Internet from an exchange and seen a return within the last year.
1101817
Only if you wish. Swiss banks offer you accounts in any convertible currency.\n\nYou just have to be aware of some fees, for example 0,5% will be charged when paying in or withdrawing foreign currency in cash of the corresponding account.\n\nGreetings from Switzerland
926533
no matter what currency..See what your country's currency equals in the UK. Is going to be enought to cover what you want or are u just depleting an account or just transferring money for whatever reason...I would say have the transfer made in UK currency..Otherwise you would have to convert it to use it...let them do it and now you know exactly how much UK money u have..Just a suggestion...Good Luck
123808
I don't see why not.\n\nIf there is a multinational broker in Nigeria, its more than likely that you can go through that avenue to invest in the UK stock market.\n\nOr you may want to contact a broker in the UK directly and ask if they accept international accounts. If they do you probably need to show a bit of green (money) for them to take you seriously.
119755
For anyone to tell you whether or not it is wise for you to invest in a CD is ridiculous without more information.\n\nAssuming you have other investments in your portfolio and are simply trying to decide how to invest the portion of your portfolio that you have already determined should be in cash equivalents, then CD's can be considered. It sounds like you want to retain a high degree of liquidity for this investment. If this is the case, consider the money market. Seek an institution that consistently offers great rates. Watch out for smaller banks that come out of nowhere with a sepcial or introductory rate. I use ING Direct, but I have heard good things about HSBC direct also.\n\nIf you have not done an asset allocation yet, do that first before deciding how conservative or aggressive to be. Speak with a financial planner in your area.
647005
If there are, I am not aware of them. You do have other options that you might consider, if there are in fact none. One is to invest in either a mutual fund or a closed end fund that invests in European stocks or Asian stocks. A couple of closed end funds that you might consider are TDF, investing in Chinese stocks and SWZ investing in Swiss stocks. \n\nIn my opinion, doing so has some advantages over investing in currencies. One is that they pay a dividend and secondly they are also tied to the prospects of the companies that they invest in. Whereas investing in just the currencies, the prospects are tied just to the currencies. \n\nThe two I mentioned are just as examples and not necessarily recommendations. Another example is GIM, a closed end fund that invests in foreign debt instruments. The advantage of that again is dividends plus avoiding the dollar.
102174
Yes (Just open an account in ameritrade.com)
1115951
Easily, you can move your account to either a brokerage firm or mutual fund company.  The bank can do that too (most have their own brokerage firm) but a bank broker is going to have fewer investment options.\n\nBut before you do that, do some homework.  Go buy "Investing for Dummies" and learn how to choose your investments.  You can't trust your friends (and not these boards for sure) to pick your investments.  You can hire a pro, and it is worth it if you have a large account, but for little investors, the cost of that help gives you noticably less to invest (advice isn't fee), so it is good to start out on your own.\n\nAs to stocks and bonds vs funds, stick to funds until you have at least $50-100K.  It is almost impossible to build a good portfolio with individual securities with less than that.\n\nand to your last question, \n\na mutual fund is a professionally managed portfolio of different securities.  They can hold stocks only, bonds only, a mixture of both and other types of securities.\n\nInstead of you trying to buy all those different securities you need to design a good portfolio, the fund has done it for you with your money and the money of other investors.  You buy shares in the fund instead.\n\nThis gives you the same risk/reward potential as a bigger investor.
765911
I have been consistently getting about 800% returns per annum (on a £1000/- initial investment - as that was the max I was ready to loose). After 1 year, my balance was £7600/- after withdrawing my initial £1000/- at month 8.\n\nThis was possible by playing the Forex Market at very low risk on the GBP / Yen Exchange rate only. If you are a very systematic person and can control the risk taking urge, you make money. Once you loose the control, you loose your money. What I do is I just do a One Touch over 180 days which are the lowest the system will allow. One of my current investments is as follows:-\n\nOne Touch: Win GBP2000 if, at any time before midnight GMT on 16-MAR-07 [inclusive], GBP/Japanese Yen touches 223.7. \n \nTrade price was GBP1812 (=90% of payout). \nPayout is GBP2000 (=1.1 times trade price). \n\nThe current price of GBP/Japanese Yen is 223.11\nThe market price of GBP/Japanese Yen at the time of purchase of the bet was 222.78 (on 16-Nov-2006)\n\nThus over a period of max 15 days, the rate will be touched and I will get a profit of £188/-. This will be added in my account. The quickest profit has been in 2 days previously and the longest have been 20 days. This is very low risk. I do not understand how they can afford that. We need to take care that the bet is placed when the daily trend is downwards. It works but only if we do not become gready.\n\nDo register and try them out. They also give you £10/- free (after 15 days when you have done your address validation). So you can play and try with that amount and later inverst only after you are sure. Minimum investment to make a return ae about £9.20 pence so you may initially make only 80 pence or so profit every few days if you do not put in any of your own money. I enclose my referal link but I will not earn any referal commision if you follow my strategy as they give a commision only if the payout is greater than 80%.\n\nWell best of luck
1093901
Use a big brokerage firm like Goldman Sachs or Lehman Brothers.  They should have a foreign exchange desk.  Just give them a call and ask them.
431433
This depends on the current political/economic welfare of the country that distributes each currency.\n\nFor instance, when the U.S. overthrew Saddam Hussien, the worth of the currency in Iraq dropped drastically.  Therefore, it was a great time to purchase Iraq currency, because from that point on it could only go up in value.  There are not many U.S. banks that exchage their currency with U.S. currency, however.  \n\nI guess my first statement probably answered your question the best.  It would take a little research to learn if you would earn anything on these exchanges.  It's kind of like the stock market - you have to know when to get out.
408197
I would suggest not getting a trading account until you learn what these terms mean.  Also never open a trading account in a foreign country.  You may never get your money back.
893822
You should be aware that, if you chase high interest rate across national borders, you are engaging in currency speculation.  Because of that, you could get a fantastic interest rate, and actually lose money.\n\nMake sure you know what you are doing.