Anyone know anything about investing in foreign currency?

[jokerman93]

My girlfriend is interested in buying Chinese Yuan. Anyone have any links or suggestions on getting up to speed on how the currency market works?

Many thanks in advance!

:hi:

[T Roosevelt]

1. Post this in the Economics forum

You might have better luck...

[Braden]

2. try here

http://www.oanda.com/

but be forewarned. there are plenty of fx exchanges who charge exorbitant fees for transaction costs. you can buy options or buy money directly.

Currency is traded around the clock around the world. money never sleeps as michael douglas once said.

I might contact someone at my bank if I were you, although I have never seen Yuan quoted from the bank I am sure they can help you out.

[jokerman93]

3. Thanks for the info!

And I'll post this to the economy section too. Thanks again!

[judge_smales]

4. Sorry,

Never had a Yen to do it. (HAHAHAhahahahahahahahaah)

[TreasonousBastard]

5. Unless she's got a LOT of money...

the transaction costs will probably kill any gains she might make. Like commodities, the real traders make pure profit off of small or retail investors. They won't let you have the going rate, and they charge huge fees for the privilege. And currency trading is every bit as scary as commodities trading. Maybe scarier.

Anyway, if she's really, really interested and has nerves of steel, here's a few places to start:

http://www.2x3cp.com/trading/50/yuan-currency-trading.html

http://www.x-rates.com/d/CNY/table.html

http://www.cmcgroupplc.com/us/forex/home.jsp

http://www.business.com/directory/financial_services/investment_banking_and_brokerage/sales_and_trading/foreign_exchange/

But, don't stop there. Find someone trustworthy with some actual experience in small currency trading.