Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Options to hold forex - Eg: USD

Reply
Highlighted
Contributor
Hi All. For a number of reasons (not the purpose of this discussion), there maybe a case to invest some forex, eg: USD. There are various avenues, example, opening a Global Account (FNB - R60 per buy / sell). What are the other options, the cost, and practically how can it be accessed?
0 Kudos
Reply
5 REPLIES 5
Highlighted
Frequent Contributor
You can use currency futures as well. For example, the $/R Mar-16 future at Standard Bank online. You will find it under "Instruments - currency futures". You can read about it under the Help menu.
0 Kudos
Reply
Highlighted
Contributor
thanks... Is ETN an option? how does it work?
0 Kudos
Reply
Highlighted
Contributor
Yes, have a look at the Newwave ETN products which give you access to USD,Euro ,GBP etc at the current spot rate without any gearing.
0 Kudos
Reply
Highlighted
Super Contributor
Cost doesnt seem to be a concern, punters must be desperados. Most of these are expensive as *****.
0 Kudos
Reply
Highlighted
Not applicable
there are honestly no instruments in South Africa for properly doing this, and no South African institutions that can give you a good deal. Buying foreign currency in South Africa and holding it is outrageously expensive, especially derivative instruments. Open up an offshore account if you can, or an offshore trading platform, and do it properly.
0 Kudos
Reply