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Options to hold forex - Eg: USD

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Limitless
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?
5 REPLIES 5
EkisDoep
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.
Limitless
Contributor
thanks... Is ETN an option? how does it work?
leoridge
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.
koos2
Super Contributor
Cost doesnt seem to be a concern, punters must be desperados. Most of these are expensive as *****.
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.