Investing in foreign currency.

[Fendle]

Have you guys ever tried investing in foreign currency, I was thinking about doing it but wouldn't know where to start. So if you have tried it feel free to tell me how you did it and what was the result was.

 

[hugo cabret]

what do you mean by this exactly? sry im trying to learn

 

[Fendle]

what do you mean by this exactly? sry im trying to learn

Buying a different currency from where you are from then selling it when it is worth more and make a profit.

 

[hugo cabret]

kk thanx, but it seems like it would rarely work because of inflattion

 

[Stormstruck]

you can start at forex. They trade currencies (much like banks trade shares). I thought about buying some USD since my currency is so strong and will most likely drop. But didn't have the spare cash, or time to really look into it. It can be rewarding but you have to really know about the global financial state. A lot of reading the media and research is needed. Also look out for scams, i know there's a massive scam in australia where a company asks you to buy a 'package' for $1-5k and they you watch them trade and follow their every step to make crazy profit margins - load of garbage.