I've been given 10000 euros of cash to invest in shares and I live in the UK, I will have to give it back in a few years time in euros too. Should I exchange it to pounds and then exchange it back to euros when time comes and waste around 500 euros on the spread or is there another way?
Why do you think you'll waste 500EUR on the spread?
Assuming that the EUR sinks you should be able to triple your money just from the future exchange rate. :cheesy:
Investing in shares isn't a bad idea and many European companies are now cheap but I'm not across that particular market to give you much of an opinion.
Mining shares are my preference eg BHP and then energy stocks and banks (assuming you can find a safe bank....)
donaldduke
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Opening a euro based bank account and then a euro based brokerage account with someone like IB may do the trick. You can then convert to GBP or whatever currency with a much tighter spread from within the brokerage account. It will probably cost about $10 each way for the FX exchange.
Masquerade
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There's sites online where you can exchange it, Oanda being one of them.
I checked the OANDA currency converter and it says I will only lose around £1 which is great however what do I have to do to get the money converted? Do I need a trading account?
scose-no-doubt
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If it were me I'd put it all into hundreds of thousands of AIM listed penny stocks that aren't fully paid up.
scose-no-doubt
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Or use the 10k as a deposit for a mortgage on a small house, sell the house for cash and use the proceeds for an Indian term deposit and roll it over until you have to give the money back.
scose-no-doubt
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Whatever you do, stay the f*ck out of the markets cos you're gonna lose it.
Your tr0ll style looks familiar... lol
scose-no-doubt
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I'm not trolling, I'm being honest. This is the last place anyone should come looking for financial advice.
