Gun Posted June 10, 2007 Report Share Posted June 10, 2007 Sterling/US dollar intra-day * Underlying: sterling/US dollar * Time period: less that one day Provider: IG Index (FSB) - Interactive Investor (CFD) - Comdirect (Online Broker) For our first trade, I tried a quick foray into the foreign exchange markets. Speculating on the sterling/dollar exchange rate has been all the rage for a year or so now, ever since the surge in the FTSE 100 index lost momentum and began to drift sideways. Serious forex investors will probably have a specialist currency trading account with the likes of Oanda or FXCM. But spread-bets, CFDs and covered warrants have been very popular with private investors. I carried out a day-trade, backing sterling against the US dollar using an IG spread-bet account, an Interactive Investor CFD account and Comdirect as my covered warrant broker. I chose an SG June 2005 £1.85 call warrant because it had a good bid-offer spread and high enough gearing to turn a profit from a quick, but modest, rise in the underlying. http://www.investorschronicle.co.uk/Invest...ar-intraday.jsp Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.