Question by ScreaMn: Would I make funds by converting AUS bucks to US bucks?
The Australian dollar is greater then the US dollar proper now and I was pondering would I make cash by converting AUS$ to US$ without any charges applied and once the US$ is greater yet again convert it back leaving me with much more funds each time I convert them, correct?
Also what kind of bank account would I need to have to do so?
Reply by Mohammad
1. If exchange rates change as per your expectations, you will stand to gain.
2. But, what if issues go not turn out as per your expectations. Then you will endure a loss.
three. There are persons who trade in foreign exchange with the aim of generating revenue. But, there are odds of generating losses also.
four. You can trade in foreign currencies via a forex broker. You will need to have a present account in nearby money. You will also require foreign currency account to hold your purchases of foreign currency.
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