Forex Exchange Info, Tips & Resources

Nayana asked:


Last time when I travelled to UK, I got back with me few pences and Pounds (coins). I wanna know where I can exchange them in India. I enquired in Forex, they said they dont take coins.
I have lot of such coins. Wanna know where I can get them converted to Indian Currency.

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ricks asked:


I want to buy foriegn currencies & already have an idea of which ones. I am not putting in a great deal (maybe $100 sporatically here & there, put in over time). Is it a good idea to go to a currency exchange place downtown & just buy it & let it grow, which it has & all indications show it will, even more & faster.

Most of those Forex (not bashing any trader or broker, thats just the most popular one that I see) type traders tend to have high minimums just like brokers in order to do business, plus fees. I know that exchangers have fees too, but considering that I cant get into the market any other way, what do you think?
Box815:
Thanks for the insight! I know that I would be up against issues like that, but what are the options, if any, other than doing that & not being able to do it at all, using the big currency brokers with high minimums?

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Bob asked:


If you buy 1,000 Euro at a local currency exchange with US dollars at a low price then sell it at a high price.

Will there be 3 time the amount of US dollars then?

Does the leverage in Forex is different than trading in local currency exchange?

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Amina L asked:


I am thinking about investing Forex kind of currency exchange on my own. How do I do that? I want to start with $100.00.

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BP asked:


I’m looking to trade on the Forex currency exchange but looking for a broker that deals with IRA accounts.

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