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Topic

Yen Account FX

Question
#1
  • FX円
  • mail
  • 2021/11/04 15:43

I would like to buy Yen and hold it for the long term. I heard that one bank in the U.S. can open a yen deposit account, but the exchange commission is quite high, so I am considering FX.

The only foreign exchange investments at my current brokerage firm are ETFs. Any recommendations for trading Forex, or any suggestions as to why Forex is not a good long-term investment?

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#2
  • FXLV
  • 2021/11/04 (Thu) 16:44
  • Report

Is it wrong to leave yen in a Japanese bank account ？ If you don't have a bank account in Japan, I thought the best bank to do that over here. With FX, you mean shorting dollar-yen for a long time. If the dollar appreciates, you will be charged interest every day.

For US FX brokers, Forex.com, OANDA, or IG. You can also open offshore if you are OK with high risk.

> The only foreign exchange investment at my current brokerage is ETFs

Where is this ？ There is TDAmeriTrade that can do both stock trading and FX, though I would not recommend it for FX.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#4
  • FX円
  • 2021/11/05 (Fri) 09:18
  • Report

I am not a resident of Japan, so I cannot open an account in Japan.
I thought there was a Japanese Yen ETF on Fidelity's page, but I can't find it now. I thought there was a Japanese Yen ETF on the Fidelity page, but I can't find it now. It seems that only investment in foreign currency is available.
I will try to open an account with a FX broker with a small amount.
Thank you very much.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

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