Cyclone Posted June 21, 2016 Share Posted June 21, 2016 Does anyone know of a convenient online service to buy a short position in the Eur against GBP? Ideally one with a minimal transaction fee and entirely online setup... Link to comment Share on other sites More sharing options...
geared Posted June 21, 2016 Share Posted June 21, 2016 IG.com might be worth a look. Personally I'd be betting on the FTSE rising sharply (if/when we vote remain) but I'm not sure I've got the stones to place a bet. Buying a lottery ticket is as far as my gambling career takes me. Link to comment Share on other sites More sharing options...
Cyclone Posted June 21, 2016 Author Share Posted June 21, 2016 (edited) I already have a ftse tracker through my SIPP, but I don't think the SIPP will allow me to play currency speculation games. ---------- Post added 21-06-2016 at 13:36 ---------- https://www.etfsecurities.com/retail/uk/en-gb/products/product/etfs-short-eur-long-gbp-urgb-lse This might work. ---------- Post added 21-06-2016 at 14:01 ---------- Which could be bought here http://www.iii.co.uk/investment/detail?type=chart&display=chart&code=cotn%3AURGB.L&it=letf&timeframe=1m&index=&versus=&linetype=line&Go=Plot+&overlay=&overlay2=&overlay3=&overlay4=&indicator=&indicator2=&indicator3=&indicator4=&chartwidth=500&buylines=on&triggers=on So the price listed there is in pennies, £50/unit approx. £10 per transaction charge though. So.. It's gained 4% in the last week. To cover the £20 transaction fee (buy/sell) then you'd need to have invested £500... And you'd only break even at that point. It's less risky than a bet, but you could potentially make the same gain with a bet by risking a lot less (although the risk is higher, either win, or lose it all)... Ladbrokes are offering 2/9, bet £90, get £110 back if we stay. Ah well, maybe I'll just watch the value of that ETP and see what I could have made :-) Edited June 21, 2016 by Cyclone Link to comment Share on other sites More sharing options...
Solitaire Posted June 21, 2016 Share Posted June 21, 2016 Does anyone know of a convenient online service to buy a short position in the Eur against GBP? Ideally one with a minimal transaction fee and entirely online setup... There are various brokers who'll allow you to do that: IG Index, City Index, CMC Markets and FXCM to name but a view. I speculate on indices and have accounts with IG and City which I've found perfectly OK. Best wishes, S Link to comment Share on other sites More sharing options...
Bob Arctor Posted June 21, 2016 Share Posted June 21, 2016 On a related note, I've often wondered who short sellers borrow shares from to take a short position with. Who would loan someone shares if it means the share price is likely to go down? Won't the lender lose on the deal? Link to comment Share on other sites More sharing options...
Cyclone Posted June 21, 2016 Author Share Posted June 21, 2016 I suppose it depends on how "likely" it is, the more likely, the more they stand to lose if it actually goes the other way. Link to comment Share on other sites More sharing options...
RonJeremy Posted June 21, 2016 Share Posted June 21, 2016 Why don't you just buy a load of Euros and sell them back afterwards? Link to comment Share on other sites More sharing options...
Guest sibon Posted June 21, 2016 Share Posted June 21, 2016 Why don't you just buy a load of Euros and sell them back afterwards? Won't the commercial exchange rates and fees cut into the profit, more than using currency traders? Link to comment Share on other sites More sharing options...
tzijlstra Posted June 21, 2016 Share Posted June 21, 2016 Won't the commercial exchange rates and fees cut into the profit, more than using currency traders? Correct. I've used a Dutch broker in the past, Van Lanschot Bankiers, but they changed hands (if I remember correctly) and the preferable terms I negotiated through one of the nephews Van Lanschot got changed over night. (Thinking back on it, I wonder if nephew got caught out for handing out trading accounts like they were sweets to buy himself privileges in town...) Link to comment Share on other sites More sharing options...
max Posted June 21, 2016 Share Posted June 21, 2016 You could try Interactive Investor at iii.co.uk. Link to comment Share on other sites More sharing options...
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