Can I open an investment account in the USA?
Is it possible for me to open an investment account in the USA? I wish to purchase dollars and interest rates in the USA of 5.25% look encouraging.
As the pound is now worth over $2 is it a prudent investment to buy dollars in the expectation that that the value of the pound will fall? Looking at historical data the pound has been worth less than $2 since 1976. In 1981 the pound was strong (almost = $2.5) but by 1985 it had dropped sharply to almost £1 = $1. I’m thinking the exchange rate is due a correction in time…
+ I live in the UK
+ I’m no big time investor. I have around £2000 to invest.
With GBP 2,000, you are not likely to ignite a lot of interest in the U.S. Most U.S. financial institutions would not open an account for a foreign customer, unless the customers has USD 5,000 – 10,000 to invest.
What you might want to do instead is to look closer to home and find a financial institution in the UK (or in another EU country) that would assist you in investing in the U.S. Large British (and Dutch) banks offer accounts denominated in foreign currencies (including U.S. dollar). There are unit trusts available to UK residents that invest in U.S. stocks and bonds. Martin Currie, Old Mutual, and quite a few other companies offer funds that invest predominantly in the U.S.
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Photo Jigsaw Puzzle of Golden Grain from Mary Evans
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Photo Puzzle, Golden Grain. A satirical picture of an American reaper with a huge scythe representing the rate of exchange being sharpened with a lathe representing sterling currency. Part of a number of humorous illustrations in a special issue of The Bystander commenting on the falling value of the pound against the dollar during 1920. Chosen by Mary Evans. 10×14 Photo Puzzle with 252 pieces. Pa…
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Photo Jigsaw Puzzle of A Gentle Reminder from Mary Evans
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Photo Puzzle, How John Bull Felt. – After surviving the hundred pages of cartoons and skits showered upon him in our recent Special Falling Pound Number. A final satirical picture showing John Bull staggering through a paper storm of jokes. Chosen by Mary Evans. 10×14 Photo Puzzle with 252 pieces. Packed in black cardboard box of dimensions 5 5/8 x 7 5/8 x 1 1/5. Puzzle image 5×7 affixed to box to…
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