Is anyone using the multi-currency account feature at OANDA?
I was just wondering. With the nosedive the dollar is taking against essentially all major currencies, it seems attractive to denominate an account in Euros or Francs. I think this might be a good way to strengthen my own personal finances, and as far as I know, there are no U.S. banks that allow savings accounts in currencies other than the dollar.
I know this is pretty much the same as just buying eurusd, but if your account is denominated in Euros to start with you get the benefit of doing this without having your money tied up (i.e. you've 'bought' Euros, but you can still trade other currencies with them).
It's just a thought. The first time I read about it, it sounded like you could only denominate a currency in whatever you deposited. In other words, you could have an account in Euros but only if you funded it that way. When I read it now, it sounds like you can actually have a primary account in dollars and set up a sub-account in Euros and transfer money back and forth between the two accounts. There is no mention of a service charge for doing this.
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