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Posts Tagged ‘trading forex’

Trading Forex by Using PayPal

Saturday, May 31st, 2008

Trading forex (foreign exchange) is not unusual thing, it’s not strange business on these days, indeed. May be you’re doing it right now, or may be you have ever done it before. But, almost entire of these activities done by broker agency, thus you don’t get maximum profit because there are fees for those brokers. How if you trade forex by yourself using PayPal, without any broker agency interfere.

I offer really simple concept, if you have registered at PayPal and your balance have got full tank of money in there, then you already can earn more profit. Keep reading and you will know how the way is.

Saves your money in set of currency that you think have high benefit, currency that have stable value and tend to up. PayPal supporting 16 currencies, including Euro, Pounds, Yen, and Franc. I highly suggest you to saves your money in Euro and Pounds. When these currencies are appreciating you will get your profit if you change the exchange rate back to US Dollar.

Noteworthy, there is no fee to convert from one currency to another. One account may use 2 currencies and you can save your money in each currencies.

These are the following steps :

  1. Login to your PayPal account. At PayPal balance box, click Manage Currency.
  2. Choose one currency to activated. British Pound for example, click Open Balance button.
    When succeed, you will get message “You have opened a British Pound balance” and British Pound currency column value is 0.0 (it still empty).
  3. Next step, to convert our money into British Pound currency. Assume your default currency is USD, so choose U.S. Dollar and click Convert button. At the next page, define amount of money which will be converted at Convert Amount side, and your desired currency at into side. Click Calculate button to know the result, if you feel sure then click Continue button to proceed.
  4. Done!!! When sometimes you want to change back to USD, do the reverse.

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