Investment/gamble: best place to buy c. €20k sterling?

If somebody wanted to take a punt on the British remaining, where would they go to purchase sterling at the cheapest price?

Brexit: Sterling rises most since 2008 as Remain gains momentum

Francie Barrett

Deleted User wrote: »

If somebody wanted to take a punt on the British remaining, where would they go to purchase sterling at the cheapest price?

Brexit: Sterling rises most since 2008 as Remain gains momentum

Currencyfair is the cheapest option I have encountered to do physical FX rate conversion. You can add Euro to the account, convert to Sterling, maintain the Sterling balance and then switch back to Euro whenever you see fit.

Personally, with the vote being 3 days away now, and the fact that Sterling has already strengthened on the back of expectations that Britain will Remain - you are wasting your time.

TiGeR KiNgS

You missed the boat here.

iainBB

Seriously you have 20k to invest . were was the money before ? what interest /dividends was it getting ? Why change your proven strategies that got you 20k.
Why risk your hard earned money on a investment strategy you don't know anything about for a possible quick win.

onrail

Make sure you don't make the same mistake as me - if you're doing this, keep the sterling within CurrencyFair rather than transferring to a sterling account.

I transferred approx £10k sterling to euro a couple of weeks back, but when I saw sterling strengthening, the transfer times involved meant that I missed the spike.

Lost the guts of €200. Not the end of the world, but a harsh lesson nonetheless.

iainBB

iainBB wrote: »

Seriously you have 20k to invest . were was the money before ? what interest /dividends was it getting ? Why change your proven strategies that got you 20k.
Why risk your hard earned money on a investment strategy you don't know anything about for a possible quick win.

You're correct of course but I've money sitting in a savings account getting ready to buy a house but it's now looking like I won't be buying one for at least another year so I'm just looking at short-term options.

iainBB

[Deleted User] wrote: »

You're correct of course but I've money sitting in a savings account getting ready to buy a house but it's now looking like I won't be buying one for at least another year so I'm just looking at short-term options.

I would put it in a high divided yeild ETF. Which would give you a return in value and dividend

A year is medium to long term. . all investment have risk.

elgriff

Probably best going to betfair with *some* of it it and just placing a bet.

daveirl

This post has been deleted.

Prezatch

Some other options:

https://www.zacks.com/commentary/83702/brexit-101-7-ways-to-trade-the-vote-on-thursday

Quite a risky 'short term option' to be gambling 20k worth of mortgage money though

Prezatch

I really hope you didn't punt that 20k the wrong way...

drunkmonkey

Where's that 20k going today? Bitcoin?

iainBB

Got up this morning thinking that,that guy with 20k.

Francie Barrett

What happened last night is all the more reason why people should speculate in currency. If you didn't know what you were doing spread trading, you could have been wiped out last night.