Which bank offers Forex DCI ?

Hi cherroy,

Thanks for merging up the threads. I understand its tough work moderating the forums.

However, the AUD Savings Plan I am referring to is not really a Foreign FD account, but rather a Close Ended Guaranteed Investment Fund which can be an alternative to FD.

It works more like a Savings/Education Plan denominated in AUD. Hence the reason why I didn't post it up together with the foreign FD threads.

Here are some of the reason why its different:

1. It comes with Free Insurance Coverage of up to 125%.
2. It is Creditor proof unlike normal bank FD, where creditors can go after your FD money.
3. There's zero withholding tax. Normal bank FD above RM100,000 is subjected to 5% tax.
4. You may even get to enjoy Tax Relief up to RM 6,000 Life Savings/EPF as well as RM3,000 Education reliefts as its considered a life savings/education plan.

This is the closes thing you can get to opening a foreign currency account without having to pay the account charges.

There will be a newspaper advertisement on the News Strait Times on the 24th and 25th April, for those who subscribe.

Offer period is from 18th April till 19th May, 2008 subjected to a first come first serve basis. Offer may close earlier if the assets are fully subscribe.

Current assets available is AUD 7 mil only.

Meanwhile, the company is trying to get more assets approved, so that more people can get to participate.

Hope the additional info can be of help to those interested.

Thank. Best Regards.

One thing i dun understand is if is GUARANTEED return, 20.22% pa, still got people want to go in stock market ? or put in normal FD? some risk must be there right ?

The interest rate is high but it seems like AUD and NZD is going down. Heard New Zealand is facing recession now. My question is:

1. Should one start to invest since the rates are lower now?
2. Should one withdraw if they have previously invested?

Interesting opinion. The interest rate for USD is maybe 2.5% now. Does that mean they don't want people to invest in the US ?

I've just invested in FCFD, precisely NZD with current rate of 2.410.
The return is quite high with 8.51% per annum and I understand the risk of such deposit.
Right now, i need to trace back the history or futures of NZD dollar in case I need to invest more.

Do anyone of you have the link for me to study the movement of NZD?

Thanks in advance!

what about the 5% tax ? i know i seen the tax thing somewhere.

Is the above program still available please ?

Where can I find more details on the above please ?

The New Zealand goverment has announced the interest rate reduce from 8.2% to 8.0%.
http://www.learncurrencytrading.com/fxforu...ulders-top.html
It mentions that it will be revised more due to the slumping economy of the country. I think this will heart more to our FCFD

Alright.. after reading those threads posted by b00n i dun think FCFD is a good way to make money.. thanks to everyone for the info here... Im a n00b at investing and would like to learn.. can recommend me some easy investment where a newbie can start off?? maybe recommend something that is not that difficult to handle and have a small earning.. just a stepping stone.. i try reading other investment thread and i cant understand 90% of what they're talking bout.. even when i read the guides from website they post i just pening... what are the investment type for newbies?

MYR/AUD is at 5-year highs. It's almost vertical. So hopefully the AUD won't crash within the first term (or am I looking at the wrong chart?)

http://au.finance.yahoo.com/currency/conve...=AUD&amt=1&t=1y

Tell me if I'm looking at the wrong chart because it seems kind of high to be buying now.

Don't know if i should post up here but here's my situation

I'm going over to UK around June next year, since the pound rate is kinda low now i was thinking of changing some amount first and keep it in case it goes up.

My question will be can i FD the money with local banks as in pound?Or there's any other better suggestion?

Sorry if i ask in the wrong place

Thanks for the feedback, any idea how's the interest rate will be like?Just like ordinary FD?

Another issue, i was looking at bank's exchange rate and there's this term "Selling TT/OD" which has a lower rate compare to "Currency Note Selling", may i know what's the differences as the rates difference is kinda significant.

For example from Maybank's website, 1 Sterling Pound

Selling TT/OD : 5.6590

Selling (Currency Notes) : 5.9980

Wouldn't they lose a lot of money that way ?   Are you sure you won't get back the principal at 1.90 if (3) happens? and which bank will give you 70% interest, even for DCI ?

Thanks for the chart links tho

i Tot it stated the DCI is up to 15% interest perannum......where did it says 70%??? sumore min investment 3mil? wow..

Hmm I see. I thought I'd be able to withdraw as NZD$, I guess that wouldn't be suitable for me then.
Hmm, I'm not sure about that. I plan to travel to NZ in November of this year.. if I'm afraid of NZ appreciating later this year, should I just purchase hard cold NZD cash from the money changers instead? If I were to do that, I just don't like the fact that I can't keep it in a safer place (ie: bank) plus earn that tiny bit of interest.

Since it's the recession worldwide, I doubt if I hold on to physical NZD, the inflation rate would affect me by much? What do you guys think? Sorry if my knowledge in the financial markets isn't really up to par..

hi guys, need advice... i have a ton of usd in cash. instead of just letting is do ntg, is there any bank that i can put like an FD for monthly terms n get it back at usd later?