| Complaints pile up about online investments involving foreign ...
Ellen Whitmore never takes a risk. She watches her expenses closely and describes herself as a conservative investor.
But last November, Whitmore, 50, of Fort Lauderdale, did something out of character while surfing the Internet: She made an impulse purchase after a pop-up window claimed that buying Iraqi currency was a good investment. She has since learned the hard way, as financial experts and consumer watchdogs warn, that investing in foreign currency with online companies could be a risky proposition.
"It sounded very legitimate," said Whitmore, who never received the 2 million Iraqi dinars she purchased for $1,480 through the Web site of Illinois-based United World Exchange, www.usdinar.com.
Whitmore, a part-time volunteer with a local nonprofit organization, is one of a growing number of consumers who have filed complaints against United World Exchange with the Better Business Bureau of Chicago and the Illinois attorney general's office.
Euro hits 2-year high versus $
NEW YORK: The euro reached a two-year high against the dollar and approached a record versus the yen as signs of faster growth in Europe raised speculation the European Central Bank will increase interest rates. Gains in the euro accelerated after it rose above $1.34, triggering orders to buy back the currency, traders said. ECB officials said this week that higher borrowing costs are needed to contain inflation as reports showed strength in manufacturing. The Bank of England kept rates unchanged on Thursday. "The euro is aggressively bought," said Tim O'Sullivan, chief foreign exchange trader at Forex.com, a unit of online currency trading company Gain Capital in Bedminster, New Jersey, which has about $250 million funds under management. "The ECB has more room to go to hike rates." The euro advanced 0.47% to $1.3431 in morning trade in New York, the highest since March 2005.
Royal Forex Trading Announces Launch of New Dynamic Website ...
Leading online currency trading company, Royal Forex Trading, LLC is pleased to announce the re-launch of their website with many new features making online currency trading even easier for both new and existing clients. Boca Raton, FL (PRWeb) April 3, 2007 -- Royal Forex Trading, LLC (RFXT) provides an online trading platform for individuals and institutions that want to speculate on the exchange rate between two currencies. In doing so, traders buy and sell currencies with the hope of making a profit when the value of the currencies changes in their favor. RFXT is hoping to give new and existing clients an even better currency trading experience with a re-launch of their website. One of the most interesting additions to the new website is the ability for clients to download RFXT's new foreign exchange software program, called MetaTrader and Mobile Trader 4 (to be used with PDA, and other small screen mobile devices.) Clients can use the foreign exchange software for excellent, above and beyond regular standards in execution.
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