Comments on: The currency game: my experience with Everbank World Markets http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/ Because you shouldn't need an MBA to be savvy about finance and business Thu, 09 Feb 2012 01:13:00 +0000 hourly 1 http://wordpress.org/?v=abc By: Robert Russell http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-218665 Robert Russell Tue, 21 Jul 2009 02:59:18 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-218665 I've been looking for a way to invest in gold backed currencies, and this looked like a possibility. Drake's comment really puts me off; if they are liquidating accounts, that counters my understanding of what a CD is supposed to represent. Right now they are promising 25% on a 3 year CD -- which in itself seems a bit unrealistic. I’ve been looking for a way to invest in gold backed currencies, and this looked like a possibility. Drake’s comment really puts me off; if they are liquidating accounts, that counters my understanding of what a CD is supposed to represent. Right now they are promising 25% on a 3 year CD — which in itself seems a bit unrealistic.

]]> By: Drake http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-185498 Drake Thu, 16 Oct 2008 19:22:18 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-185498 I've been with Everbank World Markets for a few years. I've never felt very comfortable with them and all of this blog's cautious comments are fully justified. But now that some of their CDs in foreign currencies are tanking, they are literally liquidating accounts at astronomical losses to their customers. Check this other blog for more details: http://www.openmarket.org/2008/10/07/everbank-can-multiply-your-financial-woes/?disqus_reply=3045286#comment-3045286 I’ve been with Everbank World Markets for a few years. I’ve never felt very comfortable with them and all of this blog’s cautious comments are fully justified. But now that some of their CDs in foreign currencies are tanking, they are literally liquidating accounts at astronomical losses to their customers. Check this other blog for more details:
http://www.openmarket.org/2008/10/07/everbank-can-multiply-your-financial-woes/?disqus_reply=3045286#comment-3045286

]]> By: keith http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-142088 keith Fri, 04 Apr 2008 01:09:20 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-142088 I first opened a money market account with Everbank at 6%.Then I got a c.d. tied to the price of gold(principal remains at the invested amount and the average price of gold over the life of the c.d. is paid to the account)I have hedged monies into 5 seperate currencies.I have also bought unallocated metals at bullion prices based on the London spot close prices.All my trades with Everbank have been easy.The Daily Pffenning is my "must read"every morning,even before the Drudge Report.My accounts are always transperent. I first opened a money market account with Everbank at 6%.Then I got a c.d. tied to the price of gold(principal remains at the invested amount and the average price of gold over the life of the c.d. is paid to the account)I have hedged monies into 5 seperate currencies.I have also bought unallocated metals at bullion prices based on the London spot close prices.All my trades with Everbank have been easy.The Daily Pffenning is my “must read”every morning,even before the Drudge Report.My accounts are always transperent.

]]> By: KC http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-119125 KC Wed, 21 Nov 2007 21:21:01 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-119125 Thanks for sharing. I'm also looking for ways to invest in Euro and wasn't sure of Everbank. Have you found a good alternative that is more transparent and accessible? Since this was written over a year ago, I am curious what you have found out since then. Thanks for sharing. I’m also looking for ways to invest in Euro and wasn’t sure of Everbank.

Have you found a good alternative that is more transparent and accessible? Since this was written over a year ago, I am curious what you have found out since then.

]]> By: Diane http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-118887 Diane Mon, 19 Nov 2007 22:33:45 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-118887 I opened an EverBank account earlier this year which rolled dollars I had in an IRA (cash) with a brokerage firm into an EverBank IRA in euros. Today I added Swiss francs to the account. Because my money remained in an IRA, I haven't paid anyone a fee. EverBank has always been helpful, I receive a monthly statement, earn foreign interest on my euros, and the account is not in the form of a CD. The staff at EverBank's World Markets desk is not huge, so I have spoken to two people regularly. I don't care if they don't give their last names when they answer the phone. As long as they are doing their job for me, why should that matter? It took a long time searching for a place in the US where I could actually own euros, and to find one insured by the FDIC up to 100,000 USD per account was perfect! Plus, The Daily Pfennig newsletter is an eye opener and an education in itself, arriving every weekday morning free to World Markets' customers. While you are looking for a friendlier place to do business, the dollar is falling like a stone. Good luck to you! I opened an EverBank account earlier this year which rolled dollars I had in an IRA (cash) with a brokerage firm into an EverBank IRA in euros. Today I added Swiss francs to the account. Because my money remained in an IRA, I haven’t paid anyone a fee.

EverBank has always been helpful, I receive a monthly statement, earn foreign interest on my euros, and the account is not in the form of a CD.

The staff at EverBank’s World Markets desk is not huge, so I have spoken to two people regularly. I don’t care if they don’t give their last names when they answer the phone. As long as they are doing their job for me, why should that matter?

It took a long time searching for a place in the US where I could actually own euros, and to find one insured by the FDIC up to 100,000 USD per account was perfect! Plus, The Daily Pfennig newsletter is an eye opener and an education in itself, arriving every weekday morning free to World Markets’ customers.

While you are looking for a friendlier place to do business, the dollar is falling like a stone. Good luck to you!

]]> By: tim http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-62428 tim Sat, 05 May 2007 01:53:07 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-62428 so how do I do this? I've been searching, a bit desultorily, for 18 months or so. How do I play this? so how do I do this? I’ve been searching, a bit desultorily, for 18 months or so. How do I play this?

]]> By: Bertrand http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-31137 Bertrand Wed, 28 Feb 2007 05:07:11 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-31137 I found out about Everbank from another financial web site. I believe Everbank makes their money from the interest rate "spread". I only checked one currency, the Australian Dollar. But, here is what I found in Feb 2007: Everbank was paying 5% for an Australian Dollar CD. Inflation in Australia was 8%. Therefore you would lose 3% after inflation. So, the only way you could make money is if the Austrailian Dollar would appreciate more than 3% against the US dollar. Bertrand I found out about Everbank from another financial web site. I believe Everbank makes their money from the interest rate “spread”. I only checked one currency, the Australian Dollar. But, here is what I found in Feb 2007: Everbank was paying 5% for an Australian Dollar CD. Inflation in Australia was 8%. Therefore you would lose 3% after inflation. So, the only way you could make money is if the Austrailian Dollar would appreciate more than 3% against the US dollar.

Bertrand

]]> By: Tim MMF http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/comment-page-1/#comment-1059 Tim MMF Fri, 14 Jul 2006 20:15:43 +0000 http://www.experiglot.com/2006/05/04/the-currency-game-my-experience-with-everbank-world-markets/#comment-1059 Good stuff. Thanks for the link. Good stuff. Thanks for the link.

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