Hi,
I’ve been reading this forum for a while but this is my first post.
I’ve got just over £100k in my Ltd company account as a war chest. Just spoke to my bank and they said that the funds above £50k are not covered. I am looking for ways to spread the risk and to minimise losses if the pound goes does or inflation starts eating the capital.
One advice I received from a wise person (he did give me some good advices before) is to open forex accounts with a couple of brokers and to deposit some of company’s funds there. The brokers make money on spreads during transactions. So, if I don’t make any transactions, I don’t incur any charges but even receive an interest on my capital. So, in fact, it’s like a foreign currency account with one of the banks but without charges. Also, this way I would avoid all the hassle with opening ltd company accounts in the banks. Has anyone tried a similar approach? Any views/comments?
I’ve been reading this forum for a while but this is my first post.
I’ve got just over £100k in my Ltd company account as a war chest. Just spoke to my bank and they said that the funds above £50k are not covered. I am looking for ways to spread the risk and to minimise losses if the pound goes does or inflation starts eating the capital.
One advice I received from a wise person (he did give me some good advices before) is to open forex accounts with a couple of brokers and to deposit some of company’s funds there. The brokers make money on spreads during transactions. So, if I don’t make any transactions, I don’t incur any charges but even receive an interest on my capital. So, in fact, it’s like a foreign currency account with one of the banks but without charges. Also, this way I would avoid all the hassle with opening ltd company accounts in the banks. Has anyone tried a similar approach? Any views/comments?
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