Forex Brokers Currency News
Transferring your money into gold
I’ve just seen an advertisement suggesting to go to XForex.com as a way for transferring your money into gold due to the unstable price of other investments that are available.
The site is purely an online forex trading site so it’s interesting to see that they’re promoting the purchase of gold directly. When you go to their homepage, there isn’t anything mentioned about gold transfers neither is there anything reassuring you that they are in fact a gold trader.
If you do a search for buying gold online you end up with bullionvault.com and kitco.com as the first two results as they’re companies where you can buy gold directly.
Generally, if you’re interested in transferring your money into gold you may be better off just purchasing it directly.
Bank indemnity for foreign checks
Today I was forwarded a bank indemnity document that a bank wanted our small business to sign so that we could deposit foriegn checks into our business bank account.
The level of indemnity was incredible, there was no limitation on the amount and the recoverable payments were based on whatever the bank deemed that it wanted to pay.
The terminology used was “or may in its discretion pay in respect of such claim(s)” which would open a small business up to any liability that the bank feel appropriate with no limitations.
That would be an unacceptable risk without…