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Old 10.03.2008, 19:21
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Playing with the money!

I have some questions. I would really appreciate if someone kind enough could answer;
1. Is there any possibility that I can open US$ account and Indian Ruppee a/c in Credit Suisse Bank (as am already cleint there) if not, in any other banks? If yes, can I transfer the money b/w these account and make profit on the currency rate fluctuation?
2. Am new in buying shares, I recently bought few CS and UBS share via directnet of CS just to try. Surprisingly, they charged CHF40 extra (some kindda commision) for the UBS share and just 20 Rappen for CS share. Why the difference? Will there be also some charges when I sell those shares? If yes, how much?
3. How much tax(%) do I have to pay for the profit (if) I made by selling these shares?
Any help on these matters will be highly appreciated. Thanks in advance
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Old 10.03.2008, 20:11
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Re: Playing with the money!

Shall I fill out your tax application while I am at it?

Seriously mate, shouldn't you be asking your bank these questions? I'm sure CS is competent enough to answer any questions for English speaking clients. It is unwise to deal in shares if you don't really know what you're doing. Read up a bit before you deal, then you can avoid nasty (40 CHF) surprises. Usually banks charge a commission on the sale of your stock.
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Old 10.03.2008, 21:37
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Re: Playing with the money!

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Seriously mate, shouldn't you be asking your bank these questions? I'm sure CS is competent enough to answer any questions for English speaking clients.
The problem is I always work during office hours and I don't have access to phone and computer during my working hours.
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Old 10.03.2008, 22:14
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Re: Playing with the money!

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I have some questions. I would really appreciate if someone kind enough could answer;
1. Is there any possibility that I can open US$ account and Indian Ruppee a/c in Credit Suisse Bank (as am already cleint there) if not, in any other banks? If yes, can I transfer the money b/w these account and make profit on the currency rate fluctuation?
2. Am new in buying shares, I recently bought few CS and UBS share via directnet of CS just to try. Surprisingly, they charged CHF40 extra (some kindda commision) for the UBS share and just 20 Rappen for CS share. Why the difference? Will there be also some charges when I sell those shares? If yes, how much?
3. How much tax(%) do I have to pay for the profit (if) I made by selling these shares?
Any help on these matters will be highly appreciated. Thanks in advance
Usually questions like these are better asked before parting with your money.
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Old 10.03.2008, 22:23
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Re: Playing with the money!

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Usually questions like these are better asked before parting with your money.
You are right. But I haven't invest that much yet. So, I wanna know those before carry on investing more. Will someone please answer to my original post (rather than suggesting something else).

Last edited by despo; 11.03.2008 at 16:20.
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Old 11.03.2008, 10:43
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Re: Playing with the money!

The problem with your idea is that even if you can create an account in INR (which I doubt unless you plan to deposit a lot), trading like that will be horribly ineffective and most probably all your earnings will be lost on commissions for the currency exchange, which are charged by your bank. Why don't you just open an account with a broker who will allow you to trade a wide array of financial instruments. That way you won't be restricted to just speculating on the USD/INR rate, but a bunch of others as well. Plus, you'll get a live feed of the rates, split second response times, lower commissions and you can trade around the clock.

However, all this is of very questionable benefit to you since if you don't have good knowledge about how financial instruments work, you can just as well go and play the lottery. Your odds will be roughly the same.

I suggest you buy some books, read up on the topic and then decide if trading is your cup of tea.
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Old 11.03.2008, 10:45
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Re: Playing with the money!

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The problem with your idea is that even if you can create an account in INR (which I doubt unless you plan to deposit a lot), trading like that will be horribly ineffective and most probably all your earnings will be lost on commissions for the currency exchange, which are charged by your bank. Why don't you just open an account with a broker who will allow you to trade a wide array of financial instruments. That way you won't be restricted to just speculating on the USD/INR rate, but a bunch of others as well. Plus, you'll get a live feed of the currency exchange rate and you can trade around the clock.

However, all this is of very questionable benefit to you since if you don't have good knowledge about how financial instruments work, you can just as well go and play the lottery. Your odds will be roughly the same.

I suggest you buy some books, read up on the topic and then decide if trading is your cup of tea.
www.investopedia.com is a good start
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Old 11.03.2008, 16:35
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Re: Playing with the money!

Thanks for the input; guys. Is there any good website(s) that I can do those trading? Or how about going directly to the concern bank counter? Are those brokers trustful?
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Old 11.03.2008, 17:53
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Re: Playing with the money!

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Thanks for the input; guys. Is there any good website(s) that I can do those trading? Or how about going directly to the concern bank counter? Are those brokers trustful?
I suggest you would be better served by reading up on investing in general - there are several sites, and one has been pointed out already - rather than using your time to type vague questions here.

it is not my business, but your questions suggest that your knowledge is less than elementary on the subject; playing with real money in your case would be a lot more profitable, and a lot more fun at the casino.
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Old 11.03.2008, 18:36
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Re: Playing with the money!

The difference in prices are due to the fact that you bought CS shares at the CS. If you buy UBS shares at UBS you'll have a discount too.
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Old 11.03.2008, 23:37
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Re: Playing with the money!

Hello,

I was planning on travelling to India recently and depositing from my CHF into a local Indian account ( I think I tried Citibank ) but was told I had to be a RNI ( Resident Non Indian ) to do so. I understand you can't take Rupees out the country so they're pretty tight on stuff like that. I you find a way to open a local bank account, please post.

M
x
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Old 11.03.2008, 23:39
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Re: Playing with the money!

Alternatively, if you want to invest in India... Forget about opening a local account there .. try ETFs ( Exchange Traded Funds ) .. There are a good few about now for emerging markets. Try FORTH CAPITAL or BARCLAYS.... Do a search on Bloombergs under BRIC ( Brazil, Russia, India, China ) which are heralded (sic) to be a good investment in the next few years.
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Old 13.03.2008, 20:47
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Re: Playing with the money!

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Hello,

I was planning on travelling to India recently and depositing from my CHF into a local Indian account ( I think I tried Citibank ) but was told I had to be a RNI ( Resident Non Indian ) to do so. I understand you can't take Rupees out the country so they're pretty tight on stuff like that. I you find a way to open a local bank account, please post.

M
x
This is not what I really want (to open an account their in India). I guess they are right that you gotta be Non Resident Indian (NRI) to do that. And I have an Indian passport . But I am not interested in opening account there.
I just wanna open an INR and $ acount here and which I was able to do just today. They charge CHF 3 each per month. And they also told me that they don't charge any commission when I transfer money b/w my other account with the same bank. And I get better rate as my wife is working in their bank(Credit Suisse). So, am happy as for now.
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