For the people very excited to prove wrong on what i'm about to write, go for it that's what i'm looking for, theres about a 1% chance of this being a viable strategy but I figured i'd give it a shot.
Now from what i've been told currency futures don't pay/charge interest (thing #1 I could be wrong about)...Now I don't trade futures but from viewing some charts I found that the movements on futures pairs compared to spot pairs are identical (thing #2 I could be wrong about)...So rather then open up a shady "sharia" account which will immediately shut you down, why dont we hedge our trades with a futures account? Ex: Long GBP/JPY in our interest paying account, and Short GBP/JPY in our futures account to offset the profit/loss and collect the interest.
My Question : I know this is a much discussed topic with non-interest paying accounts or sharia accounts, but I want to know if it is possible to do this with a futures trading account.
Now from what i've been told currency futures don't pay/charge interest (thing #1 I could be wrong about)...Now I don't trade futures but from viewing some charts I found that the movements on futures pairs compared to spot pairs are identical (thing #2 I could be wrong about)...So rather then open up a shady "sharia" account which will immediately shut you down, why dont we hedge our trades with a futures account? Ex: Long GBP/JPY in our interest paying account, and Short GBP/JPY in our futures account to offset the profit/loss and collect the interest.
My Question : I know this is a much discussed topic with non-interest paying accounts or sharia accounts, but I want to know if it is possible to do this with a futures trading account.