I am thinking of taking a long-term position in Hong Kong Dollars because I think that the HKD will be revalued upward relative to the USD sometime in the next two years. One way to do this is convert available USD cash to HKD and I have already done that much. I have an Interactive Brokers account and it was simple to convert most of the cash to HKD. IB allows cash in any currency to be used as margin for trading stocks and futures in other currencies so that is excellent. Beyond that, suppose that I want to hold an HKD position on a leveraged basis. I have been reading that one way to do this is to make an FX trade and continually roll it forward every day instead of settling it. I cannot find any information on how to actually do that although there is some mention of it on IB's web site. Another alternative seems to be to simply convert more USD cash than I actually have into HKD, simply creating a negative USD balance. IB allows that. There would be a small interest cost. Are these really two different ways of holding an HKD position? Which is commonly used? What are some of the pros and cons? I guess that a still third way would be to enter into a forward contract, although I do not think IB offers those. I know that the Banks do, but I have the impression that they are expensive. So which of these 3 may make sense? Or where can I read more on this issue? Thanks for any replies.