I don't trade forex nor futures, but am looking for a way to get -long- exposure to the euro (i am in the US) without exposure to weak equity markets that are highly linked to our own equity markets. So this rules out purchasing european stock market funds. I also assuming holding forex positions doesn't make sense because of high long term margin interest costs - but correct me if I am wrong. If I buy 50k worth of euros on forex, if I read correctly on IB's site, I am at minimum required to have $1k (1:50 margain req) to maintain that position (if it doesn't move against me). But I assume that would mean I'm paying to borrow $49k to maintain that position. This wouldn't work for a long term hedge. So if I buy $50k of euros in $100k account, will that order not consume the margain? Also, do I pay a different margain interest rate for forex positions versus future positions or stock positions held in margain? I assume not. Also, do I earn interest on my forex position ? If I do, at what rates? ( i assume euro overnight average versus dollar). For this position to even break even, the dollar would need to drop more than the amount of interest it pays out. But I'd like to at least figure this out. Again, not interested in short term currency trading. If any one has any better ideas or techniques how to maintain a good USD hedge without spending much on margain interest and not missing out on lost income from cash (ie in the 5% range right now), please post it here. I assume due to my lack of experience here, I may be going at it all wrong.