Currency Market Offers Opportunity But Only for the Savvy

CurrencyShares, for instance, offers almost a dozen, dealing in both major and lesser ones, including the Swiss Franc, Mexican Peso and Russian Ruble. PowerShares, ProShares, MarketVector, Barclays and WidsomTree are also very active in the field.

Barclays' iPath offers four ETNs linked to three currencies (Pound, Euro, Yen). iPath and Market Vectors also offer ETNs.

Be sure to check with your accountant about taxation differences between ETNs and ETFs.

ETFs and ETNs are the simple way of accessing foreign exchange, but cover a limited—if growing—number of currencies.

A more dedicated foreign exchange investor will need to open an account with one of the major brokerage firms like FXCM. These firms recommend that you start with a practice account to learn the ins and outs of the foreign exchange markets before you put your investment capital to work.

Currencies trade virtually 24 hours a day and the market moves at lightning speed. Price swings can be swift, large and unexpected.