Cheap FX hedge for retail portfolio

[limonDancer]

I know it‘s a very basic question to be asking here. Basically I set aside some savings in ETFs and was wondering about cheap, low-effort hedges for some of the associated currency risk that can be implemented on a retail brokerage account (my home currency is EUR and I want to hedge against USD, so nothing exotic).

[rickyvic]

This should be in basics.

You can hedge your currency with the nearby futures which you need to be rolling about every 3 months.

Alternatively rolling spot fx but they roll it at spot next / tom next swap every day and charge you a lot more than bidask so not very economical, but you don't need to roll like the futures contracts.

Otherwise you buy a futures option and roll it the same way, it will cost you more but you only pay the premium dont need to post margin daily.