currency options

[Maverick74]

Quote from unknown:

riskarb Now thats more like it pro, any more comments any one?

I've got Jerry Lewis on the phone, he's willing to get the telethon started as soon as everyone is ready to go.

Seriously man, you can trade currency options through Interactive Brokers. They are a sponsor on this site. You can ask them 1000 questions. What exactly are you looking to do? Everyone here has been very specific. What more do you want?

 

[Chood]

Unknown,

You're chief problem isn't an inability, seemingly, to find access to currency options, but instead that you lack knowledge enough of the topic even to recognize and understand the dead on advice given you by one trader thoroughly skilled in currency options. You've also ignored -- or appear to ignore -- the more general advice offered by others in reply to your request.

 

[MTE]

I sense the beginning of another highly intellegent thread.

 

[unknown]

Maverick

I am new to currncy options.
I trade equity and index options at the moment in the UK, I see prices on the euronex liffe platform for all options I ring my broker and trade. I wanted to do the same with currencies so i searched for brokers and found saxo to be the only one who provide live streaming options prices,
I have tried there platform and its good the spread on the options is wide, so I was looking to see if there are alternatives which is why I started this thread.

 

[unknown]

By the way Guys excuse my typing errors!

 

[Maverick74]

Quote from unknown:

Maverick

I am new to currncy options.
I trade equity and index options at the moment in the UK, I see prices on the euronex liffe platform for all options I ring my broker and trade. I wanted to do the same with currencies so i searched for brokers and found saxo to be the only one who provide live streaming options prices,
I have tried there platform and its good the spread on the options is wide, so I was looking to see if there are alternatives which is why I started this thread.

OK, let me try this one more time. As a UK resident, you can open an account at Interactive Brokers. They have access to Globex. Globex is 100% electronic. You will see live real time streaming quotes you can trade off of. Globex has EMM's (electronic market makers) who make deep tight markets on the FX futures options. Is there any part of this statement you do not understand?

 

[unknown]

Thanks For all the replys guys best of luck with your trading!

 

[MTE]

Quote from unknown:

Maverick

I am new to currncy options.
I trade equity and index options at the moment in the UK, I see prices on the euronex liffe platform for all options I ring my broker and trade. I wanted to do the same with currencies so i searched for brokers and found saxo to be the only one who provide live streaming options prices,
I have tried there platform and its good the spread on the options is wide, so I was looking to see if there are alternatives which is why I started this thread.

If you trade equity/index options on Liffe then you should know the difference between exchange-traded instruments and OTC instruments. If you want your effort directed towards trying to outsmart your broker then go with Saxo, if you'd rather spend time actually trading then go for options on futures on CME. The broker that you choose is up to you. Interactive Brokers is one choice, there're others, once again visit the "brokers review" section and take your pick. Also visit CME website and check the broker link provided there. Also search these forums, there's plenty of discussion on various futures brokers.

 

[2cents]

Quote from unknown:

so far no pro traders comments are there any guys who can give me good direction. I have searched all over but not come accross any one in comparison to saxo as far as the trasing platform goes for streaming prices, the big banks dont wanna know the individual traders.

{yawn}... http://www.elitetrader.com/vb/showthread.php?s=&threadid=65423&highlight=fx+options fyi

 

[unknown]

Well Guys after doing reasearch I have found that the currency options you guys were talking about with Cme and brokers like IB and the otc options I was talking about are completely different. I didnt know about the ones you guys pointed out. Any way for you info and without being unfair to saxo I can tell you the following:

Saxo Bank is in fact a EU regulated bank with the same regulation requirements and reporting requirements as any other bank.
Their FX options are OTC meaning they are the counterparty however this is true for all FX trading around the world, including some of the biggest names in the financial industry. This is not new nor terrifying. It is in fact the most liquid market in the world and they enable you to open/ close your positions 24 hours a day 6 days a week.
Also I cannot agree that their system is bad. they have received countless rewards for being the best platform in the market in several areas. Please look at their website for confirmation of that ( www.saxobank.com )

Yes - Saxo will be your counterparty in the trade but they will also hedge via spot and therefore it is NOT true that any money a trader loses they will win or vice versa. The client flow they receive makes their option book much more complex than just viewing clients trade against their trade.