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Futures Currency questions
- Thread starter schulzey
- Start date
Quote from schulzey:
I'm checking into that. It's the (eur/usd) M6E right?
Are the spreads huge because of the low volume?
I'm very interested in that because it would be just $1.25 per pip which would be great for intermediate term trades even if the spreads were a little wider than normal.
Yeah. Some Australian brokerage I read about on here has a micro S&P where each tick is also $1.25 instead of $12.50 like on the ES. Unfortuantely they don't offer accounts to Americans.
I think that would be a great learning/practice vehicle for people who want to learn to trade but don't have or don't want to use a big account.
Quote from AAAintheBeltway:
FX ETFs.
I didn't know this. I just Googled them and found these:
FXB - pound (avg 30k daily volume)
FXE - Euro (avg 1.1M daily volume)
FXA - Australian dollar (avg 292k daily volume)
FXY - Yen (avg 220k daily volume)
FXC - Canadian dollar (avg 78k daily volume)
Those are all around $100 or more per share. Seems like you'll need a decent amount of money to trade those, too.
I've been checking the E-Micro M6E today and the spreads were never more than one pip (which is the same spread as the normal size contract). Granted I am using a demo account and I'm checking quotes during normal U.S. Market hours.
If that's normal for the spread I'm definitely going to trade those.
If that's normal for the spread I'm definitely going to trade those.
Quote from schulzey:
I've been checking the E-Micro M6E today and the spreads were never more than one pip (which is the same spread as the normal size contract). Granted I am using a demo account and I'm checking quotes during normal U.S. Market hours.
If that's normal for the spread I'm definitely going to trade those.
How's the volume?
I haven't looked at them in years, but a few years ago the volume was really low and the spreads were a lot wider than one tick.
When I checked the spread over the weekend while the market was closed the spread was 30 pips or so. That's pretty common when you look at spread data for anything that is closed.
Sometimes the last price is a pip outside the spread but it has been only a one pip spread all day long. Can anyone confirm this that is using other futures platforms?
Sometimes the last price is a pip outside the spread but it has been only a one pip spread all day long. Can anyone confirm this that is using other futures platforms?
I'm also curious about currency futures and taxes. I've been told that e-mini S&P's fall under the 60/40 tax rule and Forex is in a gray area where it's not clearly defined yet how it's taxed.
Do Currency futures like the E-Micro EUR/USD fall under the futures tax rules of 60/40 or does it fall under the forex tax rules?
I would assume since they are futures they would be treated as such but you never know.
Do Currency futures like the E-Micro EUR/USD fall under the futures tax rules of 60/40 or does it fall under the forex tax rules?
I would assume since they are futures they would be treated as such but you never know.
Quote from schulzey:
I'm also curious about currency futures and taxes. I've been told that e-mini S&P's fall under the 60/40 tax rule and Forex is in a gray area where it's not clearly defined yet how it's taxed.
Do Currency futures like the E-Micro EUR/USD fall under the futures tax rules of 60/40 or does it fall under the forex tax rules?
I would assume since they are futures they would be treated as such but you never know.
they are 60/40 b/c they are (legally) a futures contract.