I've had an account with IG Index and for the first 12 months it was great. Their fixed spreads and guaranteed stops even round news was a real money printer. However, as with all spreadbetting companies they take the other side of the trade so it's in their best interests for you to make a losing trade. They've now wised up a bit and whilst I think adding false trades to your account has never happened to me, they have put me on manual execution to deter me from trading anymore. They are a public compand so I find it hard to believe they would go so far as to add false trades.
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Options for Forex
- Thread starter redbull13
- Start date
I've had an account with IG Index and for the first 12 months it was great. Their fixed spreads and guaranteed stops even round news was a real money printer. However, as with all spreadbetting companies they take the other side of the trade so it's in their best interests for you to make a losing trade. They've now wised up a bit and whilst I think adding false trades to your account has never happened to me, they have put me on manual execution to deter me from trading anymore. They are a public compand so I find it hard to believe they would go so far as to add false trades.
Quote from 2cents:
hi guys - any updates on brokers offering daily FX options? i've just taken another look at Saxo and it seems i can only buy/sell weekly or longer maturities... am going to take another look at IG... any new ones (other than Ikon)?
You're probably best off trying to go for a firm that offers Futures Options on CME Currency futures.
The currency options market is arguably not liquid enough to make high-frequency trading profitable (spreads are too wide), but I do a fair amount of swing trading from futures options and I like what I see so far.
The Philly Stock Exchange has recently set up electronic currency options on a retail-sized mini lot, but transaction costs are hard to beat on the CME FOP's.
well, sure, i wish i had the size to play on TFS ICAP's spreads (ex- volbroker )....Quote from forex162:
You're probably best off trying to go for a firm that offers Futures Options on CME Currency futures.
The currency options market is arguably not liquid enough to make high-frequency trading profitable (spreads are too wide), but I do a fair amount of swing trading from futures options and I like what I see so far.
The Philly Stock Exchange has recently set up electronic currency options on a retail-sized mini lot, but transaction costs are hard to beat on the CME FOP's.
thanks for the tip re PHLX's new e-mini FX options offering... still not enough maturities on offer for my taste but that's still early days...
any others?
GFT is going to offer vanilla options and exotics on spot before the end of the year. GFT seems to have a pretty solid reputation. And yes, my firm has a relationship with them. Just wanted to disclose that.
I do not remember the lineup of products they will be offering. It was mentioned in a large ad in this month's Active Trader magazine. They just said they will be offering vanilla options, wide variety of exotics, forwards and also access to CME futures as well I believe. So pretty much everything under the sun. I suspect they will have tighter spreads then Saxo.
Quote from Maverick74:
I do not remember the lineup of products they will be offering. It was mentioned in a large ad in this month's Active Trader magazine. They just said they will be offering vanilla options, wide variety of exotics, forwards and also access to CME futures as well I believe. So pretty much everything under the sun. I suspect they will have tighter spreads then Saxo.
Interesting.
Quote from Maverick74:
I do not remember the lineup of products they will be offering. It was mentioned in a large ad in this month's Active Trader magazine. They just said they will be offering vanilla options, wide variety of exotics, forwards and also access to CME futures as well I believe. So pretty much everything under the sun. I suspect they will have tighter spreads then Saxo.
tight spreads with GFT, now i have heard everything!
well, hopefully they will change their fixed spread model, aint going to survive otherwise.
surf
Quote from marketsurfer:
tight spreads with GFT, now i have heard everything!
well, hopefully they will change their fixed spread model, aint going to survive otherwise.
surf
Surf, Saxo is 8 to 12 pips wide on all their FX options. That is highway robbery. I seriously doubt a US company could get away with that shit. FYI, the merc is about 6 pips wide on most of their options on futures for Euro and Yen products.
Quote from Maverick74:
Surf, Saxo is 8 to 12 pips wide on all their FX options. That is highway robbery. I seriously doubt a US company could get away with that shit. FYI, the merc is about 6 pips wide on most of their options on futures for Euro and Yen products.
thanks maverick. im only familiar with the pair spreads which are terrible- plus the way their day policy where they reset your trade every couple days-- terrible-- surprised they would change their model for options, but maybe they will.
surf