Physical Delivery of Hard Currency

Hi Im new to forex but I hope to be able to trade currencies in a kind of circular fashion (from one currency straight across to others before coming back to base again) with attention to currency correlations. To do this I have so far identified that I need to find a broker that deals in physical delivery of currencies.

During this investigation I have struggled to find any brokers that can deal with a process of this sort except for ODLsecurities (http://www.odlsecurities.com/uk/forex.html#) who seem to be relativly uncharted by most of the review makers and therefore it is hard to be sure as to whether they are trustworthy.

The reason I am under the impression that such brokers exist is because wikipedia provided me with this valuable piece of information;


"Retail forex brokers

There are two types of retail broker: brokers offering speculative trading and brokers offering physical delivery i.e. the bought currency is delivered to a bank account.
Retail forex brokers or market makers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at $25–50 billion daily, which is about 2% of the whole market. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks, and might be subject to forex scams" (http://en.wikipedia.org/wiki/Foreign..._forex_brokers)





Any thoughts on the subject would be well received and most helpful.

Thanks Andrew.

Mystro, sorry for the very late response. But I too have had the need to find a physical delivery broker. And I ended up with Velocity Trade, they are owned by a few large banks but they work with small to mid size companies and individuals. They do my physical transactions at almost the spot rate, about 10-15 points off, but that sure beats any bank and the few fx brokers who dabble in the physical. They have a simple platform if you don't want to call in. www.VelocityTrade.com. I think this will suit your needs. Good luck

Oanda FxGlobalTransfer and Interactive Brokers can do it too. You can deal on their spot-rates - so its no different if you trade on a margin basis or delivery and from a "scam"-perspective its the same. There is a flat fee involved for delivery, so trading that way only makes sense if its a longterm position and of sufficient size so that the fees play a minor role in relation to the PnL of the trade. It however eliminates the broker default risk.