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Broker for currency options?

  • #1
  • First Post: Nov 2, 2010 12:26pm Nov 2, 2010 12:26pm
Where do you guys trade currency options? I am looking for the basics. If anyone know where I can see some free real-time quotes would be appreciated as well. Thanks.
  • #2
  • Nov 2, 2010 4:59pm Nov 2, 2010 4:59pm
OptionsXpress.com is a good place.
  • #3
  • Nov 2, 2010 10:50pm Nov 2, 2010 10:50pm
i will check them out. they offer currency futures and currency options?
  • #4
  • Nov 2, 2010 10:55pm Nov 2, 2010 10:55pm
i see their fees are 7 and 12 bucks for futures and options respectively. is this a decent price?
  • #5
  • Nov 3, 2010 3:02am Nov 3, 2010 3:02am
Do you mean Exchange Traded Currency Option? or OTC currency options?

For ETO on currency any reputable US broker, OE/ TOS/ IB etc
Also check out ETOs on Currency ETF by rydex ,, example stock code = FXA = AUD/USD

For OTC Currency options( market maker)
There is not much choice I think.. it seems Saxo bank and it's white label around the world..
  • #6
  • Nov 3, 2010 9:39am Nov 3, 2010 9:39am
Quoting fsufootball42
i see their fees are 7 and 12 bucks for futures and options respectively. is this a decent price?
Don't know if it's a good price or not, but it is definitely cheaper than dealing with a human broker (ie. in a bank). I've heard that Interactive Brokers is the cheapest (0.70 per options contract) but you need at least $10K to open an account there. I don't think there's a demo available...I could be wrong.
  • #7
  • Nov 3, 2010 10:02am Nov 3, 2010 10:02am
Thanks for the help guys. I am trying to find ways to do the AUD carry trade with some put protection and its not seeming to work out. Are there spot options in forex? Rather that buying a put on a future contract, can I buy a put on the spot price of the AUD? Thanks!
  • #8
  • Nov 3, 2010 10:34am Nov 3, 2010 10:34am
Try Nadex.com. I believe they are an offshoot from IG markets and offer forex options. That is about as far as I got into it with them.

Here is another thread related that might offer some more insight.

http://www.forexfactory.com/showthread.php?t=173735
  • #9
  • Nov 3, 2010 10:34am Nov 3, 2010 10:34am
Quoting fsufootball42
Thanks for the help guys. I am trying to find ways to do the AUD carry trade with some put protection and its not seeming to work out. Are there spot options in forex? Rather that buying a put on a future contract, can I buy a put on the spot price of the AUD? Thanks!
This might not be what you're looking for, but you might be able to use it to your benefit (binary options). Not sure if they do AUD though...

http://www.nadex.com/

Also, there's a thread here about this type of instrument:

http://www.forexfactory.com/showthread.php?t=173735

Edit: ha, above post beat me to it...
  • #10
  • Last Post: Nov 3, 2010 10:39am Nov 3, 2010 10:39am
Quoting TC East
Edit: ha, above post beat me to it...
We can call it a tie
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