Forex Options Strangle System

Fintec
Downloaded the demo but it does not have FX options!

Why don;t you try Citifx by Citibank additional bonus is they put your money in abank so some protection of funds
The platform is from Saxo

12/1/10 - 1/31/11

Sure it does, you need to download Finotec Sky Trader:-

http://www.finotec.com/platform/sky-trader.php

I'm trying the FX Options demo also,........click on Option in the Trading Window...

CSPIP
Your link takes me toa log in page , I tried the Download demo Click
http://www.finotec.com/platform/sky-trader.php
It also takes ot a log in page by opening java

Yes, its abit different. Took me some to work it out, it runs on Java and its best to download the Main Java file and login through that.

Right click on the java file and download it and let it run,.....it downloads some other files it runs. (if you have Java installed). Sign-up for the demo account and input that into the Java app.
First pic is after running 'sky.jnlp'....

CSpip
They used to have it
Please wait for a site operator to respond. https://server.iad.liveperson.net/hc...o/chatinfo.gifYou are now chatting with 'James'
James: Hello
James: how can i help?
mike: Wheer can i download the FX options platform
mike: the website links just takes me to a log in page
James: we have spot forex for now
mike: hang on your website say
James: yes, we might have it later
mike: so what is skytrader
James: sky trader platform - you can trade forex, commodities, CFD's and equities
James: at interbank spread
mike: http://www.forexfactory.com/showthread.php?p=4360501
mike: this guy says u have FX options
James: yes, we used to have

To quote Homer Jay. Simpson "And thats the end of that chapter..."

So to summarise, if you want to open to sell and trade OTC, the choices are basically Ikon FX & Saxo bank. The spreads and margining requirements are better on Ikon, but Saxo offers more currency pairs. My only aversion to Ikon is having to hold options trading accounts in US dollars.

If you want to trade ETO then Interactive Brokers are the way to go.

BTW I have had no response from Alpari US on the questions I asked them about their options platform. So I take this to mean either their staff don't know the answers (which is poor) or they do know the answers but didn't want to give them because they know I won't be happy with the response (which is even poorer!)

Also, previously I mentioned trouble withdrawing money from my Ikon account. I have since done it again and received the money within 48hrs. It turns out that the problem occurred on my first withdrawal due to a major meltdown of National Australia Bank's IT systems - which took them weeks to fix and had all kinds of flow on effects with other Australian banks (ie. it was not Ikon's fault).

Does anyone have any experience with the Ikon FX Prime platform telling them that it cannot quote an option because "the selected expiry price is today"? I'll request a quote for tomorrow, and it will give me this error, even though the platform's calendar shows the correct date. It will only give me options for 2 days away or more.

Edit: Customer support said option quotes have to be requested "more than 24 hours since opening date." I'm not sure that's entirely correct, as I seem to be able to open options for tomorrow this morning. Must stop being offered later in the day.

Yes, it is something to be aware of. All quotes revert to dealer quotes in the week of expiry and you can't trade into/out of your position from 24hrs prior to expiry. You need to keep this in mind if you have a short position near your strike price close to expiry. You may get stuck and be assigned - tread carefully!

[quote=skoda2008;4363666]So to summarise, if you want to open to sell and trade OTC, the choices are basically Ikon FX & Saxo bank.

- Ikon does not have SPOT and OPTION in one platform / a/c
- Saxo has SPOT and OPTIONS in one platform so you can cross margin and do Covered calls
Also Saxo's platform is far user friendly than Ikon's
By the way there is also bad press about Saxo in EU and in Australia
- I believe Saxo has many white label partners around the world I guess from security point of view I would go for CitFX 9 unfortunately they don;t take non US clients
I am also searching for Saxo whit labels where client money safety is paramount .

By the way I think the earliest expiry for Saxo Options is 1 week

By the way Ikon has a platform called Quantum wich have SPOT and Options in one
BUT it is only for demo no real accounts offered yet

http://67.29.176.151/Rqpage/FxOnlineUserLogin.asp?SalesmanCode=29630&IBCode=0

One of the Saxo White label in Australia

http://ebridgetrader.com.au/freetrial/

When you open a real account with Ikon you use Prime for options trading and Mega for trading spot. They both access the same funds from the one account and the margins do offset each other correctly. In demo format the accounts are not linked, but in real life they are.

I tried several of the Saxo white labels in Australia (Saxo Singapore sent me a list) & they all inflate the spreads to ridiculous levels. Saxo wont accept Australian customers directly.

The Saxo platform does look prettier, the Ikon software looks like it was written in visual basic. I still use MT4 for any technical analysis / price monitoring and just use the options software to trade the options & check my account balance - so it doesn't need to look pretty. The Alpari options platform looks the best IMHO, it's a shame they don't want any new business.

SKoda
The Alpari options platform looks the best IMHO

Which Alpari ? Ul? US?
Do you have a real options account or a demo

With Ikon if the 2 diff platforms cross margin that is good but hope the Quantum platform becomes a reality
However I still believe Saxo is more user friendly

As far as I know Alpari US are the only ones with options, but they did not answer some simple questions about the margins and the spreads or whether I am even able to open an account with them, or if it's demo only at the moment. The fact they they couldn't be bothered didn't bode well with me (and Ikon seems to be working for me) so I didn't bother pursuing it.

FYI, points 3 & 6 back up what I'm saying:

http://www.ikonfx.com/contents/prime/prime-14.html

[

FYI, points 3 & 6 back up what I'm saying:

http://www.ikonfx.com/contents/prime/prime-14.html[/quote]

Yes agree but bit cumbersome to have 2 platforms
Wish they combine
By the way which Jurisdiction Ikon u have a/c
They are in US- NZ- Dubai all over the place

NZ, but account still has to be held in US dollars (for options).

Can you explain this further? What is the difference between a dealer quote and the initial quote given? Where did you you hear about the 24 hour rule? Is there a certain distance price will move away from strike before I can't trade out of a position as well? Thanks.

All of it was worked out by trading with them, I didn't hear about it from anywhere.

What I meant was in the last week you have to use the request for quote function, rather than auto-execution, even if the price is quoted in the table on the screen. The same thing occurs if you select a strike price or date outside of those offered on auto-execution (ie. anything not in the table on the screen). I avoid the pairs which are on request for quote at all times (GBPJPY, NZDUSD & Silver). A dealer quote is likely to have a spread higher than 10 pips - they rip you off, so it's best to avoid it if you can - sometimes it's unavoidable.

In answer to your last question, no, but obviously if you sold & then bought straight back you would lose the spread.

Another thing is to make sure you always tick the worse fill box and leave it at 0, otherwise you may get filled at a different price.

Unfortunately I only discovered these things once I went live, the demo does not last long enough to be able to test thoroughly. It really is a case of picking the best of a bad bunch, they sure do everything possible to try and extract as much as possible from you. I can live with a 10 pip spread with the occasional 15pip spread if I get a dealer quote vs. the 12-20 I could get at all times by using a Saxo white label.