Reliable broker for USD/RUB | Forex Factory

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Reliable broker for USD/RUB

  • #1
  • First Post: Dec 29, 2014 12:20pm Dec 29, 2014 12:20pm
USD/RUB is an attractive pair, but due to the unpredicted behavior, it is needed to include a long-term strategy too. Thus, when you open the position, you need to be confident that you can keep the position open until reaching the target. However, many brokers face problems in providing brokerage for this pair due to the political issues with Russia.

I understand if a broker stop offering USD/RUB for trading, but forcing the client to close is not fair (though they may have justification for their action). I had this problem with two brokers (FXCM and Dukascopy). They forced me to close my USD/RUB positions within two days. Within two weeks, my positions closed with huge losses could be profitable.

Now, I am looking for a broker I can trust that will not close my position, even if stopping to offer USD/RUB.

I think it is not a big expectation from a broker.
  • #2
  • Dec 29, 2014 2:13pm Dec 29, 2014 2:13pm
Go on the futures market.
In the worst case scenario, you take delivery. If you want to bet on the RUB, you will get your Rubles and then just have to open a bank account in rubles and you can withdraw them. Or if you want to bet against, you will have to deposit Rubles to your account to cover the Rubles you will be short after delivery.

USD/RUB contract is 2.5 million RUB, it's only approx 40k USD at the actual exchange rate, so equivalent to 0.4 MT4 lots.
Ticker = RUR

Good broker to trade this with: Interactive brokers.
  • #3
  • Dec 29, 2014 11:33pm Dec 29, 2014 11:33pm
Quote
I understand if a broker stop offering USD/RUB for trading, but forcing the client to close is not fair
yeah weeks ago many broker suspend and cease out usdrub from their platform, and there's several report entry position are force close, i dont know if the brokers taking responsible for this one sided act. firstly i dont take a glance with usdrub, and i never trade this pair ever since, just when many people talk about it especially at FF ( there's a thread discuss ruble, the one with putin meme's ) i take part my trade with armada markets platform, and when the rumours spread many brokers suspend the pair, several member said got an email from their brokers regarding those issue, while i'm not getting any email from armada and my ruble trade run normally.
  • #4
  • Dec 31, 2014 2:50am Dec 31, 2014 2:50am
Quoting etrade
USD/RUB is an attractive pair, but due to the unpredicted behavior, it is needed to include a long-term strategy too. Thus, when you open the position, you need to be confident that you can keep the position open until reaching the target. However, many brokers face problems in providing brokerage for this pair due to the political issues with Russia. I understand if a broker stop offering USD/RUB for trading, but forcing the client to close is not fair (though they may have justification for their action). I had this problem with two brokers (FXCM...
Mess with rouble is over, I think it is time to switch attention to other pairs. Personally I made some trades on Hotforex, ruble trading is still running there, not 24/7 there are trading sessions when you can only trade. But I won't advice you to continue longing USD/RUB, oil won't impact it anymore, as 50% of ruble drop was panic and attack from speculators and as I said its over..
  • #5
  • Jan 20, 2016 9:34pm Jan 20, 2016 9:34pm
Hello US Traders: I trade gold with two foreign brokers just fine. One of them has USD RUB: Forex Broker Inc. If you decide to investigate either one your efforts will be rewarded. I also use Tallinex. To he who hesitates, the US government is distracted and it has been leaving me in peace. Not a peep.
  • #6
  • Jan 21, 2016 1:28pm Jan 21, 2016 1:28pm
Quoting Mevo
Go on the futures market. In the worst case scenario, you take delivery. If you want to bet on the RUB, you will get your Rubles and then just have to open a bank account in rubles and you can withdraw them. Or if you want to bet against, you will have to deposit Rubles to your account to cover the Rubles you will be short after delivery. USD/RUB contract is 2.5 million RUB, it's only approx 40k USD at the actual exchange rate, so equivalent to 0.4 MT4 lots. Ticker = RUR Good broker to trade this with: Interactive brokers.
The rouble future is cash-settled in USD. Also you will have a hard time finding a retail broker who allowes taking delivery at all. Other than that, CME is not a bad choice for usd/rub.
  • #7
  • Jan 22, 2016 7:50am Jan 22, 2016 7:50am
Quoting shrike
The rouble future is cash-settled in USD.
I just checked, and you are right, I missed that part.

Quoting shrike
Also you will have a hard time finding a retail broker who allowes taking delivery at all.
I'm not sure if you're talking about Rubles or futures contracts in general.
Interactive brokers allows taking delivery of all major currency futures contracts without any problem.

And for Rubles, you can have an account denominated in Rubles with them if I'm not wrong, and you can trade it with their spot forex pairs. (including converting physical currency into and from Rubles instead of entering into a forex trade, as the concern of the poster was to not have his position closed)

So correction: Use the future contract to trade and if you're worried of having your position closed in any way, convert physically currency with IB.
  • #8
  • Jan 22, 2016 8:34am Jan 22, 2016 8:34am
"Interactive brokers allows taking delivery of all major currency futures contracts without any problem."

Ok, i didnt know that. There was a thread on another board looking for a broker who can arrrange delivery for gold futures (which is simple compared to energy or ags) and all the ususal names in the retail space couldnt. SO i assumed its the same for fx.
  • #9
  • Jan 22, 2016 9:02am Jan 22, 2016 9:02am
You're right, it's a little bit more difficult for commodity futures, and IB doesn't allow any of them. They don't allow US Treasuries futures delivery either. But forex futures, no problem at all. You just have to let the contract expire, and everything is done automatically.

If you want to take delivery of commodities, you have to go with more commodities oriented brokers, like Sucden or Admis. Or with a more "upscale" broker like IntlFCStone. These aren't "retail" brokers anymore. There are still a few options for a retail customer, like efutures for example which allow physical deliveries for a $250 fee + $50 per contract.
  • #11
  • Jan 26, 2016 7:41pm Jan 26, 2016 7:41pm
I've been talking about Interactive Brokers in other threads and just want to know how accessible they are for retail forex? I thought they were only futures and for the big hitters?
  • #12
  • Jan 26, 2016 8:02pm Jan 26, 2016 8:02pm
You need $10K initial deposit. And minimum commission per ticket is $2 in FX, so trading smaller orders (like less than 100k/1 lot) is expensive. And levarge is 40:1 or less depending on currency. Other than that, there is no special requirement. But its all on their website for everyone to read..
  • #13
  • Jan 31, 2016 5:53am Jan 31, 2016 5:53am
Have a look at these specifications, the broker has USDRUB and EURRUB. I work with it, no problem with tarding platform or withdrawal.
  • #14
  • Jan 31, 2016 8:49pm Jan 31, 2016 8:49pm
Quoting shrike
You need $10K initial deposit. And minimum commission per ticket is $2 in FX, so trading smaller orders (like less than 100k/1 lot) is expensive. And levarge is 40:1 or less depending on currency. Other than that, there is no special requirement. But its all on their website for everyone to read..
Thanks shrike. Sorry to make you do my dirty work for me

I more just wanted to get a feeling if any retail FX guys use them instead of your standard retail FX brokers?
  • #15
  • Feb 18, 2016 3:13pm Feb 18, 2016 3:13pm
Quoting shrike
You need $10K initial deposit. And minimum commission per ticket is $2 in FX, so trading smaller orders (like less than 100k/1 lot) is expensive. And levarge is 40:1 or less depending on currency. Other than that, there is no special requirement. But its all on their website for everyone to read..

​those numbers do not seem to bad based on what I'm seeing in the retail FX area for this pair specifically. Or do you know of a better retail source for the USDRUB? IM not looking for futures, but I am interested in brokers that will offer better margin than 10:1. This pair is a very good carry trade this year(unless Ukraine really screws it up again).
  • #16
  • Feb 18, 2016 3:58pm Feb 18, 2016 3:58pm
perhaps we've deviated off of the OP's topic, Id like to echo it since I am genuinely curious as well: is there a reliable(as in, won't scam you, ideally regulated with a solid organization) broker, who offers the USDRUB, with reasonable margins(exotic of course), that will not close out trades when it matters the most?

maybe that's the definition of a unicorn?
  • #17
  • Feb 19, 2016 2:09am Feb 19, 2016 2:09am
Quoting Mr-Humble
perhaps we've deviated off of the OP's topic, Id like to echo it since I am genuinely curious as well: is there a reliable(as in, won't scam you, ideally regulated with a solid organization) broker, who offers the USDRUB, with reasonable margins(exotic of course), that will not close out trades when it matters the most? maybe that's the definition of a unicorn?
The short answer is Yes, this is the definition of a unicorn.

No there is not such thing as a good broker in this case, I have checked a few very reputable brokers in general but when it comes to RUB, they have stopped me out several times for no particular reasons apart from: these are the quotes we get from Russian banks...And we are talking about 4 RUB spreads like the end of the year. That is why you need to have low leverage.
"Bulls make money, bears make money, pigs get slaughtered"
  • #18
  • Feb 24, 2016 1:49pm Feb 24, 2016 1:49pm
Quoting manosk
{quote} The short answer is Yes, this is the definition of a unicorn. No there is not such thing as a good broker in this case, I have checked a few very reputable brokers in general but when it comes to RUB, they have stopped me out several times for no particular reasons apart from: these are the quotes we get from Russian banks...And we are talking about 4 RUB spreads like the end of the year. That is why you need to have low leverage.
​that's great info Manosk. Thanks. if you would be so kind to indulge me. what margin do you prefer to trade in this kind of exotic?
  • #19
  • Feb 29, 2016 11:49am Feb 29, 2016 11:49am
Quoting Mr-Humble
{quote} ​that's great info Manosk. Thanks. if you would be so kind to indulge me. what margin do you prefer to trade in this kind of exotic?
It is rather difficult to say. I dont have a lot of experience in exotic currencies beyond RUB, tried some Mexican peso and some ZAR but time and again I have realized that you have to be humble and calculate the worst case scenario, especially in these times of high volatility. So I would say that in a 100k account, you should have a position max 500k USD/RUB.
"Bulls make money, bears make money, pigs get slaughtered"
  • #20
  • Feb 29, 2016 11:29pm Feb 29, 2016 11:29pm
Hey guys, what's average spreads you got with your brokers on USD/RUB. What is margin requirement? Just want to compare...
I get 4 copecks spread and 1:100 M requirement.
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