Brasilian Real

Discussion in 'Forex' started by Surdo, Jun 20, 2007.

  1. Surdo


    What is the most efficient way to trade the USD/BRL?
    The spreads at most US bucket shops are way too wide.

    Banco Central Do Brasil has very narrow spreads but you need to be a resident to trade locally.

  2. Daal


    liquid trading of BRL probably wont happen anytime soon. the government is getting way too much heat due the exchange rate strength so they wont open up more ways for investment since it would add insult to the injury(im brazilian)
  3. Surdo


    So there is no way to obtain access with leverage to USD/BRL trading with a decent spread?

    I know for a fact banks are making a fortune on these moves.
    I refuse to trade with a bucket like Saxo.

    As I mentioned the spread for CASH is quite tight.


    el surdo
  4. Daal


    BRL futures contract at CME is the only way I know. dunno on how bad it is the spread. contract value is $50K US. I talked with oanda but there doesnt seem to be a plan from them any time soon. TRY seem pretty correlated with the BRL since they are similar plays, oanda has them and it pays around 16% a year
  5. Surdo


    The volume is non existant at CME.
    Can you check on your platform, the symbol is BRU07 on TradeStation and I do not see any volume at all.

    It has a 1210 PIP spread.

    I hate watching a pair move without being involved!

    el surdo
  6. Daal


    Im with ib im not sure of the symbol but I heard the low volume complaint before. as a I said TRY is like a BRL play but without as much steroids. it isnt as extreme in movement but the carry is bigger
  7. Lucrum


    I tried to get a quote on IB and so far can't get an FX or globex quote.

    According to CME yesterday's RTH (I assume pit) volume was 30 contracts, globex volume was zero and the open interest is 8375 contracts
  8. Surdo


    It is NOT possible to trade USD/BRL @ any Fx shop in the USA.

    Can a Brasilian trade Retail Fx in Brasil with a reputable firm?

    This could be done LONG simply in a bank account, but I am looking to SHORT the BRL.

    I am going to be in Sao Paulo in a few weeks to work on this.
    Any suggestions.