Exotic forex options brokers?

Discussion in 'Forex Brokers' started by saturnine, Nov 6, 2009.

  1. I keep reading about SPOT (single payment options trading) and other exotic forex option types, but so far my "googling" has been somewhat fruitless when it comes to finding brokerages that offer such services. Can anyone tell me of any brokers (preferrably trustworthy ones at that) that offer these or similar non-vanilla forex options types?

    For the record I've run into the eztrader.com types which seem a bit sketchy and spreads are gaping wide, but I was hoping to find something a bit more 'fair' if that's a reasonable word to use in this sense.

    Thanks in advance.
  2. nadex.com offers binaries on not just forex but commodities and equities indexes, and is also regulated by the CFTC, so therefore legal in the US.
  3. kxvid


    Well there's the sketchy betonmarkets.com Exotics aren't usually exchange traded except in Nadex's case.
  4. I think Saxo offers them.
  5. Unfortunately or fortunately; depending, betonmarkets isn't available in the U.S. where I am. In particular, I was interested in the bets like those offered by betonmarkets but by a U.S. broker. I should have specified that originally. Thanks for the help.
  6. Have you looked at Nadex? Or IGMarkets? IG owns Nadex, fwiw. Nadex is regulated by the CFTC.
  7. I have a little, but what I thought I saw was that they only do intraday bets, or if not, the bets seemed to only be simple ones such as will X be above the current price at Y time. I like the idea of touch and double touch bets as well as longer-term ones as well. Do you know if any of those entities offer such options? Thanks again.

  8. What nadex offers is simpler, they have simple binaries (weekly and multiple intraday contracts), plus they have what is essentially a capped NDF, which lets you trade as if you're trading futures, but with fixed gains and losses. Pretty much everything settles against CME closing prices, but read their exchange rules for exact terms.

    IGMarkets, which owns nadex, offers more choices with options. See this page here:


    I don't know much about the legality of what they offer in the US, but they wouldn't be offering it probably if it weren't legal.

    Let us know what you end up doing, would be nice to get feedback on them. I've only demo'd them.