FX Option trading to hedge my account

Discussion in 'Options' started by Adam777, Sep 29, 2021.

  1. Adam777

    Adam777

    Hi

    I just opened a Tastyworks account, but the basic margin a/c doesn't have access to futures, and I need to hedge my USD currency risk as I'm from Australia. Where else offers FX option spread trading? I can't do Interactive Brokers as they now need very high account minimums for options trading in Australia. Does Oanda still offer options? I'm not sure of my choices
     
  2. destriero

    destriero

    Oanda does not offer OTC vol any longer... I can tell you why.

    CME stuff is all you can trade, listed. I don't think the PHLX stuff trades.
     
    Adam777 likes this.
  3. Adam777

    Adam777

    Thanks Des. I'll work something out, as I lost a bunch the first time I traded without an FX hedge
     
  4. destriero

    destriero

    I would simply buy some AUDUSD at Oanda at 50x.
     
    Adam777 likes this.
  5. jamesbp

    jamesbp

    Have a look at IG Australia https://www.ig.com/au/welcome-page

    As IG have just bought TastyTrade/TastyWorks there is a chance that the platforms may merge over time
     
    Adam777 likes this.
  6. Adam777

    Adam777

    Thanks guys. I think it's a better option than FXA, which has too little volume