No we don't. The options on FX futures are not traded on Globex. I believe they are still pit traded.
Geeeesus Crust, How do I get in this business? You are all the same people that got all worked up over brokers that get paid for order flow? This is 5 times worse!!! nitro
Thx for this info about Ib. I think that option on FX futures are traded also on Globex if you check this link: http://www.cme.com/products/currency/products_currency_canadiandollar.cfm BTW, could you give the math on how much it will be required for to trade 1 FX future contract on Cnd dollars (1 contract is 100,000CAD$, about 70,000 U$ in the moment), does it mean that it will cost 14,000U$ for 1 contract because the leverage is 5:1 ?
Sorry, I should have been more specific. They are traded on Globex - but only outside of regular trading hours. During regular trading hours they are traded open outcry only. (A similar situation to the big S&P contract). We will not offer them until they are electronic during regular trading hours. For Candadian futures the contract size is C$100,000 The leverage is alot more than you quoted. The margin requirement is: US$1,250 initial, US$1,000 maintenance (daytrading margin is half or the above) http://www.interactivebrokers.com/html/marginRequirements/index.html
I agree. Seems like a wonderful racket to me, and especially because it's legal. I wonder how come the mob didn't get in on it (or did they invent it?) And don't you just love some of the names as well - I notice one advert at the top of the page is for a comapny called 'Gain Capital' interesting choice of words for the name isn't it - Of course no-one is ever going to choose the name 'Come to us so we can take your capital'... Best Natalie
I just feel Refco is better than FXCM, and have just opend the account recently. A member in this thread said they are same like twins, but does FXCM offer the same service which RefcoFX offers? http://www.refcofx.com/vscomp.htm?PHPSESSID=2a648d1da5ad15d2c205d8925ef4c678 I understand such a good service can be provided only with a broker who has a solid financial base such as Refco, and FXCM is not the case. I heard FXCM often has stop-slippage while RefcoFX gurantees they don't have it. Best Ken
Stop-fishing for big marketmaker is even easier on futures. They also practice frontrunning. Both practices are prohibited but they do exist. Nothing is perfect in this world.
There's a huge difference here. A "big marketmaker" may fish for stops on the futures - but that's what he's doing - fishing - if he fishes to far from the interbank market he will get run over. As opposed to the situation where you deal with one market market - who knows in advance where your stops are. As for frontrunning: 1. I send my order electronically and its displayed on Globex within milliseconds - how am I going to be a victim of front running? 2. While there is an interbank market as a check on futures prices, its going to be pointless to step in front of a large futures order.
Yes, I agree when trading electronicaly front running seems imposible. Concerning the stops-fishing. If it's done on futures market all prices go to official T&S and it's almost impossible to cancel the deal which took one's stop. When forex market maker takes stop on price which is far from interbank market it is very possible to force the MM to restore position. Had seen that many times. My point is that I'm not saying that every one on the market is a cheater, but shit happens.
At end of the day all the major brokers are with the NFA etc so do have too adhere to the regulations, if they had even a hint of bad press then they can kiss any clients goodbye. I get my ForEx data feeds from a interbank source and place my trades with FXCM, their prices are always within the pip spread of the interbank source, and I can always compare price history if i forget my tin foil hat and think their out to get me.