Vanilla Option brokers

Discussion in 'Forex Brokers' started by Eric1977, Jun 21, 2007.

  1. Eric1977


    If I'm interested in trading mainly Forex vanilla options, are my only choices Saxo Bank and IKON GM? This seems to be what I'm finding from my research. Why isn't there more discussion on Forex option trading? DO retail Forex traders tend to favor trading Spot over Options?

  2. forex162


    Retail Forex shops definitely favor spot over options; there are few firms who are actually still in the business of offering options trading. The only one that comes to mind right now is FXCM LTD, FXCM's UK-based office. See:
  3. Whats wrong with FOPs?
  4. Eric1977


    What are FOP's?
  5. Futures options, see CME website.
  6. forex162


    Well, you can't exactly trade Futures Options with a small account, as the OP requires. If Saxo Bank at 10k min is an issue, Futures Options will require entirely too much leverage for the smaller trader.
  7. Well, its one of the few ways for retail traders to access FX options, as such i thought it was worth mentioning.

    FX options are not as accessible for small traders as other markets, the bulk of the volume trades OTC and much is still dealt via telephone.
  8. Panurgo


    I trade successfully fx options with Saxo from Jan 2005 (dubled my money in less than 2 years), however spreads are large compared to big investments banks.
    If you don't have the amount to go with big banks (minimum acc. is $250000) try with a retail broker. You will be profitable only if you have a real edge.

  9. Eric1977


    Are you putting on various OTM spreads a month out and adjusting them? Do you have that "edge"? I realize you many not want to give away your "secret", but I can't figure out for the life of me how I can consistently make money with 10 pip spreads (or 8 in the case of SAXO), since from the very beginning I'm getting killed on these spreads.