Where can i trade OTC currency vanilla options?

Discussion in 'Options' started by jjk2, Aug 5, 2007.

  1. jjk2


    for the past 3 days i've been searching and searching and still find myself without clear answers.

    besides Saxobank, and IKON, who offers OTC currency vanilla options american style?

    MBT - no.
    IB - not sure
    Infinity Brokers - What is the cost?
    CME - how do i connect to here? they have currency options but no idea about the costs.

    i like OTC because i can customize strike, and expiration ( iwill be needing no more than 2 days)
  2. Saxo and Ikon are the only retail OTC that come to mind. There are white-lables of Saxo's product in the US, such as RCJ. I believe Alaron offers a white-label of Ikon's software.

    UBS takes offshore accounts with 500k or more.
  3. jjk2


    argh...this is not good.

    am i doomed to only those two bucketshops?

    i mean, are there any support by ECN like MB or IB at least supports this ?

    the main reason i am into currency options is the fact that stop-losses are a real killer. I can trade with very high success rate, but i am not using any stop losses. i am worried, no i am confident one trade can wipe out my profits, thus limit myself t othe premium paid on a vanilla option.

    however, im beginning to realize, after reading through all of the 33 pages of results on the search "currency options", that currency options are no exactly what you would expcet from a equities option
  4. What about OTC vanilla equity options? How can these be traded?

    I have extensive experience with non-OTC equity options.
  5. MTE


    UBS and the like, but you need a sizable account to trade those.
  6. PLaces like the CBOE and PHLX used to offer FLEX options on equities which essentially was an attempt by them to replicate OTC options. The PHLX used to also offer FLEX options on currency. I dont know if any of those products are still available but you should be able to contact those places to find out.
  7. jjk2


    yup contacted them, they no longer offer OTC options.

    CBOE doesnt deal with any currency options whatsoever.

    PHLX only has currency options but its exchange listed.

    EFXgroup has no plans to support currency options.

    Not looking good. :mad: :mad: :mad: :mad: :mad:
  8. How abour BarX from Barclays"?

    I cannot find a link from UBS that shows the account min for FX tradings acounts though their demo software on the site is generations above Saxo or IKON