broker for trading fx options

[options-george]

What is the best method for a retail trader to trade fx options?

From earlier conversations I have had, I seem to remember that IB would be a good broker for it.

Can anyone provide a pointer for me?

Many thanks in advance.

 

[bootsyjam]

I'm not sure how many people offer it but I think Saxobank UK does. Seem to remember the commissions were fairly punitive though.

 

[options-george]

I'm not sure how many people offer it but I think Saxobank UK does. Seem to remember the commissions were fairly punitive though.

Thanks a lot for your suggestion on this one. I will check it out.

It seems that the CME offers a lot of FX options.

 

[options-george]

I had a look through the Saxobank website and it looks good. It seems that this is what I am after. The spreads on the options on liquid currency pairs seem ok, around 7-10 pips for basic accounts.

http://www.saxobank.com/prices/fx-options/

I have also asked the question on the TradeStation forum, as to whether TradeStation offers trading in the CME Global currency options

A list of the currency options available on CME Globex is here:
http://www.cmegroup.com/trading/fx/fx-options-traders-handbook.html

If anyone out there is trading currency options, then it would be great to get in touch. I am currently only trading CFD's but do have a reasonable amount of options knowledge (thanks to some market-making experience in the past), so would very much like to work together with somebody on it.

 

[suntan]

I trade currency options through saxobank. Happy to discuss.

 

[moka2]

I trade currency options through saxobank. Happy to discuss.

Saxo bank currency options are Market Maker model!
A true exchange traded Currency option are on Currency Futures on ICE and CME

 

[fxstrategist]

most fx option brokers are market makers, especially binary option brokers, the best way to trade options of any kind is through the CBOT o CME.

 

[RockyT]

Hello,
I'm thinking about binary option trading. Who has experience with that? I'm comparing brokers - OptionTrade and 24Options

 

[moka2]

Hello,
I'm thinking about binary option trading. Who has experience with that? I'm comparing brokers - OptionTrade and 24Options

Stick to exchange traded options and build your own binary trades
Most of these Binary are market makers + not based in places where client money protection and overall regulatory oversight is relaxed
Think if Alpari was in these countries what chance clients had to get the money back!

 

[trade2bpro]

Hello,
I'm thinking about binary option trading. Who has experience with that? I'm comparing brokers - OptionTrade and 24Options

Optiontrade is powered by broker and 24Options is a independent broker , I don't trade binary options too much but I did hear many bad -feedback about 24Options. I think you should be careful with 24options.
Check its reviews here:
http://www.forexpeacearmy.com/public/review/www.24option.com

 

[gerryg]

Hello,
I'm thinking about binary option trading. Who has experience with that? I'm comparing brokers - OptionTrade and 24Options

Hadn't a chance to try 24Options, but spend about 2 month trying to make money with Optiontrade. A bit difficult to determine timeframe for trades, sometimes picked incorrect period and despite right direction was getting in a loss. Ladder type of betting seems to be the way out from inaccurate timing but haven't tried it yet. Overall Optiontrade is very comfortable platform for trading, now using it to hedge some fx trades as a secondary diversification source.
Cheers.

 

[RockyT]

Stick to exchange traded options and build your own binary trades
Most of these Binary are market makers + not based in places where client money protection and overall regulatory oversight is relaxed
Think if Alpari was in these countries what chance clients had to get the money back!

I see. but OptionTrade and ******** are in the same group. I have good experience with HotFX so I thunk quality is the same.

 

[moka2]

SO Rocky what are you saying? my point was about transparency and legitimacy of such Binary Options brokers compared to large exchanges! If if you guys want to take chances with such so called tinly regulated brokers it is your money!

 

[RockyT]

Ok but I dont treat binary options so seriosly. I make real money on stock and forex. But comparing binary broker optiontrade looks safety I whink

 

[moka2]

Ok but I dont treat binary options so seriosly. I make real money on stock and forex. But comparing binary broker optiontrade looks safety I whink

What on earth you mean by they look safter?

Whenever you part with your money you got to take it seriously!
Or areyou just interested in Binary broker's no matter what!