Any Indians Doing Forex OPTION trading?

#1
Hi All,

I just wanted to know if anybody is doing forex Option Trading regularly? Also it would be great if any one share more info regarding the best online broker to do Forex Option trading, Strategies, Initial investments, Learnings & experiences, Profit Potentials, Softwares / Platforms etc.
Since doing forex trading is a high risk Job, I do like to know about the forex option trading where i think we can reduce our risk. Expert forex option traders please share the informations.:thumb:

Thanks,
Winsome.
 

pipshower

Active Member
#2
If you want to learn about forex options and want to trade it Check out Chicago Mercantile Exchange [CME] website ..they provide it and its most traded out there..
Best of luck..

Hope this helps..
You will get everything on there website of CME with everything out there than me telling you ..I am a spot forex trader .

Regards
Pipshower
 
Last edited:
#3
I hope you guys found the exact link to it..
CME has this link u can read the details in PDF format..
http://www.cmegroup.com/education/product-specific/fx-options.html
They also have introduced emicro forex futures --its best way to start if u want to test the forex futures out..
Here is link to emicro forex futures from CME -
http://www.cmegroup.com/education/product-specific/fx-options.html

There are literally thousands of different things in the world to trade ..I guess thats whole lot of things out there u can try trading..
Best of luck..
Regards
Pipshower
 
#4
Hi All,

I just wanted to know if anybody is doing forex Option Trading regularly? Also it would be great if any one share more info regarding the best online broker to do Forex Option trading, Strategies, Initial investments, Learnings & experiences, Profit Potentials, Softwares / Platforms etc.
Since doing forex trading is a high risk Job, I do like to know about the forex option trading where i think we can reduce our risk. Expert forex option traders please share the informations.:thumb:

Thanks,
Winsome.
Currently using Saxobank for options and testing out ThinkorSwim....they both are good and reputed..
I use options mainly to hedge my open positions in spot market....I see you want the same too. For hedging you won't need any big trade secret just the basic understanding of option pricing and how to match your spot/future orders with it as the price differs vastly in short period of time in forex.
I Started reading at Nasdaq's site but you can you any source investopedia, thinkorswim.com etc apart from that McMillan On Options by Lawrence G. McMillan is one of the best.
 
#5
Currently using Saxobank for options and testing out ThinkorSwim....they both are good and reputed..
I use options mainly to hedge my open positions in spot market....I see you want the same too. For hedging you won't need any big trade secret just the basic understanding of option pricing and how to match your spot/future orders with it as the price differs vastly in short period of time in forex.
I Started reading at Nasdaq's site but you can you any source investopedia, thinkorswim.com etc apart from that McMillan On Options by Lawrence G. McMillan is one of the best.
Wow!! atlast i found one person from india doing forex option trading. I need more information regarding the Deposit and withdrawal method. Also it would be great if you provide some more infos like Demo account, spreads, etc.
 
#6
Currently using Saxobank for options and testing out ThinkorSwim....they both are good and reputed..
I use options mainly to hedge my open positions in spot market....I see you want the same too. For hedging you won't need any big trade secret just the basic understanding of option pricing and how to match your spot/future orders with it as the price differs vastly in short period of time in forex.
I Started reading at Nasdaq's site but you can you any source investopedia, thinkorswim.com etc apart from that McMillan On Options by Lawrence G. McMillan is one of the best.
Hi AdaG, we are waiting to get the information from you. Please share your experience.:)
 
#7
Wow!! atlast i found one person from india doing forex option trading. I need more information regarding the Deposit and withdrawal method. Also it would be great if you provide some more infos like Demo account, spreads, etc.
The best platform I find is Thinkorswim, Saxobank is also decent enough for me. You can try both through demos if you want. But I think less than 10K USD deposit is useless if you are using options for hedging purposes. Although I haven't tried CME but my friend had shown me its platform which he uses and it looks decent. I have only look at it and never tried because I saw it on webchat. Commissions are competitive everywhere and if you can give them higher volumes they will be happy to negotiate.

They both use wire transfer for Deposit/withdrawal which doesn't take more than 2-3 days with HSBC and ICICI. Although Saxobank keeps the money with HSBC HK or singapore (you can choose); which means your trading account is very much like a savings account (the interest rates paid would obviously be different because of the holding positions) This thing makes the direct wire transfer from any HSBC account from India very easy. Thats why I went with them first. I want to use saxo account as central account for funding TorS and waiting for approvals.

Their customer service is excellent even for beginners and they are very helpful at any stage. You will have a relationship manager and his dealing desk contact numbers for any emergency.

Minimum for Thinkorswim is 3.5K$ and saxo is 10K$. You can try something like Ikon GM for 1K$ but their platform is horrible and laggy. Another thing is do not try binary forex options (I don't like to say please but take it as request).

Rest you can find here:

Thinkorswim:
https://www.thinkorswim.com/tos/displayPage.tos?webpage=funding

Saxobank:
http://www.saxobank.com/en/trading-platforms/account-faqs/pages/market-trader-faqs.aspx#

HTH.
 

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