forex options broker

zemog

Recruit
Messages
2
looking to trade fx options and my current broker ibfx does not support this feature.....does anyone have a reputable broker that offers options, the ones i have found do not have very favorable remarks.
thanks,
david
 

ijustknow

Private
Messages
23
I have been looking for a vanilla option broker as well, however only binary option broker shows up. I hope someone can tell me a reputable vanilla option broker.
 

Roaming

Banned for uncivilized conduct
Messages
142
I have been looking for a vanilla option broker as well, however only binary option broker shows up. I hope someone can tell me a reputable vanilla option broker.
Saxo Bank offers that.

Not sure if it's the same like US Options Brokers: tradeking.com, scottrade.com, schwab.com regulated by the NFA and CFTC.
 

Roaming

Banned for uncivilized conduct
Messages
142
I believe Nadex for US Citizens, Dukascopy and SaxoBank for European Citizens are the Best Binary Options Brokers.

Dukascopy have just released its Binary Option service lately(few months ago), not sure if that can be negative. What I see on its BO Web Platform, they have 90% payout on all pairs. Although they have spreads(low), same prices of Dukascopy ECN Mt4 price feed. At least we know that they make money from the spread and 10% difference between traders investment and payout.
Pros: Regulated Swiss Bank, 90% Payout on all pairs, 1 minute to 60 minute expiry that traders choose to start at anytime, no predetermined expires like most European and others..BO Brokers have(excluding Nadex ofcourse;)).
Cons: New in Binary Option Service, 13 Forex pairs(majors mainly) to trade no commodities indices stocks to trade, fixed 3 seconds delay(other BO brokers have the apply bottom in this delay time to cancel or apply your clicked price in this before 3 seconds end) between click of call/put and order execution that's bad in volatile market, no help after order opened no sell or rollover option, service limited to call/put option no long term(more than 60 minutes) or one touch no touch option.

I think they will improve(add more options) its service by time. Being Swiss Regulated, 90% payout are seductive, no option other than the classic Call/Put can be positive for serious traders who take strict decision without need of fake options help.


SaxoBank regulated Danish Bank offers Binary and Vanilla options.
 

Pharaoh

Colonel
Messages
19,777
Yeah and it regulates the Nadex:D
The only and only example of a US regulated BO broker. It will be interesting to watch.


Dukascopy trying binaries is interesting. I wonder if this is just an experiment or if they will keep them.
 

Roaming

Banned for uncivilized conduct
Messages
142
Nadex is good for US Citizens. Dukascopy and Saxo Bank good for European and others Citizens. etxcapital.com and IG.com are best for UK Citizens.

Saxo Bank has no pure binary options service as Dukascopy offer, they are more like option brokers like tradeking.com and schwab.com US Regulated.

Dukascopy is too big to fail. Not easy to find a broker in Europe that is a Bank, Regulated by FINMA, External Audit by kpmg.com, Registre du Commerce
CH-660-1823004-9(CHF 22'000'000 share capital), Member of the Swiss Bankers Association and Member of ISDA.

Who say that Dukascopy can scam clients for any money and run away are as saying Nadex will do the same and no regulatory body and US authorities can punish it.
 

Pharaoh

Colonel
Messages
19,777
Think I'd hold off on those UK brokers until at least 1 FOS hearing against a binary broker happens.

I know the NFA and CFTC will step in for US brokers. The FCA/FOS aren't quite so aggressive and have no track record on binaries yet.

Roaming, it may be worth asking Nadex and Duka about citizenship requirements. US forex brokers can accept clients from many countries.
 

Roaming

Banned for uncivilized conduct
Messages
142
I can help with the Nadex as its an easy task for me:) While i believe Dukascopy do not accept US Clients(maybe afraid of the Nadex or the latter got an all time US exclusivity for binaries:D), but all or most other countries are welcome.

Nadex requirements are: You must be a legal resident of the United States, maintain an account with a U.S. bank, be within the age of majority in your state of residence(for most states, must be at least 18 years old). You must have a valid Social Security Number or Tax Identification Number, a valid U.S. street address, a valid email address and a web browser that supports either Internet Explorer or Firefox(this is the hardest:cool:)

I believe that all the above Nadex requirements apply on Pharaoh, so you're able to open an account with them and tell us your opinion, only afterwards;)
 
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