Hi,
Its hard to find a broker that offers forex options. The one I know is Saxobank. When I tried the demo account, it lets you choose the exact strike price (5 pip increments) and the expiry date, day by day. They are way to customized and the pip spread is always 15 pips on most of them. This tells me one thing, saxo bank is trading against their clients, so its in their interest to manipuate the spread and win when client loses.
Why are there no standardized options for forex like they have with stock options (expiry month, fixed strikes) they would be SO MUCH more liquid than those phony currency futures options.
Or correct me if Im wrong, do they exist?
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They do exist. The Chicago Mercantile Exchange trades options on FX futures. Why are they phony? The CME trades millions of FX options every month.
Standard Forex options fetch little profit for the commercial exchangers