- Saxobank: They are a good dealer but are one of the most expensive.
- Ikon Global: Another good dealer but their platform is not so great
- thinkorswim: Access to GFT Forex whitelabel through their options trading platform.

I was impressed with Saxobank's trading application but disappointed that they only offer a short window of time to demo trade with.

I have been demo trading with IKON Global for a few months and I find that their platform while not as good as Saxobank is adequate.

Can anybody tell me what broker offer European styled exchange traded Fx options? I tried the Ikon GM, but I don't know how I can get out of the positon before the expiration date? Is it right that for the OCT typed Fx options , we couldn't exit our positions, let say the Short put, before the expiration date? Then what will happen on the expiration date? Thanks for your replies in advance

With IKON, you have to do the reverse operation to get out of an option position. So if you have bought an option you have to sell an option with the same expiration date, same position size and same strike price. It’s a bit tricky and you have to be very careful as I have made some costly mistakes. Try it in a demo account first.

Ikon will open a spot position in your account in accordance to the option you have bought/sold. I am not sure why they do this as I find it extremely inconvenient. Many other dealers ( IGMarkets for example) cash settle your positions.

Thanks, Liviu for your reply. I am trying the demo with Ikon. I find it tricky and uncomfortable too. I'll try IGMarkets soon

Hello,

I posted in another thread that I am using Saxo through a white label
partner in the US...I have a love/hate relationshp with their back office..nothing is transparent, every margin question requies a major
back and forth discussion...I primarliy sell FX options so while the
spreads are horrendous (n the last few months, before they were ok), i
just want the premiums and hpe to avoid having to buy back the option
before closing etc...

I tried IKON too, the demo acount was for too short a period of time and
you did not have real time margin information...you get updated the next
day which was unsettling..though, I i did find the premiums paid for selling
FX options to singificantly better than at Saxo...I just wish they weren't
the only real games in town unless you want to exchange taded optins.

I feel your pain, if you do not take the exact opposite position, you end up with a new position you did not want..I think that both Sax and IKON put you
in the underling fx position on expity either long or short...I didn't realizze
that until one expiry date when I thought was getting cash settled and I ended
up with a long positiong in the euro...