Greetings all, sorry if I missed this in a search here but...
... Does anyone know of any online brokers/platforms where when one takes a position in a forex option and it's ITM at maturity you can actually exercise that option and get the actual currency.
I know OzForex offer something like this, but you have to call in for a quote and I've noticed their rates are very poor lately (something to do with this now being a publicly traded company?)
Platforms like Saxotrader will let you deal in forex options but you can never actually exercise these and get the currency. Even with a 'spot' trade at maturity on that platform you end up with a long position in the foreign currency and have to sell that (which will be priced in AUD) and then convert any profit (assuming you made a profit) plus your original AUD into the foreign currency using whatever means you like (Saxo will convert between multi-currency sub-accounts at spot minus 0.5%).
So that makes Saxotrader a similar experience to CFDs, etc? Or did I miss something?
Call me old fashioned, but when I purchase an option to buy currency at a given price on a given date I'd actually like to do that without incurring extra fees and charges
Any tips on where to find this?