Posted by forex at 7:41 AM
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1. Find foreign exchange market brokers that allow customers to trade currency options online. You can get a list of online brokers by doing a simple Internet search.
2. Compare currency option spreads and reputation of brokers, and choose a broker that offers attractive spreads. Spreads are the difference between the price at which you can purchase a currency option (call price), and the price at which you can sell it (put price). Spreads constitute the main commissions that a broker makes. You can check a broker's reputation by contacting its national regulator--the Commodity Futures Trading Commission in the U.S.
3. Open an account with the broker you chose. Deposit funds and start trading. Opening an account is easy and is typically done online. The most popular way of depositing funds is via a bank wire transfer, although some brokers use alternative money transfer systems like PayPal.After you have opened an account and deposited funds, you can start trading currency options.