Trading FX Options is a great way to bet on the direction of the U.S. dollar against other major currencies without opening a Forex account. Today, I’m going to show you a video that explains how these FX options work.
Basically, the options are based on the relationship between the U.S. dollar against the other currency. If you are bullish on the U.S. dollar, you buy a call. If you are bearish, buy puts. For your convenience, here are the different symbols.
- AUX – Australian Dollar
- BPX – British Pound
- CDD – Canadian Dollar
- EUI – Euro
- SFC – Swiss Franc
- YUK – Japanese Yen
The great thing about it is that you can trade these as long as you have an options account. (If you don’t, look into TradeKing since the video talks about using that broker to do these trades)
Click Here to Open a TradeKing Account
Pretty neat huh?
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