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Any Broker with pair USD/BRL (exotic)??? Any Broker with pair USD/BRL (exotic)???
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  #1 (permalink)  
Old 04-25-2007, 11:35 PM
 

Join Date: Apr 2007
Posts: 2
Unhappy Any Broker with pair USD/BRL (exotic)???
Hi Everyone,

I'm Brazilian and would like to trade Brazilian Reals against the US Dollar. I have not been able to find an FX broker who has this pair. Would you know of anybody??

I'm located in Richmond, VA, USA.

Thanks,

Jay
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  #2 (permalink)  
Old 04-26-2007, 01:49 AM
stucros's Avatar
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Join Date: Mar 2007
Posts: 42
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Be interesting if anyone comes up with anything but i would say that no retail broker would/could quote it. You may or maynot know that BRL is a non deliverable so although there is a spot price that is fixed daily you cannot trade it. Consequently every bank/hedge fund gets exposure through an OTC NDF (essentially a CFD) and i'm of the opinion that no ECN (EBS Reuters Lava etc) would offer it meaning it would it be hard for a retail broker to quote a price or lay off risk.
I reckon you could get MXN or THB if you like the more exotic things in life.

bon chance!
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  #3 (permalink)  
Old 04-26-2007, 09:27 AM
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Join Date: Mar 2007
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Excellent answer stucros! I saw your post in the "how old" thread. Please lend us your expertise more often.
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  #4 (permalink)  
Old 04-26-2007, 12:51 PM
 

Join Date: Apr 2007
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Thanks Stucros! It's a bit disappointing, but...

Thanks again.

Jay
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