Any Broker with pair USD/BRL (exotic)?

Beginner Questions
1

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

2

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!

3

Excellent answer stucros! I saw your post in the “how old” thread. Please lend us your expertise more often.

4

Thanks Stucros! It’s a bit disappointing, but…

Thanks again.

Jay

5

That would be nice to have a carry trade with this pair. With a 10.16% rate it could make me “riach”!!!:rolleyes: