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You are right
i was looking on one of these brokers for kospi200 futures 0,00145% and IB 0,004% and for currency futures 560 per side and IB 1500
Tommip do you trade this products through korean broker?
Can you help answer these questions from other members on NexusFi?
I was talking with Hyundai and Samsung few years ago and there is one key point - after new regulation in 2012 (increase tick value ) they require 15 000 000 KRW to open account.All brokers require that couse it is a new regulation with KRX.So it was no sense for me to open account just to trade one futures,also it is little complicated couse you need to have standing proxy there.
Procedures is on NH Futures site (write nh futures opening account in google ),I cant provide direct link becouse I'm writing just second post on this forum :-) .Finally mangolassi - yes,US citizen could open account If I remember corectly.
Wow last year requirements go up even further.I was asking few persons at few brokers,and most of them... are no interested in having retail foreign client's.They even still not have trading platform in English. From this year minimal requirements are 30 000 000 KRW for futures and ... 50 000 000 KRW for options.This is so ridiculous - putting new small futures to exchange and throwing out retail traders in the same time ;/.Also have in mind that there is big possibility that there will be new tax on derivatives (as it is on stock's ) ... all of this make KRX a dead place.
IB has excellent rates for options in Korea. When I was trading Korean markets it usually worked out to around $1.00/contract for options. (It may even be cheaper if you trade more size , ie, 10 lots, etc...) I think Futures r/t is about $6.60 for K200.
gfmatt - its true if you compare tick value vs commission...but if you try to sell that (naked) option ... then you will need to have more then 10 000 $ margin even if option price is 0.05
Unless you have portfolio margin, selling naked is stupid anyway, even in the US. With IB, I only used calendars, butterflies, and BWBs . Rates were cheap.
How does trading the Korean market work through IB? Do you have to convert your funds into the Won in order to place trades? Or can it be done with the US Dollar?