Hello David.. I dont know if Im at the proper point in my forex career to want to know the answer to this...but here it goes anyway..
Im wondering, What is the deal with the Chinese Yuan...??? It seems no broker wants to deal with it...one post I found under the search link talks about the CNY being controlled.. Is this a government thing going on?..It just seems that with all the massive trade China has with the free world..there has to be a way to purchase their currency? What am I missing? or am I just another 8th grader trying to do 12th grade work???
Thanks in adbvance for your response...
Jerry

Hi Jerry,

Yes the Chinese government has exchange controls in place to prevent speculation in the Yuan. It is not impossible to trade it however, institutions trade it through the over the counter forwards market which is basically a derivative of the spot forex market which you are trading now.

Two places where individuals can trade the Yuan that I know of are OANDA, The Currency Site: Foreign Exchange Services and Trading and in the futures market. The problem with trading the Yuan with Oanda is since the currency is not liquid the spreads are 60 points or wider and you could theoretically get caught in a position, not a situation which most traders want to be in. Same goes for the futures there is not a lot of liquidity so unless you are looking for a longer term bet then I would stay away.

Hope that helps.

Best Regards,
Dave

see there... I knew there had to be a good reason...better stick to whay I know for a while I guess....Jerry

Jerry
Good question mate, when I was starting out I questioned the same thing. A good sign that you are thinking.

Cheers
Shepparton Shane