What's going on with Betonmarkets?

Hi Traders,

About 3 weeks ago, BOM raised their minimum bet duration from 1 day to 7, and it looks like their pricing also went up.
They keep saying this is due to an "Issue with their pricing mechanism", and that they will bring back 1 day betting, but they cannot say when.

Any idea what is going on there? I would like to try a daily strategy, and I wonder whether I should wait for them.

Any ideas?

Thanks!

BOM have been morphing their product on a regular basis for many years now. Everything from longer term bets to the Mickey Mouse 'run bets' have been changed consistently.

But they are still there. Essentially the same old BOM, still clocking along in an era of fancy dan Binary Options brokers that all seem to have sprung up in 2010.

Ultimately you take the rough with the smooth with all these companies, and in the case of BOM whenever there has been an 'issue with their pricing mechanism' (i.e. more winners than losers ) they have never been slow to shift the goalposts in their favour. Based on past experience i'd be confident the daily bets will return (probably slightly tweaked).

But speaking as someone who has used them for over six years, I think they are okay. They are relatively upfront (e.g. about preferring you to lose..), and they do pay out.

I used to make fortunes with BOM - but as Torch has said, they will tweak the bets until it becomes impossible to win. Once they have got rid of the consistent winner they will probably tweak them back again. I used to bet on 10 minute intraday moves - they got rid of the 4th digit (it was 4 digits in those days) requiring the price to move 10 points or more before a win could be claimed - needless to say, I moved on, and I would suggest you do to...

x4x - just out of curiosiy, where did you move on to? Did you find another reliable fixed odd provider?

I worked out that no one offering fixed odds can hedge against losses, therefore they won't let you win consistently - so I moved to spread betting.

Just typical isn't it. I spend a lot of time developing a strategy that works on 1 day one-touch binaries at BOM and they move the goalposts.

I was wondering if they could ever hedge their losses and seems to makes sense that they can't, BOM just can't be called a "broker" in any way. They're a bookie through-and-through.

*sulks and moves on to spread-betting, with the tide*

I was gutted when they messed up my strategy, but you're better off moving to a spread betting company anyway - at least if they ever start playing games, you can move on to DMA.

I have been using bom for 5 years without complaint and regret. They are still the best in my opinion.