Hedge Street

Does anyone have any experience of trading on Hedge Street - www.hedgestreet.com? This is an American financial betting exchange which offers binaries on commodities, house prices and currency pairs. It seems to have been on the go and growing for three/four years now and it appears to have some large-scale market makers on board. It charges 1% when you buy/sell a position and another 1% if your settlement is in profit. You buy bets in lots of $10 or $100.

I'd be interested to know if anyone has an account with them and, if so, how they find them to deal with. Because they're an exchange, I imagine there won't be a problem with fill refusals, and because they have some hefty market makers I can't see that there would be a lack of liquidity.

Thanks in anticipation
RIWF

Regarding above.

. . . Currently, HedgeStreet only permits legal residents (both individuals and entities) of the United States with an account at a United States financial institution to apply for membership . ..

Pity. It looks as though it might have been another useful earner.

Cheers
RIWF

They have some huge market makers on there and a lot of liquidity see http://www.hedgestreet.com/abouthedgestreet/pressreleases/pressrelease_29.html

I have used them for about 2 years and they have got better and better. A first class outfit to my mind, I like them because they are like Intrade - an exchange rather than OTC. Don't get me wrong, there are some great OTC firms out there but I just prefer exchange where possible.

You are right though, you must either live in the US or have someone there who you are close enough with to run an account in their name. I resort to the latter.

I use them exclusively for a mean reversion based strategy and am pleased to be well up.