BetOnMarkets
in Brokers / Fixed Odds
BetOnMarkets is a fixed odds betting site which focuses exclusively on the financial markets. Bets can range is size from £5 up to £50,000 and include such betting options as doubles, expiry bets, and boundries.
Traders may open free online training accounts with virtual money.
Country: United Kingdom
Website: http://www.betonmarkets.co.uk/
Member reviews
It's ok, it's just that I suck at betting!
Make sure you deposit an initial amount of money that you can afford to lose. Then set your limits so as you can only risk a predetermined amount, say 5%, of your acct. in any given day, after which the system prevents you from placing additional bets (regardless you won or lost). You can also set a limit in the number of bets, say three a week. They provide tools to prevent compulsive gambling! that is ok with me.
Not for me.
I wouldn't recommend BOM. I understand that if you are a frequent winner then the BOM algos individualises the ODDs against you, that is, the odds aren't the same across the board but are tailored to fleece you; if you get the chance you and a mate trade at the same time but from different computers then you'll know what I'm referring to. Further, if you pick the right side of the market then expect delays, a web-site that takes EONS to place an order (unless you are getting on the wrong side), a customer service team that barely speak english.
I get that CMC feeling about BOM.
I get that CMC feeling about BOM.
not impressed
you can't trade in the first 1/2 hour, in fastish markets - the prices never appear-- and the "spreads" are massive.
good for some
My 2 cents worth. I have been "trading" on BOM for close on 3 years with a modest degree of success. Its attraction (to me) is two-fold -1) being a bookie, profits are tax free which means that to a higher rate UK tax payer for each £100 of profit that's equivalent to circa £169 of taxable profit. 2) they offer "exotic options" which cannot to my knowledge be replicated elswhere. It is in my view a good place for the small man to start. I do agree though that admin and particularly communication has been poor of late.
Be Very Wary
BOM are not really a broker in the strict sense of the word, they are a licensed bookmaker who offer odds on events within financial markets. The odds they offer tend to be very poor and getting worse as time goes on. They also have a habit of changing their gaming rules on a fairly regular basis so if you do find a strategy that works the chances are the rules will change and a winning system will become a losing one. Their customer service is dreadful with their personnel demonstrating a clear and unhidden contempt for their Clients. My advice is steer well clear, or place bets on horses!!!
Watch out
I have been using BOM for over a year .The odds have been skewed hevily in their favour and they are making sure it is more difficult to win as their site is getting established.It is defintely not 50/50 and if you have money to loose and like a gamble it is not a bad pastime and of course you can start by loosing only £10 at a time.Still it mounts up quickly.There are pretty usless on responding to e mails so have you keep eyes open you have been warned.
petrus
petrus
BOM Why not...
You get wot u c -- They provide, in a limited number of Mkts, a way to control risk. U hv to hv the money in the account before trading and then u place your bet. Its yr decision to 'buy' or 'sell', the basic requirement in any profit/loss situation. Dont blame the messenger......Just get it right and u win, and u know the risk at entry....and they give u the chance to 'change' yr mind if u think u got it wrong, but of course at a loss (but not total loss). This kind of service is aimed (my opinion) at the lower/entry type of trader, but shud not be frowned on. Your unlikely to lose your house and seeing as the lowest bets (risk) are a tenner or so..... its a bit of fun, and maybe better than the lottery. Nuff said.
overseastrader
I have been betting on BetOnMarkets for over two years and they only get better. The only disappointment was that they discontinued intraday Gold betting.
Getting registered was a little difficult and there are some hoops that you have to go through but I see no other trading platform that can give you an easy way to trade on a daily basis.
Good betting.
Getting registered was a little difficult and there are some hoops that you have to go through but I see no other trading platform that can give you an easy way to trade on a daily basis.
Good betting.
BOM
Hello all, I've been using BOM for about three months, mostly no touch low risk stuff. The site itself is quite easy to use and given it's clear low and high risk ratings is obviously a good place to start. However, one major drawback - after turning a small profit (approx £300 on £1700 invested) I've decided to withdraw my funds for the time being. No problems with that you may think, but the site forces you to upgrade to a "Big Ticket" status before allowing full redistribution of funds, at least this is what has happened in my case - not really sure why this has happened. The help desk tells me: "it is standard policy to ask our clients to upgrade their account once certain trading limits have been reached". This means faxing two proofs of id - not easy given my lack of access to a fax or scanner.
I've since requested my account to be closed. So sign up by all means, but be prepared to "jump through hoops" when you want to withdraw your funds.
Best of luck
I've since requested my account to be closed. So sign up by all means, but be prepared to "jump through hoops" when you want to withdraw your funds.
Best of luck
BOM
I am a swing trader generally, but found BOM via ADVFN about 3 months ago. After playing around for a month and loosing all I had put in, I started again using ONLY ''no touch' on indices.
I have'nt lost since.
I agree with what has already been said by some of you, that all that is needed is good money management.
I don't make a lot, but it pays the bills and frees up funds for my trading.
Good luck to all
DJ
I have'nt lost since.
I agree with what has already been said by some of you, that all that is needed is good money management.
I don't make a lot, but it pays the bills and frees up funds for my trading.
Good luck to all
DJ
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