Can you explain more about what the advantage of building your own option is? That is at least compared to what some brokers offer in terms of retail styled option builders like those found at the aforementioned traderush and goptions - Simple binary options trading I believe both were mentioned).
Thanks
David
David Hi,
Take a look at these guys and watch the video to understand it.
https://www.pyxmarkets.com/how-to-trade-digital-options/
I like them and havent had any issue with withdrawals and such.
The difference between the option builder on up down platforms is that you arent really building the option all you are doing is selecting risk vs reward and time frame.
The guys I use are nothing like these up/down platforms so if that what you want they wont be able to help you.
With PYX you literally build your option, you select the range that you are predicting the market will close, select your premium, their engine will auto quote you a return then you choose whether or not to execute. All options can be sold before expiry and your PP/L is quoted in real time so you can lock in profit or stop a loss maker.
The returns quoted are alot higher than 85%... upto 2000% they state but I havent seen this yet. On a normal option that I build for say the FTSE to be 20 points away from spot I will be offered somewhere in the region of 300%.
The only disadvantage of these guys is that all trades are with an eod expiry unless you sell early... I have emailed their support about this and the response was that they are a new business and are evolving at present. More assets and different time frames will be added in the coming months.
Hope this helps, please let me know what you think of them and if you find anything untoward going on also let me know as I have researched them a lot and find them to be pretty solid.
