Binexx being absorbed into cityindex

Bintrader said:
You can't trade them directly unless you set up a binary company or a firm allows you to tap into their API like Betfair.

Cheers for the fast reply - looks like I'm stuck with SB companies then! Is it not possible to construct a Binary Option using 'vanilla' options?
 
markt99 said:
Cheers for the fast reply - looks like I'm stuck with SB companies then! Is it not possible to construct a Binary Option using 'vanilla' options?


In theory yes. A digital can be constructed using a spread with finite differentials between strikes. But on most exchanges the strikes are too far apart, thus you get a variable payout between the strikes. rgds
 
Bintrader said:
You can't trade them directly unless you set up a binary company or a firm allows you to tap into their API like Betfair.

do any of these firms have API's apart from Betfair?
 
I think someone mentioned that tradesports do, but I may be mistaken.

Anyone traded with City yet?

jules101 said:
do any of these firms have API's apart from Betfair?
 
Bintrader said:
I think someone mentioned that tradesports do, but I may be mistaken.

Anyone traded with City yet?
city is imo a "carbon copy"of cantor binaries which is the worst of the lot,where trades take ages to confirm and get rejected when things don't go their way,hence i'm not trading the hourlies with them anymore unless there is fair play.
 
Couldn't agree with you more, it's a joke, even when the market is not moving the fill takes a few seconds - clearly all manual, they can't lose.

leunt said:
city is imo a "carbon copy"of cantor binaries which is the worst of the lot,where trades take ages to confirm and get rejected when things don't go their way,hence i'm not trading the hourlies with them anymore unless there is fair play.
 
I also agree - I tried to place a few bets yesterday, two got rejected even though the market had only moved a tiny amount in my favour (still inside the initial spread), and the other one got accepted after about 20 seconds.
 
Bintrader said:
Yes, been manual for over a year I think. Actually got used to it and can normally tell if I am going to get filled or not.

I've just been put on manual by Fin. I can't stand it!!! I don't receive a quote for at least 30 seconds.

I have traded with Bin. How do you tell if you're on manual? Do they delay in accepting your trade or they just keep knocking you back?
 
Visaria said:
I've just been put on manual by Fin. I can't stand it!!! I don't receive a quote for at least 30 seconds.

I have traded with Bin. How do you tell if you're on manual? Do they delay in accepting your trade or they just keep knocking you back?


They just delay you as one og their traders has to eyeball the trade first.

Even if you are on manual though, it will kick in at a certain level, try dealing smaller. Mine was set at £10/pt, i therefore kept to this level to avoid the annoyance factor.
 
Well manual (level 1) with IG/BB is like they delay the trade a couple of secs then software checks, but they still fill if you within 2 pts of so. If it is 10 against you they fill :(

Manual (level 2) is bad. Some guy vets each trade and it can take 30 secs to fill. Random results depending on who vets the trade. Often they don't fill unless it moves against you.

Visaria said:
I've just been put on manual by Fin. I can't stand it!!! I don't receive a quote for at least 30 seconds.

I have traded with Bin. How do you tell if you're on manual? Do they delay in accepting your trade or they just keep knocking you back?
 
How often were you trading and how much were you making to be put on manual?


Visaria said:
I've just been put on manual by Fin. I can't stand it!!! I don't receive a quote for at least 30 seconds.

I have traded with Bin. How do you tell if you're on manual? Do they delay in accepting your trade or they just keep knocking you back?
 
I was only doing £2-3 a point but trading about 10-15 times a day. I made a just over a thousand (pure luck!) over a week. I can't believe they would become so frightened! I would have probably lost it back to them pretty quickly. These guys are incredible!
 
Yes, I would have though that £1K a week for a few weeks would be needed to trigger it. Perhaps the large number of trades did it. I've been on manual for a while and they hit me after about 3 weeks, I was also making 10+ trades a day and making around £1K a week - distant dreams :(

Anyone care to comment on what they did to get manual.

Visaria said:
I was only doing £2-3 a point but trading about 10-15 times a day. I made a just over a thousand (pure luck!) over a week. I can't believe they would become so frightened! I would have probably lost it back to them pretty quickly. These guys are incredible!
 
I'm getting a bit confused here. I thought Visaria was talking about Finspreads, whilst Bintrader is talking about BB/IG. In the past I've gone for periods of winning £1k + a week with BB/IG without any trouble in getting filled. Being switched on to manual MIGHT depend on the type of binary trade you are doing. This can vary from the hourlys when you need to get in and out very quickly on one hand to the range bets on the other hand, where one strategy could be (for example) to sell whether the DAX is going to close up or down over 75 points. You could enter the trade the night before when prices can be quite static and let it run to the close, knowing that you are going to win more times than you are going to lose, albeit the losses are going to be bigger than the wins.

Has anybody been asked to take their account elsewhere by IG/BB ? and if so, what were the circumstances. ?
 
(Edit: Discussion with Bintrader was re: finspreads) Bintrader, do you still trade with them [fin]? For me it's a chore, the ridiculous wait as you see the prices move around in the background. No joy in it at all now.

All price quotes I request are subject to this manual nonsense i.e. futures, currencies etc. It's even more crap when you look at how the lightning fast quotes and fills that are done on direct access platforms such as IB. Fin (and anyone else that delays quotes and fills) just want to take us back to the dark ages (i.e. the 1980's).
 
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I still use Fin occasionally as quotes early in the hour are sometimes okay. I think some traders watch my trades others tend to let them through. But agree that it is a chore trying to trade against the market and the bookie.


Visaria said:
(Edit: Discussion with Bintrader was re: finspreads) Bintrader, do you still trade with them [fin]? For me it's a chore, the ridiculous wait as you see the prices move around in the background. No joy in it at all now.

All price quotes I request are subject to this manual nonsense i.e. futures, currencies etc. It's even more crap when you look at how the lightning fast quotes and fills that are done on direct access platforms such as IB. Fin (and anyone else that delays quotes and fills) just want to take us back to the dark ages (i.e. the 1980's).
 
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