Binexx being absorbed into cityindex

[BinarySoft Chris]

Yeah Betfair is the place to be I noticed the other day that Betdaq have now stopped doing financials, think they had virtually zero volume for the past few months.

 

[Bintrader]

I'd love to trade betfair but hate the way odds are quoted. Can you get any software that translates to binary odds in real time?

Try Cantor Index if you want a real joke firm. They reject 80% of trades if not more and the ones they do accept are normally queued till they are on side (for them).

As I have said before if you are trading hourlies, do so in Betfair where there is no time delay/bets queuing/spreads or rejections. That way we all benefit.

 

[markt99]

I'd love to trade betfair but hate the way odds are quoted. Can you get any software that translates to binary odds in real time?

and whenever I look there's only about £2 you can bet ona trade!!

 

[BinarySoft Chris]

and whenever I look there's only about £2 you can bet ona trade!!

With Betfair it's best just to put your order up inside the back/lay spread. There are a multitude of bots scanning the FTSE hourly markets and if they think they are getting good value, they will match pretty much an unlimited amount.

 

[Visaria]

I agree I don't think size of profit is the trigger.

I started a Binary account with one company and at first made a bit, lost a bit. Then I started to make consist amounts and was withdrawing £500 a week from my account. I made about £3000 before I was switched to manual. I would get big delays, I would often get logged out after making a bet, then was unable to log back in until the bet had expired (which meant I couldn't sell losing bets) - they made me run through all sorts of rubbish i.e deleting cookies, clearing temp files, upgrading java - I knew it wasnt that because I could log onto my wifes account fine.

I just took my profits and moved somewhere else.

Fin tried to do this to a friend of mine who happens to be an IT consultant whose speciality is the web (Java, HTML etc). He just laughed at them and told them to bugger off Unfortunately he wasn't speaking to the dealers but some poor girl in customer services...

 

[adrianallen99]

Fin tried to do this to a friend of mine who happens to be an IT consultant whose speciality is the web (Java, HTML etc). He just laughed at them and told them to bugger off Unfortunately he wasn't speaking to the dealers but some poor girl in customer services...

Im also an IT Consultant by trade and my main areas are Networking and Security. It is obvious when they are fobbing you off.

 

[apples10]

Just received the CityIndex February newsletter.

There is a big section on Binay.

They say that Ftse Hourlies and Touch markets will be starting shortly.

I ask again. . . .. .what kind of marketing is this, promising things before they are delivered - it reminds me of the 1970's and British Leyland!!

COME ON GUYS . . . . .. . Get these products on your site, up and running, then start marketing them.


The e-mail received also corrupted its html (probably due to our office e-mail system), but they could have been indicating more markets on the Dax - which would be great news - I's hopes!!

 

[stevespray]

But what about the dealing proceedures? I understand that they are manual / back office executions. This is not going to work on Hourly Bets.

Steve.

 

[apples10]

But what about the dealing proceedures? I understand that they are manual / back office executions. This is not going to work on Hourly Bets.

Steve.

Hi Steve,

I've been using their Dow Hourlies, they are ok executing, and more often than not give a fill, even sometimes in your favour. I would say that the transaction speed is on a par with IG.
But guess it depends on your internet speed.

 

[Visaria]

No way is City's transaction speed on par as IG (assuming auto execute)!!!!

 

[stevespray]

A friend of mine trades with City and he says that they look at all his trades very closely. This often takes more than a second or two. It simply sounds like a case of them 'detecting' winning clients and adopting a more defensive execution procedure.

 

[Bintrader]

They told me they had no plans for touch bets.

Just received the CityIndex February newsletter.

There is a big section on Binay.

They say that Ftse Hourlies and Touch markets will be starting shortly.

I ask again. . . .. .what kind of marketing is this, promising things before they are delivered - it reminds me of the 1970's and British Leyland!!

COME ON GUYS . . . . .. . Get these products on your site, up and running, then start marketing them.


The e-mail received also corrupted its html (probably due to our office e-mail system), but they could have been indicating more markets on the Dax - which would be great news - I's hopes!!

 

[Bintrader]

One or two seconds, I wish.

A friend of mine trades with City and he says that they look at all his trades very closely. This often takes more than a second or two. It simply sounds like a case of them 'detecting' winning clients and adopting a more defensive execution procedure.

 

[stevespray]

One or two seconds, I wish.

he he he

 

[leunt]

Nearer to 10 seconds in my case,and sometimes i get "sorry wrong price please call this number...."but overall way behind ig.

 

[Visaria]

Nearer to 10 seconds in my case,and sometimes i get "sorry wrong price please call this number...."but overall way behind ig.

More than 10 secs in my case and often receive "sorry wrong price please call this number...."

Has anyone actually bothered calling???.

 

[leunt]

No,because the price is "corrected" instantely.

 

[Bintrader]

Yes, in the same way the bin companies use actual trades to bias the price, I believe that City also bias on rejected trades.

No,because the price is "corrected" instantely.

 

[Greed Is Good]

Not actively trading @ the moment but thought I would add some useful info I picked up last autumn from IG Index RE: What win size ratio before they give you the manual execution treatment + slow quote issues. Below are extracts of some eye opening email I have received from them when querying why slow quotes/price rejections even though I already knew it was because I had taken a lot of money from them!

"Thank you for your email. Here at binarybet we monitor different markets at different stages. This is a necessity for us due to the range of markets we offer. Some markets are monitored more closely than others at various different stages. On our various markets we have consistent losers and winners, and for the sake of prudence we must adopt this policy. Clients are not monitored simply because they are making profit on their accounts"

AND

"Thank you for your email. Whether you scalp, as you call it, or not should have no bearing on the speed of the acceptance of your trades. When a particular market is being scrutinised, then trades on the market are subject to delay. The trading style you adopt is irrelevant. The markets we decide to look closely at are subject to change, and we are under no onus to inform clients if such a situation is in place."

Their answers are pure BS but that obviously sends out a clear message to anyone who thinks they can ever continually prosper by trading with them...

:-0

 

[stevespray]

Not actively trading @ the moment but thought I would add some useful info I picked up last autumn from IG Index RE: What win size ratio before they give you the manual execution treatment + slow quote issues. Below are extracts of some eye opening email I have received from them when querying why slow quotes/price rejections even though I already knew it was because I had taken a lot of money from them!

"Thank you for your email. Here at binarybet we monitor different markets at different stages. This is a necessity for us due to the range of markets we offer. Some markets are monitored more closely than others at various different stages. On our various markets we have consistent losers and winners, and for the sake of prudence we must adopt this policy. Clients are not monitored simply because they are making profit on their accounts"

AND

"Thank you for your email. Whether you scalp, as you call it, or not should have no bearing on the speed of the acceptance of your trades. When a particular market is being scrutinised, then trades on the market are subject to delay. The trading style you adopt is irrelevant. The markets we decide to look closely at are subject to change, and we are under no onus to inform clients if such a situation is in place."

Their answers are pure BS but that obviously sends out a clear message to anyone who thinks they can ever continually prosper by trading with them...

:-0

Greed Is Good….

Myself and several friends have had problems with IG Index relating to these very issues. In my case my account was held with IG Index and not Binary Bet Dot Com. I am still in dispute with IG Index over an instruction that I gave to close an open Dow bet. In my case I was subject to ‘manual dealing’ which meant that they were able to hold my order pending for almost a minute whilst they decided if they were going to accept it or not. In the end the dealer rejected it as the market had moved back in their favour. Of course this movement only occurred due to the delay they introduced and IG Index have acknowledged that the order ‘became invalid’ due to price movement after the time I submitted it. I wrote to their compliance department and questioned the procedure. The compliance department wrote back and said that it was normal procedure. I then wrote a further email pointing out what the T&C stated on the issue of bet rejection. The T&C appear to state that bets will only be rejected if the order fails to meet validation criteria at the time you submit the instruction. I pointed out that the dealers were bending the agreement beyond what was written by using further movements in the market to establish the validity of the order. The contract clearly states that for them to reserve the right to refuse the order at the level quoted the order has to be invalid at the time the order is made (or words to that effect). On that basis a price movement which occurs after the order is sent has no bearing on the validity of the order at the time the customer sends it. I also questioned the compliance department several times on the telephone and to be honest they were tied in knots. After a couple of weeks I received a letter from their legal department…..This is the best bit……They claimed that they weren’t breaching the customer agreement because there were other terms and conditions which were not listed in the customer agreement which allowed the dealers to refuse any order which they wanted. Clearly their letter back to me showed that they still didn’t actually have a grasp of the points that were being made in the customer agreement. The powers that be are still investigating my complaint and I have submitted a 20 page document to the relevant authority outlining the numerous ways that IG Index seem to ignore agreements made in the customer agreement not to mention the promises that they make to their customers in their various adverts.

The truth is that the companies adopt these manual dealing procedures to increase the cost of trading to the customer. Have you noticed that they don’t allow you to cancel and order which is pending? Interesting how the customer agreement states that you are allowed to do this. Again, they know that by not allowing you to cancel a pending order they can ‘pick you off’ if the price improves from your perspective. They realise that if you could cancel an order you’d simply cancel and resubmit the order based on a better price. All these little ways they just try to tip the balance in their favour.

Steve.