Finspreads Binary Betting

[Clement Attlee]

Has anyone used these guys?

 

[feenix]

I haven't got an account with Finspreads, but from a look at the website it seems that the binaries they are offering are not those in the nature of a 'betting exchange' In other words, as far as I know they are the only competitor to IG/Binarybet whereby you are betting against the company rather than other punters. I may have got this wrong, but if I am right it will be interesting to see how people fare with them and whether they come up against the same problem that punters apparently have done with IG/BB when they become too successful.

 

[Trader_Tom]

Good points from feenix. It'll be interesting to see if they do go the way of IG / Binary Bet. And yes, you are right, they are acting as market maker, i.e. any bets are against the house rather than other punters.

 

[Heywood Djublomi]

Got rejected on three trades in a row. Not sure whether it was their sensibilities which made them knock me back, or whether it was their acceptance mechanisms, but three strikes are three strikes, whatever the game.

 

[Bintrader]

I've noticed that if you request too many quotes they start giving only a 10 second countdown, which is useless given that the quote can take upto 30 seconds to arrive. That and the rejections during the last 10 mins or fast moves makes them worse than IG.

 

[leunt]

It didn't take long did it?.Finspreads is banning constant winners in their binaries from internet trading in all markets lol.

 

[Bintrader]

You know of punters this is happening to?

It didn't take long did it?.Finspreads is banning constant winners in their binaries from internet trading in all markets lol.

 

[leunt]

You know of punters this is happening to?

Yes a friend of mine.

 

[Bintrader]

So what sort of money was he making a day/week from Fins?

Yes a friend of mine.

 

[mechmanuk]

Ive just started on finspreads, well on the markets actually,lol and trying, dabbling with the binary bets. What im finding is when they first placed the binary bets online a few weeks back, at the open (or every hour) the points system started around 50, which was great and made a few quid using the binary bets, however a couple of weeks on and there getting wise to it now, the platform online takes forever (maybe 10 minutes) to allow your bets, by which time the points are either high or low cutting your odds dramatically.
I`ll keep my eye on things as this may be a better system than daily bets, but like the chap said, too many wins and your history?

 

[BinarySoft Chris]

it takes 10 mins for some bets? that is ridiculous on finspreads' part

i thought the 20-30 seconds that cantor usually take was far too much...

 

[EGO2]

I've been using FinSpreads for Binaries for a week or two, and have been fortunate to win all 6 of my first trades. No issue with them, as I'm sure once enough people are making the market for them, they will either break/even or most likely gain via their point spread.

Regarding the platform, I'm happy with it, as it gives quite a generous countdown before you click to confirm - and that's always against a live moving price, so you get what you see.

It's important to remember that as they are creating the market, these products are not regulated by the authorities in the same way as you would expect for normal spreadbets. Whilst this may mean there are subtle differences to do with whether they are obliged to always quote a price, and how clients accounts are handled etc, in practice, in the real world, you are unlikely no notice any difference from other forms of investments.

Overall, I'm quite pleased with the service, and am enjoying learning about & using binaries. Does anyone have a link to some detailed analysis of how the spreads are determined? Presumably some probability ratio is at work, based on average true range, time left to market close, etc, to produce the odds of closing up or down and hence the spreads...?

Regards,
EGO2

 

[Bintrader]

Well it all depends on how much you take off them and how quickly. if you scalp in and out of the hourlies and run up 20 trades a day and say £1000 profit a week you will find:

a) quotes are no longer instant (you can wait minutes for them)
b) you don't always get 2 mins countdown, sometimes not even 10 secs
c) you are rejected more often near expiry.

e.g. a lot worse than IG on manual.

I've been using FinSpreads for Binaries for a week or two, and have been fortunate to win all 6 of my first trades. No issue with them, as I'm sure once enough people are making the market for them, they will either break/even or most likely gain via their point spread.

Regarding the platform, I'm happy with it, as it gives quite a generous countdown before you click to confirm - and that's always against a live moving price, so you get what you see.

It's important to remember that as they are creating the market, these products are not regulated by the authorities in the same way as you would expect for normal spreadbets. Whilst this may mean there are subtle differences to do with whether they are obliged to always quote a price, and how clients accounts are handled etc, in practice, in the real world, you are unlikely no notice any difference from other forms of investments.

Overall, I'm quite pleased with the service, and am enjoying learning about & using binaries. Does anyone have a link to some detailed analysis of how the spreads are determined? Presumably some probability ratio is at work, based on average true range, time left to market close, etc, to produce the odds of closing up or down and hence the spreads...?

Regards,
EGO2

 

[Robertral]

Well it all depends on how much you take off them and how quickly. if you scalp in and out of the hourlies and run up 20 trades a day and say £1000 profit a week you will find:

a) quotes are no longer instant (you can wait minutes for them)
b) you don't always get 2 mins countdown, sometimes not even 10 secs
c) you are rejected more often near expiry.

e.g. a lot worse than IG on manual.

Have Cantors binaries got any better recently? I haven't check their prices in a long time.....Finspraeds are useless -> Me and my mate are gettign rejected left right and center.....we aren't even putting large tardes on....

 

[Bintrader]

Cantor appear to be perm manual, so they pick the trades to allow - and guess which ones?

You guys trading IG then? You fancy joining me in a trading room for Bins and other stuff?

Have Cantors binaries got any better recently? I haven't check their prices in a long time.....Finspraeds are useless -> Me and my mate are gettign rejected left right and center.....we aren't even putting large tardes on....

 

[BinarySoft Chris]

Have Cantors binaries got any better recently? I haven't check their prices in a long time.....Finspraeds are useless -> Me and my mate are gettign rejected left right and center.....we aren't even putting large tardes on....

if u don't mind me asking, what size trades have u tried?

 

[BinarySoft Chris]

Cantor appear to be perm manual, so they pick the trades to allow - and guess which ones?

You guys trading IG then? You fancy joining me in a trading room for Bins and other stuff?

I've only had a few bets with Cantor, but all of my bets have taken about 20-30 seconds, and only accepted if the price hasn't moved against me in that time, i.e. pathetic!

 

[Bintrader]

I normally trade 5 or 10 p/p, there appears to be a limit of 15 p/p - is that the same with you?

if u don't mind me asking, what size trades have u tried?

 

[BinarySoft Chris]

I normally trade 5 or 10 p/p, there appears to be a limit of 15 p/p - is that the same with you?

a limit of £15/point on finspreads too? there is certainly a £15/point limit on cantor

 

[Bintrader]

No, I meant Cantors. Fins claim 1 -150 p/p. The send 150 p/p quotes out by post lol.

a limit of £15/point on finspreads too? there is certainly a £15/point limit on cantor