fx binary bets?

[mustafa]

Hi Everyone!
anyone tried trading fx binary bets?
(ig index/binarybet.com)

 

[donaldduke]

Just had a look, they seem to up/down only. And
the spread is 7% wide!

Id stay away..

 

[Robertral]

If you feel the spreads are too wide and you really want to trade a binary (digital) then try and replicate the binary using vanillas and see if it is worth the risk

 

[mustafa]

Hi robertral!
thanx for your reply..
but what is vanilla..(apart from ice cream!!)..is it some kind of options?
have heard of it somewhere..but absolutely no clue..

 

[Robertral]

Hi robertral!
thanx for your reply..
but what is vanilla..(apart from ice cream!!)..is it some kind of options?
have heard of it somewhere..but absolutely no clue..

"Vanilla" refers to options traded on an exchange..calls and puts

"Exotics" are traded Over The Counter (OTC) and are not exchange traded

hope this helps?

 

[Omoh101]

Hi robertral!
thanx for your reply..
but what is vanilla..(apart from ice cream!!)..is it some kind of options?
have heard of it somewhere..but absolutely no clue..

Hi Mustafa,

I trade 5 MINUTE UP/DOWN binaries with GFTUK but I won't recommend them anymore as they are now using manual execution. Which means you don't get filled as quickly as the automated execution and you mostly get filled at a worse price or not all.
I find Binaries useful so I am looking for a new broker that offers Binaries on a 5minutes UP/DOWN on FX