BinarySoft Chris
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I've been watching the FTSE and DJIA hourlies on Binexx.com for a couple of days now, and there are hardly any trades whatsoever, are there any other betting exchanges which do binary betting?
Very low volume on Binexx?
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nutter punter
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jules101 said:
You can use Binarybet.com but personally I would use Betfair. Initial impressions are that Betfair is less liquid but I gurantee you that you will get better prices if you put them up on betair.
Clement Attlee
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Tradesports is way way more liquid that Betfair for financial binaries.. sports is another story.
nutter punter
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Tradesports is tiny in comparison to Betfair.
Binexx lacks activity when prices are between 0-5 or 95-100. There are hardly any takers at those levels. I have so far not seen anything traded at 0.1. Contrast this to Intrade, where trading at 0.1 is quite common for the financials.
One reason may be the commission (0.5 x your Value per point), which is effectively 1.0 pips (£1) roundturn. Which means you have to sell at 1.1 to make 10 pence.
Perhaps Binexx could increase volume when prices are between 0-5 or 95-100 by doing what Intrade does:
Zero fees for Price Makers. Price Maker orders will still be charged the usual expiry fees of £0.50 if the order is matched and left to expire. If the order is matched and subsequently closed out by taking a price, normal fees will apply for the closing. Fees at extremes apply to all trades made where the bid/ask price taken is between 0-5 or 95-100, fees charged will be £0.20.
Just a thought.
One reason may be the commission (0.5 x your Value per point), which is effectively 1.0 pips (£1) roundturn. Which means you have to sell at 1.1 to make 10 pence.
Perhaps Binexx could increase volume when prices are between 0-5 or 95-100 by doing what Intrade does:
Zero fees for Price Makers. Price Maker orders will still be charged the usual expiry fees of £0.50 if the order is matched and left to expire. If the order is matched and subsequently closed out by taking a price, normal fees will apply for the closing. Fees at extremes apply to all trades made where the bid/ask price taken is between 0-5 or 95-100, fees charged will be £0.20.
Just a thought.
Clement Attlee
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nutter punter, Tradesports is much larger than Betfair for financial bets and North American markets; for everything else BF is most liquid
The volume of the financial bets between Tradesports and Betfair could be similar (although I'm not sure about this). Tradesports records the volume using a per lot basis, whereas Betfair records a Total Matched based on the monetary amount: at Odds of 1.01 if the Total Matched is $1000, it could actually be only 1 person risking $1000 while the other party risks $10, total of 1 lot matched.
The good thing about Betfair is it charges a commission if you win, if you have a net loss on a market you do not pay commission. The Odds between 1.01 to 1.05 are usually matched.
On the other hand on Tradesports even if you are filled at the lowest 0.1 at zero fee, but if you leave it to expire you lose an extra 0.4.
The good thing about Betfair is it charges a commission if you win, if you have a net loss on a market you do not pay commission. The Odds between 1.01 to 1.05 are usually matched.
On the other hand on Tradesports even if you are filled at the lowest 0.1 at zero fee, but if you leave it to expire you lose an extra 0.4.
Clement Attlee
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Tradesports volume and liquidity is way higher, dude.
nutter punter
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Tradesports volume calculations are very poor and Betfair has much tighter spreads.
Clement Attlee
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nutter punter said:
Wrong, TS volume is clearly listed.. BF volume has to be imputed from risk traded.
The volume is a problem for some time. But I don't think whey lose in terms of wages, the market makers could be computer programs: Actually I think they are one market maker only and not many making consistent two-way quotes: observe the way the bid ask moves up and down and hardly any volume, for hours no takers?
BinarySoft Chris
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binexx are owned by city index
Is anyone using Cantor's www.spreadfair.com ?
I don't have an account with it but I like the trading style for the Financial Markets Interest Rates. The platform looks familiar doesn't it?
I don't have an account with it but I like the trading style for the Financial Markets Interest Rates. The platform looks familiar doesn't it?
BinarySoft Chris
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Anonymous said:
yeah, shame they don't do any other financial markets other than interest rates
I am a user of Binexx by default as the IG site doesn't work over our office firewall and Binarybet is banned as it contains 'bet' in its name!!
Binexx prices are automatically updated using a model. The only problem I find, which has actually cost be a few grand over the year is that when the price of the underlying is close to the strike that their model can't cope so they pull all prices - this happens especially close to expiry, so that it is hard to close out positions if they are going against you - very annoying, their argument is that as it is an exchange you can put up your own prices, but in my experience using your own prices never works as they only trade if way wrong.
Binexx keep saying they are going to introduce more markets. But there is no sign. IG/Binary are continually being imaginative with new markets, because of this I trade these from home and in more size than with Binexx, although ig/binary have the problem of getting fills that have been well documented in other threads.
Binexx prices are automatically updated using a model. The only problem I find, which has actually cost be a few grand over the year is that when the price of the underlying is close to the strike that their model can't cope so they pull all prices - this happens especially close to expiry, so that it is hard to close out positions if they are going against you - very annoying, their argument is that as it is an exchange you can put up your own prices, but in my experience using your own prices never works as they only trade if way wrong.
Binexx keep saying they are going to introduce more markets. But there is no sign. IG/Binary are continually being imaginative with new markets, because of this I trade these from home and in more size than with Binexx, although ig/binary have the problem of getting fills that have been well documented in other threads.
I would prefer Binexx over Binarybet. For one thing Binexx is an exchange whereas Binarybet acts as market maker, you have to take what Binarybet quotes you.
Binexx's volume is low, if it were higher it might be better. I think it needs to attract more customers and do something about the prices at 0-10 and 90-100 levels.
Intrade is very similar to Binexx, for the daily Dow Jones contracts they are active usually during the last hours before contract expiry. Using a simple strategy I think the maximum, with certainty, under current liquidity that one can reasonably expect to make is about a few hundred to about one to two thousand dollars per month profit, even if starting with a small account and compound the profits upwards to the maximum.
I like the Spreadfair's financial trading platform style, but I don't have an account with it.
Binexx's volume is low, if it were higher it might be better. I think it needs to attract more customers and do something about the prices at 0-10 and 90-100 levels.
Intrade is very similar to Binexx, for the daily Dow Jones contracts they are active usually during the last hours before contract expiry. Using a simple strategy I think the maximum, with certainty, under current liquidity that one can reasonably expect to make is about a few hundred to about one to two thousand dollars per month profit, even if starting with a small account and compound the profits upwards to the maximum.
I like the Spreadfair's financial trading platform style, but I don't have an account with it.
Anonymous said:
But you have to take the binexx mm prices anyway, as you only get hit on your own prices when they hit you.
but agree, binarybet are better overall, and with so much more variation in markets.
Binexx defo need to introduce more markets soon, or there dwindling number of followers will evaporate, not everyone can have the same IT problems as me and be forced to use them.
On IG/bINARY it is possible to make consistent money, just keep your size below £10/pt. On Binexx it is harder due to the number of markets, hourlies are hard to make consistent returns - especially when they pull their prices at key points.
rgds
