What if new indicator works well on binary options? (i.e. on Dukascopy)

okinowa

Newbie
6 0
Hello everyone,

I think I have developed a good indicator that helps me "predict" the direction of some instruments for a couple of minutes.
Now I am concerned about the attitude of the broker, what if I start to earn like $10k USD a day with $1k USD investment? I guess they will ban me or something? I know Dukascopy have binary options and they are regulated by the FINMA, what do you think could happen in this scenario?

In other words, I cannot imagine a broker to let me get $300k USD per month and do nothing to stop it. I guess they can simply "change the rules" (i.e. longer duration, lower payout, etc.), what would the FINMA do in this case? Would it be legal to do so?

Thanks,
 

Panic!

Member
70 12
Why would they stop you? A normal broker makes money on commissions, they're not your counterparty. Is this different in binary options? If so, just find a different broker.
 

okinowa

Newbie
6 0
Well in binary options you take the brokers' money as you can win with a tiny spread in your favor. You are not betting on the FX market actually. You can win 90% of your bet with a 0.0001% difference in the price, if you bet on the right side obviously.

Simply put, you have 2 choices, the price will be higher or lower in X minutes. If you win, you get 90% from their pocket and they get 10% from your pocket. If you loose, you get 0% from their pocket and they get 100% from your pocket. I don't know but I feel that they won't let me touch their pockets. ;)

Anyone has any experience with binary options on Dukascopy (or any other broker)? I don't want to spend days backtesting everything to end up with a wiped/banned account.
 

Panic!

Member
70 12
Right. Thanks for explaining. Can't you just move to different broker and trade a different instrument?
 

okinowa

Newbie
6 0
My indicator is only profitable in a binary options scenario. Because there aren't commissions to pay and the win payout is huge.

I am curious about the FINMA and the binary options actually, because there is hope that the FINMA could forbid the broker from changing the rules because a customer wins, and they can also guarantee that I get my profit back. If anyone knows anything about it please reply. ;)

Thanks guys,
 

NVP

Legendary member
36,749 1,874
Hello everyone,

I think I have developed a good indicator that helps me "predict" the direction of some instruments for a couple of minutes.
Now I am concerned about the attitude of the broker, what if I start to earn like $10k USD a day with $1k USD investment? I guess they will ban me or something? I know Dukascopy have binary options and they are regulated by the FINMA, what do you think could happen in this scenario?

In other words, I cannot imagine a broker to let me get $300k USD per month and do nothing to stop it. I guess they can simply "change the rules" (i.e. longer duration, lower payout, etc.), what would the FINMA do in this case? Would it be legal to do so?

Thanks,
hey there ....

when you TRULY get to the position above.....i'd worry about it then ....... :)

N
 

NVP

Legendary member
36,749 1,874
Well in binary options you take the brokers' money as you can win with a tiny spread in your favor. You are not betting on the FX market actually. You can win 90% of your bet with a 0.0001% difference in the price, if you bet on the right side obviously.

Simply put, you have 2 choices, the price will be higher or lower in X minutes. If you win, you get 90% from their pocket and they get 10% from your pocket. If you loose, you get 0% from their pocket and they get 100% from your pocket. I don't know but I feel that they won't let me touch their pockets. ;)

Anyone has any experience with binary options on Dukascopy (or any other broker)? I don't want to spend days backtesting everything to end up with a wiped/banned account.

that reminds me ....i must move offshore and open up a binary brokerage ....its a licence to print money ......
 

okinowa

Newbie
6 0
The question is not if I can reach the position, but if they will allow me to cash out my earnings. I already applied the technique on 3 other "binary options brokers" that ended up being scammers. One of them simply wiped my account and banned me. The second one delayed the withdrawal for weeks and always found an excuse to not approve my withdrawal. The third one changed the rules (super low payout for winning and minimum of 60 minutes or so) for the instruments I was winning with (they changed it in a couple of hours after I started my bot (and earned x10), it is called magic). So that's why I am going to try on a regulated broker, the FINMA should not allow what the others did.

So now back to my question, if I win a lot with binary options on Dukascopy, will they let me get my earnings, every day 10k USD or so? If not, what could the FINMA do to protect me? You see, if they will disrupt my system then I will lower my winnings and earn less, split between different brokers, I don't know, I will at least try to win less but steady. I just don't want to trigger an alert on their system and wake up the next morning and see that I am banned or that they changed the rules to break my winning system (as I already experienced).

Please if you do not have any interesting input related to my main question, don't pollute the post. No offense, let's not waste anyone's time. ;)
 

okinowa

Newbie
6 0
Thanks for the advice, I will try with them!
 

hatemypips

Well-known member
477 35
Hello everyone,

I think I have developed a good indicator that helps me "predict" the direction of some instruments for a couple of minutes.
Now I am concerned about the attitude of the broker, what if I start to earn like $10k USD a day with $1k USD investment? I guess they will ban me or something? I know Dukascopy have binary options and they are regulated by the FINMA, what do you think could happen in this scenario?

In other words, I cannot imagine a broker to let me get $300k USD per month and do nothing to stop it. I guess they can simply "change the rules" (i.e. longer duration, lower payout, etc.), what would the FINMA do in this case? Would it be legal to do so?

Thanks,
Depends on the strategy, especially if it allows you to make money risk-free or you still take some risks. Statistically there are extremely small odds that somebody can find market inefficiency which allow them to generate such high returns. But well there are tons of binary option broker you can switch to other broker if a problem appears.
 

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