1) Regulation is not given just because you have an office.
2) Yes we are a market maker - This means we make money from the total volume traded on the platform. We do not take up the other side of the trade against you as an active battle.
3)Expiry price to be as fair as possible is calculated as follows - Bid+Ask/2. The data feed comes direct from our technology provider who in turn takes multiple feeds from the likes of bloomberg, reuters etc.
It is great MK to have the questions raised. For us as I have stated we are in the process of getting that regulation in and running. It is not as easy as pay some money or turn a switch! 🙂 But that in turn is a good thing. Very soon ( a matter of months) we will have a form of regulation/licensing as we grow. Just a case now of having the approval process finished and done.
Really this sort of stuff we and I have no problem talking about as we are a completely above board platform and team. No liew, no bull****, no grey area. Just black and white.
Even without regulation. If you need a withdrawal it is processed and sent within 24hrs of the request (unless its late on friday in which case it waits until monday).
Aside from withdrawals we have a simple and clean platform, great daily info, one on one support for any client and a bunch of free tools to use, not to mention bonuses and extras.
Plus guys, you have people like me, able to be contacted, speaking the truth. Tell me, what other binary platform regulated or not can offer you that?
Love Stone
Sorry Mr Stone but I don;t think few things are clear
lets comapre you to a True exchange and see what aclarity we get ( I am not asking for your trade secrets but enough info for the user to get absolute clarity in understanding what "Financial Product they are dealing with"
1) The day firms like you have true FSA. USA approval the "Trust" factor will go up until then can;t see teh diff between honest brokers and dishonset one
2) When you say you are a Market maker WhO is the counterparty .. you are so there is a clear conflict, for us to win you have to loose same as any Market maker model
UNLESS
A) you match diff clients and just get the spread ( but then again what if you can't match the BId and Aks clients you will be exposed)
B) Hedge all client position with a other market makers ( but then again the same Market Maker issue arises)
C) Hedge all client positions on real regulated market ( but then again there is no mention of that either) Like some CFD providers who have DMA (Direct Market Access)
Whatever option as a user I am in blind unlike when Itrade Options, Futures or equity on established exchanges.... where I know xactly that the exchange itself novates the trades.
3) Expiry price: Again the question was IS you expiary price EXACTLY same as what is officially delcared by the Exchange ( not by a news agency) as a close price say FTSE so that in case of dispute there is an independent method to varify.
As a product it is "interesting" but at the same time could be fatal and to top that the industry has questinable reputation.. on jursdiction etc
Lets not kid ourselves
At teh moment apart from building your own Binary Option on regulated exchanges oen has very limited options
1) Bet with UK regulated bokkmakers
2) IG markets in various forms ( Still Market Maker not really a tru exchange)
MK