Goodbye IG, Hello Tradesports

[Clement Attlee]

Since experiencing IG Index’s unfair policy of price rejects I have been searching for a binary options platform and I have finally found one I am happy with. In fact, it’s simply too good to be true, but it is true. It’s a site called Tradesports.

Tradesports is a trading exchange rather than a spread-bet dealer so you are able to enter limit orders and trade against other clients like on Binexx.com but TS has much more liquidity than Binexx and the delay is smaller. The commissions are also much lower. TS charges 0.4 of a point per side rather than Binexx’s 0.5 and doesn’t charge if your limit order is not filled immediately (i.e. if you add liquidity to the book and someone takes that liquidity, you don’t pay the 0.4 for that side).

TS offers End of Day and Midday binary options and DAX, FTSE, and US Indices. No hourlies. The structure of trading is a little different. Rather than trade a dollar value per point, you are trading X number of contracts. Each contract either expires at $0 or $10, so one contract is equal to $0.1 per point. The market makers on the DAX and FTSE keep the market 300 contracts deep (or $30/point) and on the DOW it’s usually 600 contracts although I have sometimes seen 1000 contracts. The prices are way less "elastic" than on Binexx so you can easliy to 600 contracts on the FTSE/DAX. And the cool thing is that if you have the technology you can been your own market maker on TS.. I just love the transparency of an exchange microstructure, having been screwed by IG too many times. You can only trade in US$ but so what. Goodbye IG, hello Tradesports. Here is the link: http://www.tradesports.com

 

[Bintrader]

Hi

What method are you thinking of using for deposit/Withdrawal?

 

[England765]

Since experiencing IG Index’s unfair policy of price rejects I have been searching for a binary options platform and I have finally found one I am happy with. In fact, it’s simply too good to be true, but it is true. It’s a site called Tradesports.

Tradesports is a trading exchange rather than a spread-bet dealer so you are able to enter limit orders and trade against other clients like on Binexx.com but TS has much more liquidity than Binexx and the delay is smaller. The commissions are also much lower. TS charges 0.4 of a point per side rather than Binexx’s 0.5 and doesn’t charge if your limit order is not filled immediately (i.e. if you add liquidity to the book and someone takes that liquidity, you don’t pay the 0.4 for that side).

TS offers End of Day and Midday binary options and DAX, FTSE, and US Indices. No hourlies. The structure of trading is a little different. Rather than trade a dollar value per point, you are trading X number of contracts. Each contract either expires at $0 or $10, so one contract is equal to $0.1 per point. The market makers on the DAX and FTSE keep the market 300 contracts deep (or $30/point) and on the DOW it’s usually 600 contracts although I have sometimes seen 1000 contracts. The prices are way less "elastic" than on Binexx so you can easliy to 600 contracts on the FTSE/DAX. And the cool thing is that if you have the technology you can been your own market maker on TS.. I just love the transparency of an exchange microstructure, having been screwed by IG too many times. You can only trade in US$ but so what. Goodbye IG, hello Tradesports. Here is the link: http://www.tradesports.com

Tried them a while ago but their marketmaker's prices "flash" all the time, i.e. disappear for 5-10 seconds, especially when a market is making a move, which is almost as infuriating as being rejected by IG. Plus you have to type in every price when you choose to deal, which is more time consuming than binexx. Point taken re binexx though; I spoke to a guy there last week - apparently they are launching more markets with higher marketmaker minimums, so there is hope.

 

[nebuchadnezzar]

I agree with clement that an exchange is far better than trading with IG/bb. But i find you can easily miss prices on TradeSports as england said - the liquidity in the market looks good but you can't often take it. Am looking forward to seeing if Binexx do increase their liquidity, and if they start to allow us to be marketmakers too.

 

[Clement Attlee]

I am using wire transfer for deposit/withdrawl, I believe they give you a $100 bonus for each wire deposit per month.

Yes the MM prices flash.. but you are compensated for that because limit orders do not incur fees..ie. if the ask is flashing at 50, your order to buy at 50 may be filled a second after it hits the order book rather than right away, saving you 0.4. Also, the prices don't flash as much as they used too.. and when they do it's for less than a second. I think they have improved their platform.

 

[stevespray]

It would seem that the key with any of the platforms / exchanges which offer binaries / digital options (ie high delta) is speed of execution. If orders can be delayed in any way then an advantage is gained by your counterpart especially if you are dealing against a quoted market like a bookmaker. In essense you must be able to 'grab' the price which you see.

Steve.

 

[Clement Attlee]

There is always some delay in options markets, even in traditional exchange traded options markets since the market maker could get picked off too easily. The higher the delta, the more the delay is justified.

 

[stevespray]

Most of the exchanges have strict rules pertaining to 'backing away' as the passing of time gives the market maker an element of hindsight.

Steve.

 

[Clement Attlee]

Most of the exchanges have strict rules pertaining to 'backing away' as the passing of time gives the market maker an element of hindsight.

Steve.

There is no 'backing away' on Tradesports nor is there an element of hindsight. Just a small delay of about 1 second. No delay on cancels. You will never have a high-delta options market without a delay. The MM on TS can't see your order coming and can't delay the fill if it hits his/her price.

 

[stevespray]

CA....That is very good news indeed. I wish other companies worked as fairly.

Steve.

 

[Pitscum]

hello guys, id be interested a few months on how its gone on the platforms??? what have volumes done too? met your expectations?

rgds, scum

 

[markt99]

Since experiencing IG Index’s unfair policy of price rejects I have been searching for a binary options platform and I have finally found one I am happy with. In fact, it’s simply too good to be true, but it is true. It’s a site called Tradesports.

Tradesports is a trading exchange rather than a spread-bet dealer so you are able to enter limit orders and trade against other clients like on Binexx.com but TS has much more liquidity than Binexx and the delay is smaller. The commissions are also much lower. TS charges 0.4 of a point per side rather than Binexx’s 0.5 and doesn’t charge if your limit order is not filled immediately (i.e. if you add liquidity to the book and someone takes that liquidity, you don’t pay the 0.4 for that side).

TS offers End of Day and Midday binary options and DAX, FTSE, and US Indices. No hourlies. The structure of trading is a little different. Rather than trade a dollar value per point, you are trading X number of contracts. Each contract either expires at $0 or $10, so one contract is equal to $0.1 per point. The market makers on the DAX and FTSE keep the market 300 contracts deep (or $30/point) and on the DOW it’s usually 600 contracts although I have sometimes seen 1000 contracts. The prices are way less "elastic" than on Binexx so you can easliy to 600 contracts on the FTSE/DAX. And the cool thing is that if you have the technology you can been your own market maker on TS.. I just love the transparency of an exchange microstructure, having been screwed by IG too many times. You can only trade in US$ but so what. Goodbye IG, hello Tradesports. Here is the link: http://www.tradesports.com

Are you still trading on Tradesports? If so what kind of volume can you easily trade?
Thanks

 

[Clement Attlee]

Tradesports is great for US Markets - dow sp and ND. You can do upwards of $60/point on dows. Volumes are bigger on BB but cost of trading is lower on TS because there is ZERO backing away from prces.