What's going on with Betonmarkets?

[ml123]

Hi Traders,

About 3 weeks ago, BOM raised their minimum bet duration from 1 day to 7, and it looks like their pricing also went up.
They keep saying this is due to an "Issue with their pricing mechanism", and that they will bring back 1 day betting, but they cannot say when.

Any idea what is going on there? I would like to try a daily strategy, and I wonder whether I should wait for them.

Any ideas?

Thanks!

 

[Torch]

BOM have been morphing their product on a regular basis for many years now. Everything from longer term bets to the Mickey Mouse 'run bets' have been changed consistently.

But they are still there. Essentially the same old BOM, still clocking along in an era of fancy dan Binary Options brokers that all seem to have sprung up in 2010.

Ultimately you take the rough with the smooth with all these companies, and in the case of BOM whenever there has been an 'issue with their pricing mechanism' (i.e. more winners than losers ) they have never been slow to shift the goalposts in their favour. Based on past experience i'd be confident the daily bets will return (probably slightly tweaked).

But speaking as someone who has used them for over six years, I think they are okay. They are relatively upfront (e.g. about preferring you to lose..), and they do pay out.

 

[x4x]

I used to make fortunes with BOM - but as Torch has said, they will tweak the bets until it becomes impossible to win. Once they have got rid of the consistent winner they will probably tweak them back again. I used to bet on 10 minute intraday moves - they got rid of the 4th digit (it was 4 digits in those days) requiring the price to move 10 points or more before a win could be claimed - needless to say, I moved on, and I would suggest you do to...

 

[ml123]

x4x - just out of curiosiy, where did you move on to? Did you find another reliable fixed odd provider?

 

[x4x]

x4x - just out of curiosiy, where did you move on to? Did you find another reliable fixed odd provider?

I worked out that no one offering fixed odds can hedge against losses, therefore they won't let you win consistently - so I moved to spread betting.

 

[InterJon]

Just typical isn't it. I spend a lot of time developing a strategy that works on 1 day one-touch binaries at BOM and they move the goalposts.

I was wondering if they could ever hedge their losses and seems to makes sense that they can't, BOM just can't be called a "broker" in any way. They're a bookie through-and-through.

*sulks and moves on to spread-betting, with the tide*

 

[x4x]

Just typical isn't it. I spend a lot of time developing a strategy that works on 1 day one-touch binaries at BOM and they move the goalposts.

I was wondering if they could ever hedge their losses and seems to makes sense that they can't, BOM just can't be called a "broker" in any way. They're a bookie through-and-through.

*sulks and moves on to spread-betting, with the tide*

I was gutted when they messed up my strategy, but you're better off moving to a spread betting company anyway - at least if they ever start playing games, you can move on to DMA.

 

[ommc]

I have been using bom for 5 years without complaint and regret. They are still the best in my opinion.

 

[x4x]

I have been using bom for 5 years without complaint and regret. They are still the best in my opinion.

I'm not surprised you would say that ......

.....and you're not winning enough to worry them.

 

[tar]

you could try Nadex ( binary exchange belongs to IG ) , u should be a US resident to join , however but you can open through PFGbest , touch binaries is not available just ladders ...

 

[ommc]

I'm not surprised you would say that ......

.....and you're not winning enough to worry them.

thats not right.

 

[claretblue]

Signed up for a demo account with BOM - now they keep offering me courses, seminars, videos etc, to show me how to become a better trader and make more money . . . . . . . .from THEM!!!
A bit like a fox offering to teach chickens how not to get eaten . . . .by a fox!
Not impressed at all.

 

[LosPinos]

Hi everyone, I have said this a number of times. Bet on Markets is that, a bet.... bookies don't go out of business so if they start to lose a few quid they shift the goal post. I understand you cant sell a bet with them either any more.

I have used Nadex before and liked their platform very much however I'm in Europe and use PYXmarkets now as its a trading platform not a betting one. Regulated, segregated funds, one day trades, sell the position early, easy to use, low level funding, I could go on but I'm talking myself in to upping my deposit so I'll stop.

I signed originally and used a demo account for two weeks.... the one reason why I did fund a live account and start trading was because I didn't get any salesy emails or call telling me I could make this much and that much they just let me get on with it.

PYX is a very simple platform to use and I couldnt be happier with them.

 

[kubek]

You can use NADEX through PFG best, they accept clients based in Europe. And I don't like PYX from what I've seen. GFT and IG have so much more markets to choose from...

 

[LosPinos]

Whats not to like? I agree they could do with a few more asstes but the majority of my trades are on FTSE or Cable so it suits me fine.

Have you actually traded on PYX or just looked at it. I found it strange for a day or so until I had worked out how to use it but once I got the hang of it I thought it was great. I'm making decent gains as the proffit on offer is huge in comparison to IG custom bets. IG are all settled manually still as well so you close a trade and 30 minutes later the money is still not back in your account.... not good.

You can use NADEX through PFG best, they accept clients based in Europe. And I don't like PYX from what I've seen. GFT and IG have so much more markets to choose from...

 

[Millioner]

Any news from you guys who used it ,do you still play BOM ?
What is considered a big win for them in order to make something against you not to win ?

 

[shellhrs]

And now they changed the same-day Rise/Fall bet for indices to close 1 hour before trading times ended for the indices. You can't place bets 60 minutes before the corresponding bourse close for the day.

Just.Great.

... looking for new alternatives

 

[NVP]

I worked out that no one offering fixed odds can hedge against losses, therefore they won't let you win consistently - so I moved to spread betting.

you will never beat a bookie ..........so either walk away or become a bookie

N

 

[pangde]

If you always win, betonmarket be restrictions?...

 

[BOP]

Sure I still use them... and have done for about 6-7 years. However they do have times when the odds suddenly drop off, the spread gets huge (look at the bets that you can instantly sell back after placing) and they also have these 'technical difficulties' every now and again when you can't trade.

However if you only trade small amounts and keep under their radar you can still take money out of them. But don't expect to do it with big sums on a regular basis as you will soon flag yourself up on their systems!