Overall, I'm getting a bad feeling not just about Banc de Binary, but also about the whole binary options concept.
Binary Options are nothing more than gambling, with a Bucket Shop as your counterparty.Overall, I'm getting a bad feeling not just about Banc de Binary, but also about the whole binary options concept.
Seems all of these guys are just white labels of this binary options platform provider: SpotOption - Binary Options Platform ProviderI believe something fishy is going on with the data being manipulated if your in a winning trade. In my demo account I was clearly up by 40 pips trading the 60 second, when 20 seconds before expiration my winning option is all of a sudden a tie when price clearly was no where near my entry and the trade didn't even expire yet. I 've had tons of real demo accounts with futures brokers and forex and have never experianced anything of this nature in regards to trading. I think there should be more regulation and transperancy, until then I will not be trading live with this broker. It is not advisable.
In my experience, I have found only two firms who try to make a legitimate market in spot forex options:Maybe I should call up Spot Option and establish Banc de Pharaoh and Pharaoh de Binary.
Pharaoh,Regarding Saxo, I think you are referring to real options traded on an exchange, right?
These other "binary options" brokers don't seem to be linked to an exchange.
It has recently come to my attention that there IS indeed one firm that has created an NFA Registered Derivatives Exchange in the USA, which provides a market in Binary Options and Bull Spreads. The North American Derivative Exchange (NADEX) NFA ID: 0340344, is subject to regulatory oversight by the CFTC! They facilitate the offering and sale of these derivative instruments from their liquidity provider MMR, with the purpose of servicing the retail public.Pharaoh,
Just like Spot Forex itself, "Options on Spot Forex" are traded between banks and other liquidity providers through the same facilitators like Integral or Currenex that intermediate the spot market.
There is no "Forex Exchange". . .