NADEX Trial

expiated · Apr 10, 2019

Sig · Apr 10, 2019

expiated said:
Thanks! No, I thought the maximum number of contracts you could purchase at Nadex with one order was 10, but then I had a guy tell me he knew traders who purchased 20 or more at a time, so either Nadex changed its old rules or I just made it up in my own mind/head. To buy 50 contracts, I'd want to have at least $500,000 in my trading account, so I won't have to worry about that for quite some time—if ever.

Actually max you'd need would be a shade under $5,000 only if you bought something way in the money for binaries.

expiated · Apr 10, 2019

Sig said:
Actually max you'd need would be a shade under $5,000 only if you bought something way in the money for binaries.

Ideally, I don't like risking more than 1% of my available equity, in which case, I'd need $50,000. (I included one too many zeros before.)

expiated · Apr 12, 2019

expiated · Apr 15, 2019

destriero · Apr 15, 2019

So you're selling 20D garbage for $15 and praying.

#perfected

destriero · Apr 15, 2019

Sig said:
Were you trading more than 50 (or 200 for one market maker) contracts at a time? If not, and you don't anticipate doing so, then no worries, it won't impact you. If you are planning on doing that though, just be aware that once you burn through whatever the MM has on offer/bid they open their spreads for quite a while on that particular strike. Obviously you wouldn't see that in demo and that might lead you to believe you could scale beyond where you actually can on live, that's all.

He was not; and the demo and the production accounts don't quote the same size.

SteveH · Apr 15, 2019

Look, I hope you're right about your chances with Nadex from demo. But the consensus from past threads on them was that the spreads are so horrible that your win rate has to be very high. And if you're that good, a far more fair and profitable game would be trading vanilla options with 1 penny spreads at volume and volatility levels sufficient for your operations.

expiated · Apr 15, 2019

SteveH said:
Look, I hope you're right about your chances with Nadex from demo. But the consensus from past threads on them was that the spreads are so horrible that your win rate has to be very high. And if you're that good, a far more fair and profitable game would be trading vanilla options with 1 penny spreads at volume and volatility levels sufficient for your operations.

Who offers vanilla options?

I have been looking for an alternative to Nadex since February 22nd, but have yet to locate one. A contributor to these forums wrote that Cantor Exchnage and CBOE are the only other CFTC regulated binary options exchanges (a requirement for USA citizens) but it turns out that Cantor Exchange just recently discontinue listing Forex and gold binary option instruments (at the end of March) and CBOE offers only two binary options, neither of which are Forex—my specialty.

I also looked into financial betting via betonlin.ag, but they are either unwilling or unable to provide me with clear, definitive information regarding their withdrawal policy with respect to financial betting winnings, which I regard as a big warning sign, and will therefore have nothing to do with them.

When I look up vanilla options online, all I get are definitions and descriptions.

Correction: It looks like some outfit called Quedex offers them, but not for USA citizens. The same is true of EasyMarkets and London Capital Group. Were I to continue this search (which I'm not) I imagine I would once again confirm that, as a U.S. resident, Nadex is, practically speaking, my only choice when it comes to binary options.

Sig · Apr 15, 2019

expiated said:
Who offers vanilla options?

I have been looking for an alternative to Nadex since February 22nd, but have yet to locate one. A contributor to these forums wrote that Cantor Exchnage and CBOE are the only other CFTC regulated binary options exchanges (a requirement for USA citizens) but it turns out that Cantor Exchange just recently discontinue listing Forex and gold binary option instruments (at the end of March) and CBOE offers only two binary options, neither of which are Forex—my specialty.

I also looked into financial betting via betonlin.ag, but they are either unwilling or unable to provide me with clear, definitive information regarding their withdrawal policy with respect to financial betting winnings, which I regard as a big warning sign, and will therefore have nothing to do with them.

When I look up vanilla options online, all I get are definitions and descriptions.

Correction: It looks like some outfit called Quedex offers them, but not for USA citizens. The same is true of EasyMarkets and London Capital Group. Were I to continue this search (which I'm not) I imagine I would once again confirm that, as a U.S. resident, Nadex is, practically speaking, my only choice when it comes to binary options.

Every broker offers "vanilla" options, those are what we call plain old puts and calls. You're correct that now only Nadex offers forex binaries to U.S. customers. Binaries are generally called "exotics" vice "vanilla" for regular options. One of those lingo things that makes about as much sense as "American" vs "European" expiration.