As I outlined in my introduction to financial betting, the market is changing very rapidly at the moment, with $inary bettingning in popularity, for reasons which I hope have become clear over the last few pages. As a result, some of the spread betting companies are now beginning to offer a dual trading platforms for both spread betting and binary betting in order to retain their existing clients and also attract new ones as the binary betting market matures and develops. In order to try to differentiate between the various types of companies, I have broken these down into two distinct groups. The first are those which I believe are specialist binary betting companies, whilst the second group are those companies which offer binary betting as an additional service alongside spread betting.

Review of binary betting companies

As I have mentioned several times already, the binary betting industry is only just becoming established, and in the last 2 years we have already seen several companies close, withdraw from the market, or acquired by other more profitable organisations. As a result, there are only three dedicated binary betting companies trading at present, and even one of these is owned by one of the big spread betting companies. No doubt there will be others, but you do need to exercise extreme caution when trading with these companies as they have a relatively short track record, and may not fall under the regulation of the Financial Services Authority with all that this entails. Indeed binary betting as a market does NOT fall under the jurisdiction of the FSA at present, so even if you trade $inary optionsh a UK company, the same regulatory approvals do not apply. Like the $orex market pays to do your research and check out the company you are dealing with, before depositing large sums in your trading account.

NADEX

Nadex is an American based organisation in Chicago, offering binary options which are classified as ‘simplified derivatives’, and is regulated by the CFTC. The company was originally known as Hedgestreet, which was acquired in 2009 when the  name was changed to Nadex ( North American Derivatives Exchange). However, the company has much closer links to the UK, as it is also part of the IG Group in the UK, one of the largest and most well established of the spread betting companies which owns both IG Index and IG Markets, and is now a constituent of the FTSE 250.The company offers a wide range of binary options, across several markets including indices, stocks, forex, metals, the energy complex and even soft commodities such as soya bean and corn – a wide portfolio.

The company offers a fully customisable trading platform, which is browser based, allowing you to trade form anywhere in the world. In addition, and perhaps more importantly, all trading is based on direct market access, allowing you to see the depth of the market before trading, with your orders placed direct into the exchange. The platform is backed by a suite of powerful analysis tools along with streaming news and updates on the latest fundamental news. Nadex offer a free demo account with a $25,000 dollar fund to allow you to test your binary betting strategies.

Tradesmarter

Tradesmarter is based in Cyprus, and one of the latest companies to enter the binary betting market. Their current portfolio is limited to a small number of the major forex pairs, several stock options for blue chip UK and US equities and three commodities, namely oil, gold and palladium. The company offers a fully customisable trading platform which once again is web based, and this is also available as a demo version.

Optionbit

Optionbit is also based in Cyprus, and is once again a very new player in the binary options market. The company offers a much broader product range than Tradesmarter, and includes indices, 15 currency pairs, several stocks and a good selection of commodities including silver, copper and oil.

Spread betting companies offering binary betting

City Index

City Index – one of the biggest and most established players in the spread betting industry, now offer a binary betting platform alongside their more traditional spread betting portfolio. At the moment the markets they offer are rather limited, but no doubt these will grow in due course as the binary options market develops. At present they only offer bets on the euro vs dollar, pound vs dollar, and five of the major indices, both hourly and daily. Of the more exotic bets, the only bet they offer at the moment is a one touch. You can find more details by clicking on the link above. City Index is part of IPGL, a privately owned company with a substantial shareholding in one of the world’s largest derivatives brokers, ICAP plc.

Finspreads

Finspreads – another company with strong connections to the spread betting market is Finspreads, and indeed the company is now owned by the City Index Group so has strong financial backing. Finspreads like City Index offer a very limited number of bets and markets, and indeed their binary betting information page is hard to find, so I have included the link here. The markets offered at present are currently 5 indices on a daily and hourly basis, crude oil and the eur/usd and gbp/usd. The only exotic bet they offer at present is a one touch.

IG Index

IG Index – the founder member of the spread betting market, IG index offers the best and most diverse markets for binary betting, including indices, forex and commodities. In addition they also provide a wide range of exotic bets including all those I have outlined in the betting odds section. All this is backed by the reputation and financial muscle of IG Group.

Naturally as the binary betting market matures and develops there will be other companies who see the opportunities and benefits that this unique trading approach offers, and I will endevour to keep this page updated regularly.