Anyone have opinions of Hedgestreet and their binary options?

Discussion in 'Forex' started by snackly, Mar 21, 2009.

  1. snackly


    Reposting this here because it got no responses in the Options forum:

    Anyone have any thoughts on Hedgestreet's FX binary options? They're CFTC regulated and an NFA member. Their FX binary options they settle using the Reuters FX feed, which means you don't have to worry about them yanking strings on you (if you're coming from the FX spot world of arbitrary pricing). Everything settles on the Reuters feed, which they have no control over. That is transparency if you ask me.

    Liquidity seems pretty decent but not great, although losses are capped at the premium and there is no leveraging, so it's hard to see any major downsides.

    The problem I see with Hedgestreet is their order management system is terrible, they don't provide any market data feed (greeks or even the underlying spot rate) outside of what is updated on their website, which is very difficult to use and can't be integrated into your own trading platforms. So you're sort of trading with one hand behind your back. They are saying they are updating their platform, we'll have to see. Plus there is no overnight trading, although they have said they plan to expand on that.

    Anyone have experience with them? I am only interested in FX options, so if you can recommend a better alternative I'm all ears. I know ICE and CME have FX options, but they are vanilla only as far as I can tell and require much greater margin and minimum account balances with the brokers.

    Btw Hedgestreet also has binaries on commodities, equities indices and economic events. I'm still surprised there is no noise around here about them.
  2. Snackly,

    As a part of the HedgeStreet Customer Service team I would like to thank you for your interest. It looks like you have done a good bit of research on us and we would like to respond to some of your inquiries.

    On behalf of the HedgeStreet Exchange, we would like to inform you that in an effort to provide the most efficient and up-to-date platform for our customers we are constantly working on improvements to our service which may include extended hours, a faster and more customizable platform, and more convenient data feeds.

    We appreciate your suggestions and are happy to answer any questions. See contact information at