retail binary option software?

I keep seeing these ads for binary options, make 70% in an hour. all you need to do is guess the direction of an instrument for the next hour and you earn 70%. Are these firms/software legit? It seems like an easy task for someone skilled in TA--right?It also seems like a good way for an undercapitalized trader to get into the game, start out with $100.00 and make 70%--where else can this be done?
http://tinyurl.com/70-hourly and if so, who offers the best deal? Or do they all funnel thru the same backbone?

there has got to be a way to game this system, any thoughts?

thanks,

Jack

 

The fairval for a pick-em binary is 1:1. So any payout at 70% is theft. Underlying at 100... you take the bullish bet expiring at end of day. 99.99 or < and you lose 100%. 100.01 and > and you win 70%. Does this sound like a reasonable vig to you?

 

Whoa, yeah that is outrageous--but I think its the only way for retail low budget to play the game, maybe i am wrong. You lose 85% not 100% from the link I found. Are these guys even legal in the USA? Can you recc a binary platform for retail that offers better situation for a low cash player? not forex thanks!

 

www.nadex.com

$2B market cap company based in the UK.

 

-- but they don't offer individual stocks, otherwise great idea thanks

 

is this legal in the US? if so, I would set it up myself and take the bets. The only way I see to game this is to make binary bets on very illiquid underlyings and just prior to expiration push it through.

 

Not legal in US (for non fx products) save for nadex, which is registered as an exchange.

 

Surf, a buddy of mine is developing binaries on stocks for accredited investors. They range in time from a few months out to a year. Any stock. If you are interested, let me know.

 

Currently the CBOE offers Binaries on the SPX and VIX. Monthly expiration. Not a lot of Volume, but and interesting trade.

 

According to atticus, they are not legal in the US, but it seems like you can open an account in Cyprus, as a US Citizen with these guy http://tinyurl.com/70-hourly I am not really sure if he meant its illegal to trade this way in the US, or just illegal for a dealer to be domiciled in the US. Yeah, its seems like you could set up a Cyprus LLC and do the same thing easily--- as long as its legal for a US citizen to do so.