Of all the spread betting companies that are currently developing binary betting platforms, IG is by far the most developed in this area, and as we have just seen, they are now attempting to penetrate the US market with NADEX, which now offers a sophisticated suite of products, all delivered on a direct market access platform for complete transparency, with no dealing desk or broker intervention as a result.

IG Index

In the UK, the ig binary betting platform is the most developed amongst the spread betting companies at present, and I have included the relevant link to their binary trading page here. In terms of the markets covered, these are currently indices, forex and commodities, but in each market there are a wide range of instruments to trade. In indices for examples, as well as the FTSE100 and Wall Street options, ig also offer the Japan 225, as well as all the major European indices along with the Far East exchanges including Singapore, China and Taiwan. In the forex markets, IG offer the major currency pairs with binary bets quoted against an 8pm close, with commodity binary bets in crude oil gold and silver.

As I have mentioned before, the binary betting industry is not yet regulated by the Financial Services Authority, however, the binary betting portfolio from IG Index is regulated by the Gambling Commission of which you can find more details here.

So what are the other spread betting companies offering at present in the way of binary products? – let’s take a quick look.

City Index

City Index offer a very limited number of instruments for binary betting at present, and their portfolio is limited to 5 of the major world indices and three currency pairs. Unlike IG Index they also offer only limited exotic binary bets, and at present this is limited to a one touch bet. No doubt they will expand their portfolio of instruments and binary bet options in due course.

Finspreads

Finspreads is of course owned by City Index, so the choice in the UK at present is rather limited! As you would expect the products offered by Finspreads are the same as for the parent company City Index and I have included the relevant link. Just like IG Index this aspect of the companies services are regulated by the gambling commission.

No doubt over the next few years, the number of binary betting products and services will increase as this form of financial betting begins to gain in popularity and market coverage. At the moment it is early days, and many of the spread betting companies are simply waiting to see how the market develops before committing resources to this new market, which may ultimately become a threat to the more established spread betting industry. Only time will tell – some big companies have already joined and left the market such as Betfair, whilst others have been taken over such as Hedgestreet. The new companies now starting up in the market are very new, largely unregulated, and generally offshore, so the whole market has a sense of the early days of the forex market. So my advice is check out your chosen binary betting company carefully, before jumping in!