Football Index Order Books:
Our Guide & Tips
Table of Contents
Football Index Order Books Guide
This post will be quite a slow pace, as Football Index Order Books will be a new term for the majority of traders. Remember, we all came from betting backgrounds, placing accumulators, now we are expected to be professional traders & understand all of the ‘lingo’. I’ve got Order Books covered in todays article, which will help you understand the platform changes on Football Index.
I’ll be taking this from the very start, so if there’s terms you’re already aware of, feel free to use the Table of Contents & skip to the part you require.
Football Index have aimed to implement Order Books for quite some time. I recall as far back as the Twitter Q&A session that Adam Cole used to run in 2017, where he stated he would be trying to get this active as soon as possible.
The truth is, with so much money in the market, alongside betting regulations which must be followed in a specific manner, it wasn’t something that Adam Cole could implement overnight.
Football Index has since matured, partnered with NASDAQ & now in a position where they are bringing Order Books to the platform.
The first stage of the Order Book has been active for quite some time, with traders able to place Bids, or Buy Requests, on players they wish to purchase.
Ready to Start Trading?
When you register at Football Index, you can claim a special offer. This will enable you to trade risk free, where any losses up to £500 are refunded, as cash. Remember to use code FIA when you sign up.
What is a Bid?
A Bid is where you will place a Buy Order for a player that you want to purchase.
For example, Jadon Sancho is priced at £15.21 currently, but you are able to place a bid on him lower than this.
To prepare to place a bid, you must click the market buy option for Jadon Sancho, which then prompts you to Buy Now, or Make a Bid.
Once you’ve selected Make a Bid, another box will appear. This will show the amount of shares that you want to purchase, which you can increase to a maximum of 300.
It will also show a bid range, which is currently showing from £12.59 to £15.20.
This means that you can place a bid as low as £12.59, although realistically that wouldn’t match up unless he broke his leg!
If another trader decides that he wants to take you up on that price, he can sell his player for the bid that you specified.
Until then, the money that you used to place your bid would sit in your Open Bids/Offers area, as your offer is still pending.
This page is very helpful, as it helps you to see how many have matched, but also showing the price that you bid, alongside the price changes.
For example, I have tried to get 5 shares in Achraf Hakimi for £3.34, but another trader has outbid me, with his sell price now rising to £3.39.
Here’s where it may get tricky.
The Sell Price will work out to be the highest bid by a trader.
If nobody had outbid me for Achraf Hakimi, his sell price would be £3.34.
Also, if someone decides to sell all of their Hakimi shares for £3.39, his price could drop to £3.34 and I’d be the next bid.
If I was unhappy that I’ve been outbid, I also have the option to cancel my bid & re-bid, bidding £3.40 to force myself to the top of the queue.
This can create a competitive market, where it works out good for sellers! Equally, a player with no demand would struggle to recieve a high bid, as there’s nobody that fancies making an offer.
What is an Offer?
The terminology in trading markets can be quite strange for those that aren’t used to the markets. I’m no trader, it took me a while to get used to the terms too.
An Offer is a way to sell your shares, ‘offering’ them out to traders at your specified price.
Offer can sound like you’re offering to buy, but remember, Bid is Buy, Offer is Sell.
I’ll try and think of something catchy!
On the 10th September, Offers will go live. This will allow traders to set their own sell prices.
Traders will still be able to instant sell, alongside placing their Offers.
- Buy Orders which are placed at the BUY NOW price, will instantly match the lowest priced offers.
- Sell Orders which are placed using INSTANT SELL, will match against the highest priced bids.
The Bid Zone on Football Index
If you’re an existing trader, you’ll already know what the Bid Zone is. Or you should!
The bid zone is what I mentioned above, where there’s a specific range that you can place your bids in.
The Offer Zone will be the addition, which will be a specific price range where you can place your Offers.
What’s new, is that the upper limit of the Offer Zone is going to be £0.10 above the Buy Now Price.
Removal of the Sell Queue
The Sell Queue is going to be removed, with Offers being it’s renovated replacement.
This is a gigantic leap for Football Index, who will then be able to integrate NASDAQ & make further progression towards a professional trading platform.
Bids were added as an improvement to Buying Shares, and Offers work in the exact same way. They are here to improve the way that you can sell shares.
The Sell Queue is in preparation to be removed on the 1st October 2020.
Depth of Market
To make the Buy & Sell Queues more transparent, Football Index will need to add a Depth of Market tool. This is something which will enable traders to see the supply and demand for every single player on the platform.
It’s coming soon, with no guaranteed date but an expected Q4 2020 release.
Are you ready for Football Index order books?