Over the past several years, the trading of binary options online has become hugely popular. One reason for this is because traders can easily enter the market without much initial experience. In addition, because the expiry times for binary options are oftentimes short-term, traders have the ability to make quick profits in this market.
One of the biggest advantages to trading binary options is the fact that these transactions can be undertaken from the comfort of one’s own home computer. And, because binary options trading can take place virtually 24/7, it offers individuals the added advantage of being able to trade whenever and from where ever they choose.
What makes a good Binary Options Trading Platform?
There are many binary options trading platforms available for new and experienced traders to enjoy, but what makes some of these stand out form the crowd? Many binary options platfomrs offer similar features and trading interfaces. These interfaces are often as simple as possible and provide a clear and straightforward disply for entering as well as monitoring positions.
Another, thing to look for in a good binary options platform is that it is 100% web-based. By this, it means that it can be accessed through the brokers website via a simple online login. Those binary options platforms which require a software download to access the platform are not necessarily worse than the web-based platforms but it is worth being aware that they will only be tradeable from the computer containing the software. For many traders, this may not be a problem but for those who need to be mobile, access from any internet connection and smartphone can certainly be helpful.
Along with being much more accessible, many web-based trading platforms also offer a mobile binary options trading platform. These are currently designed fro both the Android and iphone platforms and allow traders to monitor positions as well as purchase new bianry options on the move. For those who don’t want to be stuck in front of a computer screen this can be highly advantageous and provides the opportunity for these trades to be taken from any location.
Binary Options Trading Platforms
There are many online platforms available today for binary options traders, and each offers a number of various amenities and advantages for their users. Typically, these platforms provide educational opportunities as well as trading access so that those who are new to the binary options arena can feel comfortable prior to trading with real funds.
Some of the top binary options trading platforms include:
Tradologic
The Tradologic binary options trading platform offers its users a wide variety of options and features that can assist end users with their trading experience. This platform’s Management System, TradoMS, provides real-time advanced user management in order to help traders in better understanding as well as actually trading in the binary options market.
Key products that are offered by the Tradologic platform are:
- BINARIX – This multi-browser works with a number of operating systems, providing a great deal of flexibility for its users. It has multi-currency, multi-language, and multi-time zone support. In addition, with the platform’s multi-asset feature, users have over 80 different exchanges and over 500 individual financial instruments from which to choose from. Traders can also utilize BINARIX from a number of different mobile devices, including tablets and mobile phones.
- OMNIX – The OMNIX platform includes a content management module that helps binary option trading platforms with promotion, management of financial tools such as deposits and withdrawals, and sales performance. OMNIX can also be specifically customized in order to reach a particular platform’s target customer base. Just some of the additional tools that are offered with OMNIX include market data feeds, servers hosting, trading risk management, payment processing, fraud prevention, and help desk/support.
- TRADIX – TRADIX offers users a number of highly usable features as well, including a pricing engine with advanced price algorithms, monitoring and alert screens, and a risk management tool that can help users in limiting their risk exposure and managing deals.
SpotOption
The SpotOption binary options trading platform provider was established in 2008, in response to the Options Clearing Corporation rule change to allow binary options trades. SpotOption offers the ability to trade over 200 different assets in 20 markets around the globe.
This platform allows users to customize their own options using Option Builder whereby traders may opt for their choice of expiry time as well as their profit/risk ratio. Traders are also able to trade via SpotOption using smart phone options for the iPhone.
Binary option trading operators may also choose SpotOption’s white label program where they may become an independent operator and receive a license to use the SpotOption software. In doing so, an operator can receive all of the SpotOption programs and services that are offered by this platform. This can save the operator a great deal of cost in terms of staff, development, and IT infrastructure.
The Bottom Line
Regardless of which type of binary options trading platform is chosen by an operator, it is important that the end users are offered the ability to obtain the necessary education that will help them in correctly analyzing and placing profitable binary options trades. This will help in creating a win-win situation for traders and platform operators alike.
