A Guide To Choosing Binary Options Trading Platforms.
Binary Options trading is a high-risk alternative to Forex trading that allows a trader to make quick and significant gains within a short amount of time. Binary Options are highly suited to those traders who do not wish to spend countless hours in front of a trading terminal to manage their trades.
Binary Option trading allows investors to earn a fixed return on all winning trades and also incur a fixed loss on all losing trades. The fixed high-yield potential of Binary Options is highly advantageous for traders who can take advantage of the market volatility during news events and high volume trading sessions.
Although Binary Options is a relatively new concept in investments and financial trading, several leading software providers have designed and developed excellent Binary Options trading platforms that are used by brokers under various licenses. Several new players are also entering the market by developing innovative new platforms that aim to satisfy the requirements of the modern-day investors.
Some of the more established Binary Options brokers also develop their own proprietary binary trading platforms which involve designing a new interface from the ground up. Although developing a new Binary Options trading platform is an expensive affair than licensing an existing one in the market, a proprietary trading platform will have its set of unique advantages. However, proprietary Binary Options platforms are very rare, as most companies choose to use a white label platform or license an existing binary trading platform for their brokerage services.
What Are The Core Binary Trading Platforms Available In The Market?
There are three highly popular core binary trading platforms in the market licensed by a majority of Binary Options brokers in the industry, which includes SpotOption, TechFinancials, and Tradologic. Of all the three widely adopted trading engines, SpotOption is the most used and highly preferred trading platform. Industry leading binary brokers such as Banc De Binary and Finpari uses the SpotOption platform, which makes it one of the most aspired trading platforms in the market.
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Other trading platforms such as TradeSmarter and MarketsPulse are also popular among smaller brokers, but SpotOption excels in the field by providing the maximum number of financial instruments, mobile platform compatibility, and a broad range of trading functionalities. Most of the regulated brokers tend to use the SpotOption platform, which lends it more credibility than other trading platforms.
Traders are bound to notice a few minor differences between the different broker versions of the same platform, which is nothing but simple tweaks done by the broker to make their services and platform more unique than their competitors. Brokers usually modify their licensed platform to suit their company’s overall theme, and some brokers also invest in heavily customized versions of the standard platform for advanced features and benefits.
A Brief Comparison Between Binary Option Trading & Forex Trading Platforms.
There are numerous differences between Binary Options trading platform and a Forex trading platform. Forex trading involves investing in the currency markets where the resultant outcome is determined by the number of pips of movement in any direction. The gains and losses in FX markets are defined by the size of the position and the magnitude of change, while in Binary Options trading, the gains and losses are determined by the direction of the movement. Therefore, Binary Options trading platforms are considered to be far lighter and less resource intensive than Forex trading platforms.
Forex trading platforms have several tools and indicators that enable a trader to perform extensive technical and fundamental analysis. Most FX platforms are desktop based and are required to be installed on a computer. Desktop platforms are a prerequisite for traders to enjoy the full range of features on offer. There are several mobile trading apps and web browser based interfaces designed for FX trading, but most traders prefer to use standalone dedicated trading terminals to trade in the Forex markets.
Binary Options trading, on the other hand, is mostly web based, and a substantial number of binary traders also use the different mobile trading apps offered by their brokers. Binary traders receive an tremendous amount of information through trade signals and other market updates, which reduces the need for traders to perform research and analysis on their own. Therefore, it is not mandatory for investors to install any software on their desktop terminal to trade binary options.
Binary Options platforms are also graphically more advanced than most of the Forex trading platforms. Binary platforms are very easy to use and are self-explanatory. Binary options brokers mostly concentrate on providing a browser-based platform or a mobile app, especially since the most popular binary platforms are designed around the web browser based interface. Therefore, as far as the visual appeal and ease of use are concerned,
binary option auto tradig Options trading platforms are more advantageous than FX trading platforms, but when it comes to sheer utility and performance, Forex trading platforms have the edge.
The Most Suitable Platform For Trading Binary Options.
Trading Binary Options should be considered as a serious investment, especially considering the risk factor associated with the market volatility. Binary Options trades are usually over within seconds, minutes, or even hours at the most, and the potential loss or return is close to 100% of the invested capital. All winning trades can earn up to 90% profits, but losses can wipe out the entire investment capital. Therefore, traders should choose a safe and reliable platform before deciding to trade binary options.
Every trader in the market has a different trading personality, and no two traders can be considered alike. Therefore, it is impossible to create a trading platform that is custom tailored to individual requirements. However, some of the best Binary Options brokers are committed to understanding their clients’ needs and designing a platform that satisfies most of their needs.
To find a suitable platform for trading Binary Option, you should browse through different platforms available through multiple binary brokers and carefully select a platform that suits your comfort levels. Unlike FX trading, most Binary Options brokers don’t offer a demo account that will help you to test the platform before opening a live account. Consequently, you should always find a broker that provides a demo trading platform or at least enable you to put on a few risk-free trades before entering the market with real money.
Getting Binary Options Signals As A Part Of Your Binary Options Platforms.
It is natural for amateur traders to choose brokers that offer free signals upon opening a live account. Of course, free trading signals are ideal for traders who can’t predict the markets accurately, but as a trader, you must realize that binary options brokers are at the opposite end of the spectrum, and wouldn’t want you to make money. Unlike Forex trading or traditional stock trading, Binary Options trading involves pitting the trader against the broker. Therefore, if a trader wins, the broker loses, and vice versa. Therefore, binary signals are mostly designed to give the broker an edge over a trader, and all binary options signals will ultimately result in a complete account wipe-out.
