Binary Options Platforms
This article overviews the process of BO trading platform selection. The key aspect that is considered while choosing a broker relates to the reliability of the software in use since all trading operations must be performed online. The modern sphere of web technologies offers advanced web trading platforms with high-quality services. Still, the levels of BO trading expertise may be quite diverse, which is why, one should take the process of selection seriously. The following tips may be helpful for you.
Select Appropriate Return Rates
The minimal return rate that has to be guaranteed by a broker you select equals 70%. In fact, the opportunity to be acquainted with the payout level before placing trades is a big advantage of BO trading. This way, you can compare the offers on different brokerages and select the one offering maximal returns.
Moreover, many trading platforms can partly compensate your losses by offering up to 15% refunds or providing the opportunity of early trade exit.
The types of assets provided by brokers are different too. Typically, the traders looking for more freedom tend to choose brokers with large lineups. One more advantage of BO trading platforms is the advanced news tool that offers the information about critical world market news.
Support Service Quality
Although BO platforms have high-quality services, even the most advanced brokers may fail in one way or another. Thus, we recommend choosing the broker with a good customer support platform so that to be sure your questions will be answered when you need assistance.
One more security precaution is the management of personal data on trading platforms. If you expect your funds to be protected, choose the brokers with high-quality data records and provide only accurate personal information about yourself.
The Types of BO Platforms
Two basic categories of trading platforms that are aligned with binary options are white-label (the ones generated by certain software firms) and proprietary (individually owned).
Since there is a number of brokers, which can not afford designing their own software, they usually turn to the companies that specialize in it. Although it helps to minimize their expenditures, whute-label platforms’ use has one consistent disadvantage, which is low customization of the externally-developed platforms. Furthermore, the firms that create software tend to impose certain restrictions on the options that may be used on their platforms. The most recognized white-label platforms are the following:
SpotOption – an excellent web-based platform, which is aligned with mobile device use, as well as MetaTrader 4. There are over 200 assets available on SpotOption and five categories of binary options types (paired, high yield, variable, call/put, and OptionBuilder).
Tradologic – in addition to features presented on the previous platform, this one also supports the integration with ChartPlus, which allows chart trading. The trade categories embrace 60-second, call/put, range, touch/ no touch, and one touch. In contrast to SpotOption, this platform does not allow traders setting the expirations manually.
Tech Financial – the platform, which is aligned with Orca+ trading system, has a web interface, and can be integrated with mobile devices and MetaTrader 4. The options to be placed on trade are 60 second, high/low, boundary, and touch trades. Expiry customization is not supported by this platform.
Proprietary Trading Platforms
The main advantages of devising platforms on brokers are the possibility to adopt them to traders’ needs and customizing expirations. The most recognized proprietary platform is Regent Markets Ltd, which offers diverse payouts ($1 - $100 000) and long option maturity periods (10 seconds – 1 year). The further popular platforms are Anyoption and StockPair that offer unique services such as trading on two assets and using fixed pair options.