In order to trade the binary options market, traders must execute their trades on platforms. All binary options platforms are either web-based or mobile-based. We will therefore discuss binary options trading platforms under these two platform types.
These are the traditional binary trading platforms that are used on the binary options market. Every binary options broker offers web-based platforms. There are basically four different trading platform solutions used in the market presently. They are as follows:
– Tech Financials
– Proprietary platforms
The SpotOption trading platform has the widest use in the market. This is the trading platform used by brokers such as Banc De Binary, iOption, TradeRush, Zoomtrader, Dragon Options, Option365, OptionClick, Fonbet, Ikko Trader, etc. It is on this platform that 60 second options were first introduced to traders. Other trade types offered on SpotOption are the conventional Call/Put options (also known as Up/Down) and the High Yield Touch option. Range binary options are not offered on Spot Option.
Tech Financials Ltd’s binary trading platform is unique in that it has a plug-in for the MetaTrader4 platform, which is an industry first. The Tech Financials trading platform is used by brokers such as OptionFair and 24Option. Traders using the Tech Financials platform can trade the In/Out range option, the High/Low option and the Touch/No Touch. Given the increased popularity of the 60 seconds option, this has also been added to the product offering.
Tradologic’s BINARIX™ trading platform is used by brokers such as RTOption, BinaryWinner, Almishal Trading, OptionBit, GFMTrader and OptionXP. This binary trading platform offers the Touch Up/Down In/Out and Digital Call/Put options.
Proprietary platforms are custom-made binary trading platforms which the brokers have designed for themselves according to their own requirements and trade contracts that they offer traders. Sometimes a broker may design its own trade types which are distinct from what obtains on the white-label platforms mentioned above. This is where proprietary platforms come into play. Betonmarkets and Saxo Bank are two binary options brokers who feature proprietary platforms.
Mobile-Based Binary Trading Platforms
With the advent of the smartphones in 2007, companies realised a solution to an age-old problem that traders had, that of portability. With a desktop or laptop, it was impossible to trade on the go. Traders had no true chance to check positions while out for dinner, travelling or even on the golf course. The design and production of trading applications built specifically for the smartphones gave traders access to a fully portable solution to enable binary trading anywhere they went. Smartphones and tablet devices have become the wave of the future, as traders are dumping the traditional computers for these sleeker wonders of technology.
The only difference between the web-based platforms and the mobile versions is that the mobile versions are built specifically to adjust to the different environment that the smartphones and tablet devices offer. For instance, being able to adjust to the reduced screen sizes and still get a very good display is a major challenge that the trading applications for the iPhone, iPad, Android and Windows mobile devices have been able to surmount. Smartphone trading is now available with brokers like Saxo Bank, Banc De Binary, OptionFair and Betonmarkets. As the revolution catches on, we will see more brokers offering mobile platforms for trading.