New Tools For Binary Options Traders, Or The Same Old Thing?
The rush to attract and retain clients is reaching a milestone as a number of top technology providers have announced new efforts to expand their reach. The latest wave of products, gimmicks and partnerships comes on the heels of several industry conferences and most are expected to hit the market for traders in mid 2016.
The First P2P Binary Options Exchange, Not Even
Ultima Capital Limited, registered and headquartered in St. Vincent and the Grenadines, has launched what they call the 3rd generation of binary options platforms. The new platform, called TradEqual, is a peer to peer platform that is seeking to disrupt the traditional model of “trading against the house”. Their model allows traders to buy and sell options to each other on a social trading style platform where users are able to share ideas. They claim to be the first such binary options exchange but long time and well informed traders know that NADEX, Cantor Exchange and IG Markets have been offering this style of trading for many years.
Features include a chat room to discuss trading, the ability to write and sell options and an “order book” that shows open and unfilled orders. Buyers are able to choose from among a list of offered options, sellers are able to tailor the risk/reward profiles of options they wish to sell. While an interesting concept the exchange is not yet widely used which means there are few options being offered, and little chance for orders to be filled. For more information about this new platform you can visit our forum.
Mobile Trading Gets A Fresh Face
Mobile trading has been growing in popularity but as yet no platform matches the quality of a top level desk top broker, even the ones offered by industry leaders. Technology provider Tradologic, a leader in desktop trading, has decided to focus its attention on mobile traders by giving its mobile platform a much needed face lift. The platform, called Mobix, is scheduled to launch by the end of May, 2016, and includes a number of upgrades of interest to traders and will be available on iOS and Android based mobile platforms.
The first and probably the most obvious is the platform itself. The trade view will more closely match what is available for desktop traders making it much easier to navigate and use. Along with the face lift are a number of new features previously unavailable to mobile traders. These include enhanced charting and more assets. Charting will be available in multiple time frames and can be viewed as a line chart, an open-high-low-close bar chart and in candlestick mode. The asset list will also be expanded, most mobile apps are notoriously light on tradable assets, this one will include all the top indices, forex pairs, stocks and commodities typically available to desk top traders.
Martin Parvanov, Tradologic’s product manager, had this to say in an interview with FinanceMagnates: “Our goal was to create a clean, intuitive and easy to use mobile app and I am very happy with the result. It clearly stands out among the many trading apps currently available on the market.”
We here at ThatSucks.com (former BinaryOptionsThatSuck.com) are exited for this new development and are eagerly awaiting its launch.
Asian Expansion Seen As Key For Industry Growth
Asian based traders can get exited by a newly announced partnership for TechFinancials intended to bring better binary options trading to the Asian market. TechFinancials, the first technology provider to list on the London Stock Exchange, announced the 2nd of two joint ventures with Hong Kong based firms. The latest JV is with IBID Holdings Limited, a company in business to help growth oriented online companies, is intended to grow TechFinancials Asian presence in China and other Asian nations. The deal would create a new company, 51% owned by TechFinancials, in which IBID would invest $300K and TF would provide proprietary technology and the core brand. The JV is expected to launch as early as May 1st of this year and is expected to last at least until mid 2017. The deal is contingent upon a trial period in which certain goals must be met in order for the JV to move forward.
TechFinancials had this to say in a press release posted on their website: “The Company is very pleased to be forming this Joint Venture with IBID. The Board believes the JV will prove highly beneficial to the Group, providing sales and marketing expertise and additional working capital to grow the brand. In addition, we believe that the combination of mutual strengths of the Company and the Partner will substantially strengthen operating performance. The collaboration continues our stated strategy at IPO which is to further expand our business through partnership with key players in the online B2C space. The Board believes the JV will improve the long-term sustainability and consistency of our growth prospects while generating extra cash flow.”
Free Money To Trade? Different Angle to Trading Technology
O-Systems, a lesser known technology provider, is unleashing what they call O-Freemium. This is a new tool intended for the brokers but has deep implications for traders as well. Basically, it is the ability to trade for free on O-system platforms but comes with some caveats. First, free means a light version of the platform. In order to get the fully featured trading application you will have to make a deposit. Second, when using the “free” services you will be continually plagued by pop-up ads leading traders to make deposits. Third, the free service only allows you to trade with $35, not very much for experienced traders or newbies. Fourth, the “free” service is nothing more than a no-deposit bonus and we all know that those suck. Fifth, at best this free service can be considered a demo account and as such, is not that great. Nevertheless, we appriciate technology providers and brokers trying to provide a new angle for trading, whether it’s what traders look for or not, only time could tell. O-Systems Freemium Services.