Full Review of MarketsPulse Binary Options Trading Platform
Lately the MarketsPulse platform is gaining more ground on its competitors and slowly but surely, more brokers start to offer this platform to their users. At first glance, the platform is user friendly and intuitive so there’s almost no learning curve for its basic use. Adding to this is the possibility of trading directly from charts by clicking on the UP or DOWN arrows that appear on each side of the current price level. I really can’t say that it’s one of the most attractive platforms, but functionality prevails over attractiveness when it comes to trading because I need to make quick trades and maximize my chances of success, not just sit and admire the platform’s beautiful design.
No technical analysis can be conducted using the charts provided by them, but this is not a big drawback compared to other platforms because none of them offer at least a simple trend line drawing capability.
Markets Pulse platform rating
Platform functionality: 8.5/10
Platform efficiency: 8/10 several trades returned errors and could not be placed
Ease of use: 9/10 trading directly from charts is a good addition
Additional information: 8/10
Expiry times: 30 sec, 60 sec, 5 minutes, 15 minutes, Hourly, Daily (8.5/10)
Trading tools available: Sell the option and get back a part of your investment (7.5/10)
Trading Options available: High/Low, One Touch, Range High/Low, Option on Demand, Quick Options (9/10)
Prices and rates: Highly Accurate (LightStreamer)
Why Markets Pulse platform doesn’t Suck?
The thing I like most about the platform is its ease of use for a novice trader. All the trade-related functions are easily found and the platform executes the order almost instantly. Of course, there is a slight delay between the time you confirm the trade and the actual execution, but this is probably related to the internet connection speed and I would recommend keeping internet use at a minimum when trading with any web based platform. The way to select expiry times has improved lately and that’s a good thing because some time ago you had to scroll from left to right at the top of the chart and look for the desired asset and the desired time. The same asset was encountered several times but with different expiry times and that proved difficult, especially if you had to make a quick choice.
Why Markets Pulse platform Sucks?
When testing the platform I received some weird message about the account not having enough margin to place the trade, but I can assure you that the margin was enough. On my second try, the trade was executed with no problem, but that still remains a worrying issue. A common problem among Binary platforms is the lack of history on the charts. Markets Pulse is no different and you cannot scroll back the chart to see previous price action.
However, the most bothering thing is the fact that I can only see one asset chart at a time and if I want to watch another one, I have to click on the new asset I want to analyze, replacing my current chart. This hasn’t changed yet and is the reason why I rated it just 7.5 on the “Additional information” section.
Markets Pulse Platform Technology
Markets pulse has a lot of ground to cover until they can compete successfully with the other well established platforms. But this is not always a bad thing because if they want to be the best, they must put a lot of emphasis on their technology and functionality. This eventually benefits the front end user so me and you and everybody who uses the platform. At the moment they are using the latest .NET 4.0 technology, the actual user interface uses Java Script, Flash and APT and the live prices are streamed in real time using the LightStreamer technology. LightStreamer is also used by J.P. Morgan, Sony Music, Morgan Stanley and NASA, to name just a few.
Markets Pulse brings a real innovation in the field of mobile trading, being (according to them) the only technology provider that offers native Binary Options trading applications for both Android and iPhone. Being a native application, it means that your phone will not load the web page every time you access the mobile trading platform, but instead it will use a local installation of the mobile platform, decreasing response time and making it a more enjoyable and responsive experience. They also offer a tablet mobile platform that uses HTML 5 support.
My trading experience with the Markets Pulse platform
My favorite trading asset class is Currencies and this is mostly due to my Forex background. I feel comfortable trading Binary Options with currencies as an underlying asset because I know what influences different pairs and I can apply good technical analysis using Meta Trader 4 charts.
For this trade I chose the USD/JPY pair and for the strategy, I decided to go with the Simple Balanced System. The pair was in an uptrend and price was around the 81.33 level when a bullish cross occurred on my two exponential moving averages (5 and 10 EMA), after a small retracement lower. The Relative Strength Index was already above the 50 level and all I needed was to check the Stochastic. It was in oversold territory, and it looked good for a Call, but the strategy requires me to wait for the Stochastic to be moving up, not just in oversold territory. I decided to wait for all the three rules of the strategy to be met before placing the trade. But price started to rise before my Stochastic did and I became worried about missing out on what seemed like a good trade. When finally my Stochastic agreed with my trade, price already moved to 81.40. The Markets Pulse platform was not yet open because I wanted to test how quick I can place a trade once I get a good signal from a reliable strategy. I was already running late because of my Stochastic delay so I needed quick execution for my trade. This is where trading directly from the charts really made all the difference, because once the platform loaded on my screen, all I had to do was to click on the UP arrow on the chart and select the desired amount. No additional confirmation window appeared (or other type of delays) and my trade was in the Markets almost instantly. Fifteen minutes later my Call option expired In the Money, making me a happy trader.
To sum it up, I had a good experience trading on the Markets Pulse Platform, but if you want to watch several asset charts at once, you have to go for a charting package (maybe MT4) and just place your trades on the binary platform, because like I said earlier, you can only view one chart at a time. While testing the platform I placed numerous trades randomly just to see if I receive some error messages and that’s when the “margin error” occurred. Under normal utilization conditions, probably a trader will not place so many trades so quickly, but it is something the developers need to address if they want to compete with the best platforms out there.
- Trade directly from charts
- Ease of use
- Fast and responsive
- Native Mobile Platform
- Difficult to choose between assets
- Minor issues related to trade initiation
- Lack of polished graphics