PandaTS Binary Options Platform and B2B Review
Panda Trading Systems, or PandaTS for short, is a leading provider of software for the forex industry. They have entered the binary options world with a new platform that can be used as a stand alone broker or integrated into an existing forex/MT4 package. What does this mean? It means that you may start seeing more and more forex brokers using this platform to enhance their offerings with binary options. The technology and platform are impressive to use but still a bit limited in terms of assets and expiry. As a whole, the platform is good and one that I expect to see more on in the future.
It makes sense that since the platform has come from the forex side of trading that it is forex heavy. The platform support most of the commonly traded pairs and short term expiry such as 30 second, 60 second and 5 minute. Since it first hit the market the platform has been expanding and now includes a handful of commodities, international indices and stocks. The platform, like so many, is not limited to merely trading high/low positions. It also support Touch, Range and Hyper Trading, what they call 60 second speed trading.
PandaTS Platform Ratings
Platform functionality (10/10) Perfect score for assets and options
Platform efficiency (8/10) Some problems with trade execution
Ease of use (9.5/10) Very clear, very visual layout
Additional information (8/10) Ebook,
Expiry times (5/10) –Short term, end of day, end of tomorrow
Trading tools available – Some tools
Trading options available – High/Low, touch, range, Hyper
Prices & Rates: Highly Accurate – aggregated average system
Why PandaTS Doesn’t Suck?
PandaTS doesn’t suck because it is highly advanced technology, and it’s coming from the forex world. The platform is tailored to forex traders with its asset list, options and expiry times. The platform comes with all the standard types of binary trading including range, touch and speed trading. In addition to great trading the platform also has a free demo account and one of the best tracking screens for open positions I have seen; it allows you to keep close tabs on your trading. Why it really doesn’t suck though is in its interface. The PandaTS platform is meant to and can be incorporated into existing forex brokers so they can offer binary trading.
Why PandaTX Might Suck?
PandaTX trading platform might suck because it is geared for day trading only at this time. The platform designers have focused on the short term expiry and forex in order to capitalize on the growing number of traders moving from spot forex to binary. The short term expiry’s like 30 seconds, 60 seconds and even 2 minutes and 5 minutes are the most risky types of binary to trade and the ones most closely associated with gambling and fraud. Further, there is not much of real use to an active trader besides the options themselves. There are no additional tools or charting features above what you can find with most other platforms.
The platform technology is advanced and on the cutting edge of the binary trading industry. The ability to interface with MT4 is a bonus not only to forex brokers but also to binary traders who use MT4. The interface is similar and yet different to other brokers. The options are easy to understand and also easy to trade. Order execution is quick and in my experience there was very little lag time. Once trades are open they can be tracked in a special pop up screen. Everything is web based so there are no downloads required to trade. The platform also comes with a demo trading feature that to my knowledge has no limits, mine has been open for over a year.
My Experience With PandaTS Binary Options Platform’s
My experience was a good one, but I must say that I am not pleased with the available expiry’s at this time. Putting that aside the platform is easy to use and well laid out although it can be a bit busy at times. It only takes a few minutes to familiarize yourself with the trade room as assets are categorized by type such as index, forex etc. The platform is mostly intended for forex traders as is evidenced by the asset list but there are still other assets to trade. When trading my orders were very fast, I did not experience any delays or any other problems. When comparing listed option prices to the actual market prices I discovered they were very close, within a pip or two for forex pairs. I was able to move from asset to asset with ease, and from option to option with ease. Overall the platform is good but there are still some things to consider before joining one of the brokers using it. Expiry and asset list are the two major ones. Short term intra day forex traders will love this platform but longer term market speculators will need to go elsewhere, at least for now.
- can be found on some forex platforms
- great for forex traders
- not limited to forex binary options
- Cutting edge technology
- only has short term expiry
- no early out/rollover/double up features
- limited asset list, lots of forex but very little stocks, indices and commodities