TradeSmarter is now B2B only!
TradeSmarter was one of the first Binary Brokers in the business, making use of their proprietary platform to provide customers with a simple yet efficient trading environment. Well, all that is about to change because they have made an important decision: all their B2C (business to consumer) services are going to be transferred to a broker we recently reviewed and find very promising: 24Bulls. TradeSmarter itself has now become B2B only (business to business), meaning they are now just a white label provider, offering their platform to other brokers, with customization features and tailor made solutions.
TradeSmarter – Who are they?
Ok, that’s the news, but some of you might not be so familiar with TradeSmarter in the first place: they are a leading Australian Broker widely known for the ease of use of their platform. No extra features, no multiple choices – just an extremely user friendly platform, very appealing to new traders. Of course, a broker cannot satisfy everyone and some traders consider the platform lacks some features that are considered standard even for low-ranking brokers. But the fact that they are one of the first brokers to undergo a regulation procedure made them very appealing to clients, especially because a regulated Binary Broker is extremely hard to find these days. You can read the TradeSmarter Platform review and also check the old Broker review on All-Brokers Menu.
Recently TradeSmarter announced a very exciting new feature which already made its way into Forex trading for quite a while now: Social Trading. Many of you might know what it means, but I’m going to explain it a bit just to make sure everybody knows what I’m talking about: Social Trading generally means that users can copy each other’s trades by seeing what others are doing. So, if Mr. Guru decides to buy a Call on Apple for a four hour expiry, Mr. Newbie can see that trade and can decide to do the same. This way, the rookie trader can benefit from the experience of Mr. Guru, free of charge. TradeSmarter’s social trading feature will be named Social Binary Chart and once it is launched, traders will be able to see on their charts small icons with the names of other traders and also the time and direction of their trades. In other words it’s an easy visual solution for a beginner to get a sense of market direction.
B2B only – What Changes for the Traders?
In a nutshell, going Business to Business means that clients will not be able to open new accounts with TradeSmarter and all the retail customers will be served by 24Bulls. In a way the two companies will merge and 24Bulls will serve retail customers while TradeSmarter will offer their platform to other brokers. So in the future we will probably see a lot more brokers making use of the TradeSmarter platform, but customized of course with their own branding. In other words, TradeSmarter offers a naked platform (white label) and the brokers who purchase it will use their own “clothes” to personalize it.
At the moment TradeSmarter’s Social Binary Chart is not launched yet but once it is, probably all brokers using their platform will offer this new and cool feature. In the mean time, let’s see if this Social Trading seems familiar… hmmm… ever heard of CommuniTraders? Free, social, you can follow other traders, you can comment on other’s trades, you get rankings of the best traders and you can measure your skills against the top guys, you can improve your craft and learn from what others are doing. I might be subjective here, but if you ask me, that’s way better than icons on charts… and it’s available right now. Wanna check it out and don’t know where to find CommuniTraders? CommuniTraders Social Trading Platform is Here!
24Bulls – Who are they?
I’m going to keep it simple here: 24Bulls is a broker who tries to stand out from the crowd. They are not top-tier material just yet, but are definitely trying to get there. There are certain areas that need improvement, but they are working hard at resolving those issues. They have some very interesting features like the Risk-o-Meter. To be honest I didn’t see that before on any other broker; this little tool allows you to choose your own payout and refund, a fact which makes it a great money management tool and shows that 24Bulls are trying to improve and come up with new, exciting stuff. If you want to know more about 24Bulls, you can read the full 24Bulls review here.