There are several reputable and highly advanced trading platforms that most binary brokers’ interfaces are based on. These platforms are web based solutions which makes them very easy to use because you don’t need to download a third party’s software. Therefore, you can use any operating system and are not limited to Windows. A few platforms are designed for mobile trading as well.
You can trade at least three types of binary options with each trading platform: “High/Low” options, “Touch” options and “Boundary” options. All options are based on a wide range of underlying assets and your possibilities, so to speak, are almost infinite. This makes it very easy to use binary options for many different kinds of trading strategies.
The SpotOption trading platform is used by many well known brokers like “Bank de Binary” or “TradeRush”. The platform is very innovative and the development team improves the software on a regular basis.
The Reuters powered trading platform was launched in 2008. The functions are clearly arranged and you can easily choose between stocks, currencies, indices and commodities. There is a very special and unique feature for advanced traders called “option builder”. Using the “option builder”, you can customize your own binary options for your needs. You can set your own expiration date/time and your own risk/reward ratio.
Besides the standard option “High/Low”, you can trade a more sophisticated product called “One Touch”. “One Touch” options are more complicated to trade because you have to predict the direction of the price and the price has to cross a predetermined level. However, the higher risk is rewarded with a very high reward.
Many scalpers love binary option brokers using the SpotOption platfrom. The reason is simple: SpotOption traders can profit from a product called “60 second options”. These are options with a very short expiry time (60 seconds). There is just a minute between buying and selling – a minute between profit or loss. Warning: This is just for traders with nerves of steel.
Binary Options are perfect for mobile trading and so is the SpotOption platform. You can easily trade on your smart phone and handle your open positions. Another unique feature, especially for professional traders, is the ProTrader view. You can use it to make a more complex analysis of the market.
OptionFair is also a broker. The OptionFair platform is very popular and other brokers can use it based on a white label model. Two very popular binary option brokers which are using the OptionFair platform are 24Option and OptionsClick.
The software is a web-based trading arena and is well designed in a puristic way. There are many
handy features and besides the standard “High/Low” option, you can trade “Touch” and “Range” options as well.
OptionXP is just one example of many brokers who are using the TradoLogic platform. The platform offers unique features such as the “Take Profit” function. “Take Profit” means that you can close the trade prior to the actual expiry time. The opposite is the “Rollover” function. Using this option you can extend the expiry time. The TradoLogic platform uses the real-time market data of Reuters.