Overview of Existing BO Platforms

What makes binary options easy and convenient is the presence of an integrated environment where traders can access relevant information, execute strategies, and win trades. Binary options brokers offer a variety of features that allow traders to have a better trading experience and a more robust portfolio. When binary options brokers do not provide the usability and receptiveness that every binary options platform should have, then traders leave their services for someone better. Therefore, binary options brokers have spent a significant amount of investment perfecting the right binary options platform for their clients.

However, does this mean that some brokers use a different platform other than their own? And, does this mean that binary options brokers and binary options platforms are two different things? Yes, they do, and yes, they are. Binary options platforms, as opposed to binary options brokers, are software (the same things that run your computer, your phone, and this website). They are created by a binary options platform provider, who partner with binary options brokers for deployment. Although the end results for these platforms are the same, binary options brokers usually want their own user interface, and certain features, and trade types.

We present a summary of the different binary options trading platforms so that the trader may be aware of the different technologies behind their favorite broker. Traders may find a feature of a broker’s platform to be very useful and efficient, and they should know to credit these benefits to the platform provider, not the broker (although some brokers have developed their own platforms successfully). Let us take a look at some of arbitrarily listed binary options trading platform providers.

TradoLogic

TradoLogic is a binary options platform that was designed to provide clients with a full set of services. The platform is dedicated to binary options trading, and it allows brokers to focus on marketing and building their customer base. Headquartered in Bulgaria and established in 2008, the binary trading platform was founded by financial, online gaming, and technology professionals.

Arguably, simplicity is the most prominent feature of the TradoLogic platform. The design allows binary options traders to place orders faster and with more confidence. As such, novices and investors favoring day-trading or fundamental news-based strategies can find this feature particularly useful. In addition, they can choose from a wide range of underlying assets based on standard categories of currencies, indices, stocks, and commodities.

Features of the platform:

  • Payout display – allowing users for different display formats
  • Dynamic payout – allowing users to structure their payouts
  • High/Low Risk – Suitable for speculators
  • Variety of Assets – more than 80 different exchanges and 500 financial instruments
  • Multi-currency, multi-language, and multi-time zone support

Brokers that use the platform:

OptionBit, ZoomTrader

TechFinancials

TechFinancials (previously known as OptionFair) launched its platform in 2010, but despite its relative delay compared with earlier platforms, it has taken binary options trading to higher levels with a modern and multifunctional trading system. Charts are amazingly clear and modern-looking, and the user interface is among the top in the industry.

According to their website, TechFinancials wants to simplify binary options. It offers brokers with simplified binary option software solutions that are suitable for the mass market audience. Their simplified trading methods provide an easy approach using a trading environment that serves as an ideal entry to the professional trading world.

Features of the platform:

  • Very efficient platform with a wide range of functions
  • Excellent usability
  • Wide variety of assets
  • Highly reliable performance

Brokers that use the platform:

24Option, OptionFair, and OptionsXO

AnyOption

AnyOption is a very well-known trading platform and broker in the binary options market. The AnyOption platform launched in 2009 and has been growing ever since. Today, it is one of the brokers that have a dominant position in the industry.

AnyOption offers one of the most user-friendly platforms for new and experienced traders. A wide variety of real-time news updates and trading strategies are available in the platform, and it caters to a wide variety of strategies. AnyOption has some of the best expiry times, the most extensive asset list, and the most innovative options types of any broker.

Features of the platform:

  • Excellent platform performance
  • Efficient trading
  • A variety of options and assets to choose from
  • Accurate prices and rates

Brokers that use the platform:

AnyOption

SpotOption

SpotOption claims to bring the best binary options solutions to investors. This may be justified because of its roster of highly reputable binary options brokers. It is easy to use and flexible. However, these seemingly restrained traits should not mislead traders to the true power of this platform.

The establishment of the platform in 2008 not only makes it one of the first platforms in the market but also brings its name to those among the top of the binary options industry. The interface of the trading platform consists of an attractive design that pays close attention clarity and user-friendliness, which will enable traders to execute faster strategies within the day. New traders who may not be fully accustomed to the typical elements of a binary options trading platform find this platform very helpful.

Features of the platform:

  • Excellent platform functionality
  • Very user-friendly
  • Accurate price rates
  • A number of trading options, assets, and expiry times

Brokers that use the platform:

TradeRush, Banc de Binary, TraderXP, Binary Banc, and 60 Options

ParagonEx

ParagonEx is a trading platform that is highly sophisticated and is specifically designed for the Forex market. Because of this, the trading platform has been less often discussed in the binary options industry. However, it has been intuitively developed to provide all the applications required to monitor and deal with the trading cycle. ParagonEx is equipped with all the latest software modules that provide maximum user satisfaction with advanced options. And because of this, despite its high sophistication, many traders regard ParagonEx as the simplest and most clearly designed platform.

Features of the platform:

  • Highly accurate prices and rates
  • Extensive asset list
  • Buy Me Out and Rollover
  • Clear and easy-to-understand interface

Brokers that use the platform:

uBinary

EZTrader

EZTrader is another binary options platform that is also a broker. In 2008, it started the development of its binary options platform, making it one of the first domains for trading platforms. Overall, its minimalistic interface and its ease of use are its strong points.

However, to some advanced traders, the EZTrader is not as easy as some other platforms, which might explain why EZTrader is not as well-known. The platform was built by having an intuitive approach that allows regular traders to be able to trade without thinking about complicated buttons and settings.

Features of the platform:

  • Very user-friendly interface (which could also be a disadvantage)
  • Uses LightStreamer for real-time prices
  • EZMobile iPhone and Android app
  • Great 24/7 customer support

Brokers that use the platform:

EZTrader, Global Option

MarketsPulse

Markets Pulse platform is also robust system that can be controlled by the binary options broker. Compared with many front-end-only brokers, MarketsPulse has a backend that allows brokers to add assets or enter expirations in a timely fashion. The platform also stands out for its larger-than-average charts. It also offers the possibility to trade directly from the charts. However, many advanced traders state that this is far from being an instrument to perform any kind of technical analysis. It is a stable platform overall, but opening a trade can take longer than the others.

According to their website, “MarketsPulse specializes in B2B; meaning 100% of the focus is on technology, rather than competing with our clients by operating a retail trading sites of our own. Furthermore, the options platform was developed entirely in-house, so our platform stability and customer support levels are parallel.”

Features of the platform:

  • High/Low
  • Range High/Low
  • One Touch
  • Highly accurate prices and rates

Brokers that use the platform:

PowerOption, BinaryTilt

TradeSmarter

The first regulated binary options platform in Australia was launched in 2011 and has since provided quality services to binary options brokers. TradeSmarter offers exclusive binary options trading platforms mostly for Australian clients but also for global investors as well.

A downside of this platform is its simplicity. Often, advanced technical traders are disappointed because of the lack of charting tools that are available on the platform. In other words, the platform is basically workable but limited.

Features of the platform:

  • Straightforward design
  • Custom dashboard – allows users to pin their favorite assets to the homepage
  • Sentiment indicator – lets you view all current Call/Put ratios
  • Multiple asset views

Brokers that use the platform:

24Bulls

O-Systems

O-Systems is another global platform provider that also provides CRM, back office, risk management, and other systems. In terms of binary options trading, if there is anything that O-Systems brought to the table, it is the true innovation of the Limit Order. This feature allows the trader to specify a certain level in which a price touching this level results in the auto-open of the trade.

A “social trading wall” also lets traders see a Facebook-type ticker of newly opened trades being published. This social trading feature can also be disabled by those who prefer to keep to themselves. O-Systems revolutionizes trading at this level. Unfortunately, a drawback of this system is its lack of functionality.

Features of the platform:

  • 100% web-based
  • Limit Orders and Roll-overs
  • Social Trading
  • Mobile Platform

Brokers that use the platform:

123Binary, MarketsKing, BinaryO

Read more articles on Brokers, Education.

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