There are different types of binary options trading platforms that a novice trader can access and use to place trades. Read on to learn about two basic types of trading platforms, the features available in each of these and how a trader can put them to use.
Online Binary Options Trading Platforms
For a novice trader, placing a trade is a daunting job. Traders commonly place daily trades via a desktop computer, a laptop or even a mobile device or a tablet. Given below are a few prominent features of professional online binary options trading platforms:
It is helpful to the trader to note that most online trading platforms are made compatible to work on different operating systems Mac or Windows. The most professional trading platforms are user-friendly and easily navigable.
Most trading platforms allow the traders to open an online demo account and possess a complete guide to open, set up and operate the demo account. For novice traders this is of great help as this will enable them to get the necessary practice without any risk before placing actual trades.
An online binary options trading site will allow a trader to have only a single real money trading site. However, the trader is at liberty to open accounts in different trading sites. Many of the novice traders actually do this to earn sign-up bonuses that are promised by the sites. This helps to increase their initial trading budget.
Concerning security of the binary options trading platforms, most of them operate with security protocols that are similar to the ones which banking sites use. They conform to very high standards of safety and security.
A professional online trading platform has a 24/7 customer support team which would help the trader in case of a problem or an issue that may arise. Many of them also have online guides that would answer any questions that the trader may have.
Binary Options Trading Platforms on Mobile Devices
People are on the move and it is not surprising that most traders would want to place trades on mobile devices that they carry along. Online trading platform providers are making their sites compatible so that they can work on mobile devices with the result that traders can trade binary options via their mobiles.
Given below are some features of the trading platforms on mobile devices.
They are identical to the trading platforms that can be accessed on the laptops/computers. The trades that can be placed on a computer can be placed on a mobile device too. The bonuses for new users that sign up via the mobile do not differ either. The other rules remain the same as well. The user can use the same login and password to log into their personal accounts for trading as used in the laptop.
In case the battery loses charge when you are logged into your account and have placed a trade, the trades that have been placed till that point in time are alive. If you were halfway placing a trade when the battery went flat, then, that trade will not be placed. The trading platform usually makes available all the trading history up till any point in time so that the trader can cross check. Keep the usernames and passwords safe and secure in such a manner that problems do not occur even if your device gets stolen.
Popular Online Binary Options Trading Platform Providers
Given below are some of the prominent features of the popular online binary options trading platforms:
They are the largest binary options trading platform providers. Close to 164 brokers are estimated to be using their platform. The main features are as follows:
- They also allow forex trading in addition to Binary options trading.
- They are licensed and collaborate with the SpotOption Exchange for their operations.
- They allow binary options trading for a wide range of underlying assets: about 180 in number.
- Their trading platform is mobile compatible.
- The top brokers that use this trading platform include Banc de Binary, Bloombex, 10Trade, GOptions, CherryTrade, etc., among others.
Their binary options trading platform is the second largest one of its kind. Up to 75 brokers use this platform for trading. Their platform offers the following features:
- They provide the ChartPlus feature to enable trading directly from the charts.
- The platform also includes the TradePro+, the professional chart feature which comes with technical tools.
- Trade signals are provided to the users; these signals are customizable in that their algorithm can be changed.
- Traders are given the liberty to specify the profit amount that they want.
- The platform provides the opportunity to trade binary options on margin.
- Popular brokers that use the Tradeologic platform are: ZoomTrader, OptionStars and OptionBit.
This is one of the smallest online binary options trading platforms. It is estimated that there are only 21 brokers that use this trading platform. Its main features are:
- They offer a customized dashboard for the individual user that helps him/her to pin their favorite assets.
- The site offers multiple expiration time options: 60-sec, 15-min, 30-min, 1-h, etc.
- The trader can choose to see customized views of the assets and graphs at the same time.
- With regard to payouts, the site has advanced options such as customized and high-yield payouts and rebate percentages
- The site features a sentiment indicator which displays all the current Call/Put ratios.
- BinaryBrokerZ is one of the binary options brokers that use this online trading platform.
Many binary options brokers work on unique trading platforms which they have built for themselves. 365Trading is one example. Such platforms help to differentiate these brokers from the many others. Some of the other brokers that use their own trading platforms are AnyOption, Opteck, EZ Trader and Grand Option. One of the newest trading platforms that has come into the market is Keystone. This site has been designed and built by Safecap, which owns TopOption and Markets.com (binary options and forex brokers respectively).