Because of the nature of the binary options industry, so it is very easy to get confused between the myriad platforms and brokers. This article will support you to recognize the difference between a binary options platform and broker and also some top names in both categories. With anyone coming from the world of forex, this set up is a little bit different than what you are familiar with, thus you should pay attention, too. In forex, most traders use a platform, for instance, MT4, connecting you to a broker where you place deposit your money. It is clear that you trade on the MT4 platform, but as you see that the financial transactions are in your brokerage account. Binary is various in that it has no downloads as the MT4 platform because the platforms are web based and supplied by the brokers. Therefore, it means that there could potentially be as many platforms as there are brokers.
A binary options platform is the software and graphical interface (trading room) allowing you to have a trade. The broker is the business, financial services company providing you with the platform and agreeing your deposits. There are two basic categories of platform making this discussion a little more interesting. They are included the white label platform and the proprietary platform. Some brokers have a choice to set up and run their own platforms. Well, these are what I call proprietary because you will just see that these platforms being used by the one broker, this can explain why some brokers look and trade in a different way from the others. With white label platforms, they are set up to be sold to businesses that can able to re-brand them as a new binary options broker. It is an easier way for a potential broker to begin because the soft ware end of the project is taken care of. Thus, this is the reason why some brokers look exactly the same to some other brokers.
SpotOption Binary Options Platform
SpotOption is known as one of the first, and up to now the largest, white label binary options platform providers. This provider really has two different platforms available including the original SpotOption platform and the Spot2 platform. The two platforms are fundamentally similar in terms of trading, however, the Spot2 platform is recognized more advance. Some of the top names appyling this platform comprising EmpireOption, Banc de Binary and TitanTrade. There are literally hundreds of brokers applying one of the SpotOption platforms. Mostly, all are tied into the same banking and cashier network except EmpireOptions which works as a standalone company. You can see SpotOption powered brokers that are and are not CySEC regulated, do or do not permit U.S. Traders and located anywhere binary options brokerages can be set up. SpotOption itself is CySEC registered, however, that does not mean the personal brokerages are.
In terms of the platform and trader-friendliness, I think that it is one of the top three. The platform supports digital high/low binary trading, touch, range and 60 second trading. One of the largest of any platform is the asset list and also comes with the most availability. Some of the smaller and proprietary platforms might list as many; however, you will not find them available for trading. The feature about SpotOption brokers that I like most and think it is the most appealing for serious market speculators that is the expiry. Most platforms provide specifically to the forex day trader and just have intra-day expiry. Still, SpotOption brokers have from the 60 second and 2 minute speed trading to a quite variety of intra-day, end of day, end of tomorrow, end of week, end of the month and on out for up to 6 months on some assets. It can be said that they have everything you need.
AnyOption Binary Option Platform
Anyoption may be the first broker/platform to hit the market and up to now it is seen as the leading innovator. It is a proprietary platform and broker with the assets, expiry and bonus features setting it apart from every other platform or broker on the market nowadays. This platform is a CySEC regulated broker, it is located in Cyprus, and unluckily, at this time, it does not accept U.S. Traders. In terms of trading it is very likable to SpotOption. It has a very full asset list, high availability and expiry. Expiry comprise from short term speed trading to intra-day, end of day, end of week and end of month. Expiry is not fairly as good as SpotOption; still, it has other features that may trump expiry.
AnyOption was the first to cover what others have now labeled Option Builder. This feature permits traders to tailor the risk/reward profiles of their trades in order to maximize gains and also minimize losses. Other innovations, for example, Binary 100 and Option+, two features make 60 second, 2 minute and 5 minute options obsolete. With Binary 100, they are options with fixed strike prices paying either $0 or $100 at expiry. Unlike standard binary, these options can be bought or sold, and opened or closed at will permitting you to cut losses or lock in prices when you need. The Option+ feature is known as a standard binary trading, however, with the added bonus of being able to sell the options at will. The additional features that you cannot find on other platforms are fixed price Bitcoin options and binary options on upcoming IPO’s.
Other Platforms Are Good Too…
There are also a great number of other good platforms out there. One is Tech Financials; it is a white label platform. This platform influences brokers such as 24Option. Tech Financials platform is outstanding in terms of assets, option types and availability, however, is being behind SpotOption and AnyOption in terms of expiry. In addition, StockPair is another proprietary platform provider that I like. It first came on the scene with pairs trading, the same forex but matching pairs of stocks, indices, or commodities. Also, they have since moved into binary and have expiry to match or perhaps even exceed what is offered by SpotOption. Forex broker Avatrade has also come into the arena with a new platform and broker named PowerOption. This does not mean for the end all, be all, list of binary options platforms, but it is really a good introduction for what you will find when you begin searching for a broker.