The new feature is called Trade On! and it is allowing traders to place trades 24/7
One of the leading binary options platform providers SpotOption has launched a new feature that allows clients of binary options brokerages to place trades over the weekend. Normally activity is quite subdued during holidays, so the solution that the company has come up with is to allow traders to anticipate how next week will start. The feature is called Trade On! and it is beginning to operate from next weekend on.
According to the company binary options businesses are losing close to 30% of their activity because of weekends and holidays. Normally the market has to be open in order for the trader to place a bet, however SpotOption’s Risk Management team has studied market moves and determined that traders do not have to necessarily wait for the markets to open.
There are no details yet as to the expiry times of the options – they might be daily, weekly or even hourly. We will be keenly awaiting more details once the feature launches. Meanwhile the company’s founder Pini Peter said that SpotOption saw no reason to limit the possibilities for trading just because the markets are closed.
We are very curious to see how the company will manage to limit its risks if we have some turmoil news over any of the coming weekends. It was a bit more than a year ago in March 2013, when news about Cypriot banks suffering from severe liquidity shortages and the subsequent deposits haircuts hit the wires over the weekend, causing the Euro to open more than 2 cents lower on the following Monday.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.