Australian Forex broker GO Markets has beefed up its product offering on MetaTrader 4 and its clients can now trade binary options on the ubiquitous platform, echoing the current advancement toward incorporating the binary options and FX asset classes on one platform rather than using a shared wallet to provide two platforms via a common CRM.
The broker is currently focusing on the widely known and simple digital options, which are binary options in which traders forecast the direction in which the price of a given asset will move (“up” or “down”) and get to profit/lose depending on whether their forecast is right/wrong. The lineup of expiration times for GO Markets’ Binaries is pretty diverse, ranging from 1 minute to 60 minutes, with the service rather affordable too, as the minimum stake is at $5.
Being located in Australia, GO Markets is well positioned to provide binary options to clients in the nearby Asian continent, in which there is a notable proportion of traders with a strong appetite for binary options and the quick-fire trading experience that it offers.
GO Markets was the subject of merger and acquisition activity two years ago, drawing attention to the potential value of Australian FX brokers, in its acquisition by Japanese investment bank AIP, subsequently being sold to PYX Financial just a year later.
At that particular time, LeapRate’s research concurred that the entirety of Australian FX firms had a total monthly combined trading volume of less than $50 billion, however in the relatively short time that has ensued, deliverable FX firm OzForex prepared its IPO last year at an astonishing $439 million, whilst compatriot retail FX trading firm Pepperstone engaged with US investment bank Berkshire Capital in order to prepare its IPO.
With GO Markets’ latest addition to its service, no separate account is necessary for binary options. Existing traders may subscribe for the new service via their live MetaTrader 4 account.
The simplicity of binary options trading for GO Markets’ retail client base may lead to higher volumes, especially bearing in mind the target market. It is therefore no surprise that so many FX trading firms have also sought to launch such services, with one of the latest to join the group being Cyprus-based RoboForex.
By integrating binary options into an FX trading platform, the debate as to whether binary options can be classified as a financial product or a gaming product gains further ground. Platform provider TRADOLOGIC recently launched two land-based terminals aimed purely at the gaming market, whereas retail FX firms are taking binary options further toward being a tradable financial asset class.
GO Markets is now following in the footsteps of its former sister firm Vantage FX, which has long since boasted the offering of binary options and Forex trading on a single platform (MetaTrader4).
Whilst Vantage FX has moved on with a recently announced partnership with MXT Global, GO Markets is focusing on its independence. At the time of purchase by its new owner PYX Financial Group Limited, a corporate decision was made in November 2013 to propel the retail operations of the Australian business, a claim that the firm is fulfilling.