The leading Binary Options platform provider aims to take binaries’ simplicity to the Forex world.
Binary options platform provider SpotOption has announced the introduction of a new product and market for the company — Forex.
We can’t say we’re surprised, as those who follow LeapRate know that we’ve recently seen leading forex platform providers such as Leverate and X Open Hub go the other way and launch their own binary platforms, so it only make sense for SpotOption to become a one-stop-shop as well.
One of the reason binary options trading has become popular among retail traders is simplicity — e.g. you know how much you could make, or lose, upfront. And is seems as though SpotOption is planning on building that simplicity into its new Forex platform, helping brokers maximize self conversions of new retail clients.
In SpotOption’s forex platform the trader chooses the trading leverage, which directly influences his stop loss and take profit. The trader is given buy and sell prices for chosen assets, and trades like in traditional forex, only without the complicated terminology, hassles, and risk, as SpotOption provides a guaranteed stop loss as well — similar to binaries.
To see the SpotOption press release on its new Forex platform click here.