Tools for Brokers updates its binary options platform


The binary options industry has been expanding  over the past several years. The simplicity of the instrument made it very popular among  traders. This caused the emergence of numerous binary brokers. The unregulated environment allowed  startup binary brokers to operate on the market without any barriers.  As a result, unregulated binary brokers and their fraudulent actions have negatively affected the image of  the industry.

Now binary options is a very hot topic. The industry representatives including regulators and tech providers are trying to unite their efforts in rehabilitating  binary options in the eyes of the trading society.

Regulatory compliance of the Platform

As a technical provider, we also made steps towards transparency of the service and introduced the updated version of our Binary Options Platform. We suppose that stricter regulation of binary options is a natural way of its development and is absolutely necessary for preventing unfair practices.

The first step was certification of T4B Binary Platform by Financial Commission . The platform was examined according to the check- list elaborated by Commission.  Among the characteristics examined by FinCom were platform security and performance, securities and order types,  execution policy, reporting  and  emergency recovery plan.

Secondly, in order  to comply with CySEC requirements – the most popular EU regulator for BO industry – we redesigned our platform  in a way that helps brokers to provide transparent  Binary Options trading.  For example, it  provides  full information on the underlying asset of binary option ( bid and ask prices, strike price)  and displays the flow of the bid/ask prices.  The  requirement of CySEC  to provide clients the ability  to cancel transaction was also implemented in the updated version.

Configuration of cancel duration for different types of binary options.
Configuration of cancel duration for different types of binary options.

 

Specifics of T4B platform

Taking into account the aforementioned points, our platform is not only absolutely  transparent for brokers and their clients but is also incredibly easy and intuitive to use.  Binary Panel as an extension to MetaTrader Platform allows clients to trade Forex and Binary from the same Client Terminal. Full synchronization with MetaTrader  infrastructure  allows  to:

  • deposit and withdraw money via MT4 accounts
  • receive quotes from MT4 feeder
  • trade from the MT4 Terminal with the same account

Moreover,  it can be also used as a stand-alone  web-platform. This allows brokers to meet the needs of a modern Mobile Trader and provide maximum usability, stimulating trade from any device.

Interface of the T4B Binary Options Platform.
Interface of the T4B Binary Options Platform.

Conclusion :

We consider Binary Options as a very attractive instrument to diversify brokerage business and provide clients an alternative to Forex  trading.  It can serve as a product that attracts an initial flow of clients with its simplicity  and accessibility and then converts them to more sophisticated Forex trading.

The tendency to regulate this industry is a proper way to amend  the incorrect perception of Binary Options. So brokers who opt to lead licensed business and to provide better customer experience should choose certified technology.

Click here for more about the platform.

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Tools for Brokers updates its binary options platform

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