Trader’ Way, the Dominican-registered brokerage, became the latest company to add binary options trading to its product range. On Monday, the Forex and CFD broker announced the launch of its Binary TradersWay platform, a web-based solution powered by SpotOption.
The platform is integrated with Trader’s Way’s MetaTrader 4 offering, which means that traders can log into the browser-based platform using their details for any MetaTrader 4 live account they have with the broker. To start using the MetaTrader 4 account on the binary options platform, traders need to have a rudimentary balance of at least $5.
The variety of binary options is comprehensive, with the underlying assets including some of the most popular currency pairs, commodities, indices and stocks. The expiry times range from extremely short ones – 30 and 60 seconds, to long term ones – several days.
Among the standard operational features of the platform is that binary options are issued around the clock, that is – they are available to trade whenever required. The latter apparently reflects the functionality of the software provided by SpotOption. In February this year, the company introduced a feature called Trade On! that allows trading during weekends and holidays.
SpotOption has been boosting its list of partners within the FX industry, the most recent being RoboForex and its RoboOption platform. At the same time, it has been branching out in the field of Forex and has launched a platform designated for this type of trading. According to SpotOption, these efforts are bearing fruit as earlier this month the company reported a record growth in volumes.
Trader’s Way has made a corporate statement that the launch of the new service reflects its desire to offer a greater variety of products and solutions to its clients. It will be interesting to see what the response by cloents will be, as binary options demand grows among retail traders as strongly as the rivalry among brokers. Online trading companies now seek to offer original solutions in the binary options field in order to attract clients. A recent example comes from Russia’s Alpari which yesterday introduced a new type of binary options – Spread High/Low, proposing a combination of spread betting and binary options trading.