Anyone with the slightest familiarity with the derivatives and the options trading is aware of the complications in the different pricing models which are used by the brokers to calculate the payoffs for the investors. On top of that, the speed required due to the liquidity provided by the exchanges as opposed to the OTCs makes things a lot more crucial. Binary Options are no different which is why the brokers use the review systems to make the transactions.
In simple terms, the binary options review systems are the operating systems that the brokers use as trading platforms. They are like the computer operation system, or the computer languages which are used to create the websites or the operating systems that the smart phones use. They essentially are just the user interface with the sole purpose of providing a platform for the communication and the trading of the binary options.
Main Binary Options Trading Systems
Different binary options brokers use the trading systems of their own choosing. At present, there are three famous software providers with their platforms prevalent in the market. They include:
Among these, the SpotOption is the largest platform providers with a total of 164 brokers using their platforms. It is followed by Tradologic which has 75 clients in its portfolio while the TechFinancials has a small share of 27 brokers. There are smaller providers like TradeSmart which has 21 brokers. Keystone is a new entrant which is designed and built by Safecap.
Some brokers tend to develop their own software platforms to differentiate themselves from others. 365 Trading is a recent example of that. But the question is, what makes the trading platforms different from each other? The answer is customization. The brokers go for the software platform which offers user friendly interface and speeds up the process of buying and selling so that the profitability is ensured. Furthermore, some of the platforms offer different currency pairs which also makes them special for the currency exchange related options.
Other features like the mobile application might also be a source of attraction for the brokers especially those who want to stay connected to the market on the go. Some recent trends, discovered by BinaryOptionsNow.com show that the platforms are now incorporating the graphical illustrations like charts which give a clearer picture of the trends. Also, the platform providers keep coming with new technological advances like trading directly from the chart.
Apart from all this, some of the tools include the platforms which are useable for different markets like Forex and Binary options simultaneously which makes their USP. Although the brokers want to distinguish themselves from the crowd based on the software platform they use among other things, the recent advancements in this category gives an impression that over the next few years, these platforms will more or less be standard and almost all of the platform providers will have at least the basic features to offer. However, this is subject to the future of the binary options market which apparently is going to flourish by the looks of it.