When choosing which broker to open a binary options account with, you should do some research and look at which binary options trading software platform that broker uses, as each options trading software platform has its own positives and negatives. Since brokers are generally not software engineers, most binary options brokers use one of two major option trading software platforms in existence, Tech Financials and SpotOption. Knowing which one of these binary trading software platforms a broker uses, as well as knowing how it works is a vital part of a successful trading strategy.
Tech Financials, which powers the sites of top brokers like 24Option and OptionFair, is one of the most widely used binary option trading software platforms. It combines a simple and easy-to-navigate system with a huge variety of products that can help traders diversify.
In order to place a trade, you simply need to select which type of trade you would like to make. Tech Financials options trading software allows traders to not only trade puts and calls, but also Boundary and One Touch trades, giving traders more freedom. Once you choose which kind of asset you want to trade, you can see a list of all of the possible assets and options which you can trade. Tech Financials was one of the pioneers in 60-second trades, and now offers dozens of different trading periods, even longer-term periods as much as a month away.
SpotOption, which is used by TradeRush and other top-notch brokers is the other main binary options software platform. Some people consider SpotOption to be the best options trading software for beginners, due to its incredibly simple and clean interface. It is designed to make trading as easy as possible, so that traders can concentrate on making the best trades, instead of figuring out how to use the option trading software.
Customization is also one of the best parts of SpotOption, as traders have many different ways to construct options and make trades, and build a system that works for them. The options trading software also includes a graphing function, which provides an accurate graph of an underlying asset, making it easy for novices to take a look at an assets performance and make an educated prediction.
While there are other binary options trading software platforms out there, these two are far and away the most popular and most highly regarded. Any broker that uses either SpotOption or Tech Financials is sure to work well and provide the trader with an easy-to-use, trading-focused experience. Knowing the ins and the outs of the trading options software you use will help you be a better trader, minimize mistakes, and make more money in the long run.