Online scoring platform Bugscore Ltd. recently announced that they are starting a concentrated effort to provide ratings for binary options brokers. With the industry gaining in popularity, but still seen by some as lacking in transparency, the company is attempting to provide an independent certification source.
“The industry is very lucrative and is taking share from more traditional forms of investing such as: equities, fixed income, commodities, and currencies. However, transparency remains a problem,” said COO Zissis Skouloudis. Bugscore Ltd. will soon be offering similar services for signal providers and automatic trading systems, as part of the platform’s efforts to increase their B2B relationships with clients that can benefit from larger scale feedback.
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Bugscore operates as a global market research platform, and provides opinions for individuals, products and businesses. Brokers or signal providers can submit their profile to collect and review opinions for their internal purposes.
Binary options brokers can be scored on 14 different criteria such as withdrawal speed, customer support and bonus policy. If the overall score is above 80/100 the broker receives a Bugscore Transparency Certificate which can be used for marketing materials and user facing fronts.
The campaign has just taken off, and five listed binary options brokers have already been reviewed, such as key players OptionTrade and Banc du Binary, with 10 and 50 opinions respectively.