NoaFX, a New Zealand-based forex brokerage firm, has announced it is set to launch binary options as an addition to its trading platforms on Monday, March 2nd, 2015.
The new offering will include three options types: odd/even, up/down and big/small. The time frame for an option will be as quick as within 60 seconds.
NoaFX is an arm of Capital Market Investments Limited, which is fully licensed and regulated as a financial services provider under the New Zealand FSP Act. The firm developed the MT4-based binary options offering in-house.
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“Binary Options (BO) is a growing market which has been drawing a lot of demand amongst the clients recently. We wanted to take advantage of this opportunity and enter the market at the right time,” said A. Rasheed, group director of NoaFX.
NoaFX expects the ease of use will attract forex and new traders to the binary options offering, but the company also announced a 10% bonus to all new binary options account holders to make it more attractive at first. Speaking with Forex Magnates the broker said they hope to reach volumes of five yards within the first four months of launch.
“Trading binaries is simple, fast and doesn’t require deep knowledge about Forex. And to assist our traders we have Abe Cofnas, a renowned Forex Guru and a leader in Binary Options to provide webinars and coaching in binaries,” said the group director.