Earlier in the year Finance Magnates featured the release of Market Madness, a new mobile trading app aimed at simulating a live trading experience. The app was structured like other mobile games of skill, requiring players to pass levels to unlock more difficult trading scenarios. At the time of its launch, Market Madness was available to brokers as both a branded licensed product as well as a sales funnel to partner brokers.
Expanding the product’s features in time for the iFX Expo last week, Market Madness integrated live trading into the app. Partnering with 24Option and IQ Options, Market Madness now allows users to open, fund, and trade real accounts directly within the application, replacing the need to leave the game to external broker sites.
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Like the game, the real trading feature is aimed at educating users. As a result, it allows for micro-trading of binary options positions in the single dollar digits, instead of $50 or $100 minimums.
For Market Madness, the gaming technology provider is relying on existing brokers to power the live trading on the app, allowing them to focus on marketing and support of the game without getting involved with the brokerage aspects of trading. Nonetheless, it will be interesting to see if other gaming operators decide to partner with binary options and forex providers to become brokers themselves.
Currently, within the world of binary options providers, most firm’s platforms limit non-design customizations available to their broker clients. However, with the introduction of Tradesmarter and an API version of their services that is being used by BNRY, we could see other developers enter the world of brokerage services by integrating such APIs into their trading games. As a reference, since launching their brokerage API for US stocks and options, Tradier has gained interest from developers as an option to integrate trading services directly from their apps.