A little over a month after the official unveiling, Finance Magnates is looking at the product
The evolution of binary options into Exchange trading is gathering speed. With regulatory pressure piling up, companies need to find adequate ways to address the challenges for the industry.
Tradologic is one of the first technology providers to move trading onto an exchange model with its product BinarEx. The step is big and bold, however the transition to a whole new product will hinge on end-users understanding it. In order to make the transition smooth for existing clients, brokers who are offering the product will need to commit enough resources for education.
Exchange traded binary options on BinarEx are somewhat different to the typical simplistic 'call' and 'put' product that we are used to seeing. Tradologic’s exchange is delivering to traders an experience that is way more advanced from a trader’s perspective.
BinarEx is a real exchange with a Clearing House that matches the trade to a counter-party.
Starting with the charting of the product, the binary options technology provider has chosen to team up with one of the market leading solutions, TradingView. The integration of powerful analysis tools is the first step towards making binary options a product that is supported by regulators.
With the US CFTC forcing binary options onto an exchange, clients of Nadex and Cantor Exchange across the Atlantic are already familiar with the experience. European regulators should endorse the same direction and support the shift of the binary options industry into this new direction.
Trading Interface
The first screen of the BinarEx platform a trader sees is widely familiar - a list of assets for trading a chart and open orders and positions. Tradologic has done a great job with the integration of TradingView’s top notch charting solution.
Looking at the assets list, traders of binary options have a good variety to choose from with more incoming assets to be launched soon.
Once a trader selects an asset, an option chain is presented with different strike price levels. This solution is close to the Japanese 'ladder' binary options. When a price level and the direction of the trade are selected, an order screen pops up, where the market price for the option is displayed and the maximum profit and the maximum loss for the trade are presented.
This part of the trade introduces a new layer for the trader, one that regulators have been actively advocating: on every position, the client can see the maximum profit and the maximum loss.
Aside from a market order, a trader can also enter a limit order, which by default is with a Good Till Cancelled (GTC) status. The calculations are fairly simple - if the price of the option linked to the level is 40, the trader can lose as much as 40 currency units if the level is not met by the time of the expiration of the option. After subtracting the price from 100, the trader will get the maximum profit on a trade - a simple risk-reward ratio calculation.
Traders can choose the time of the expiration which is every 15 minutes (unlike in Japan, where the minimum interval is at least every 2 hours). Once the option expires, the trade is closed and the P/L from the deal is reflected on the balance.
Fees, Commissions and Conclusion
On BinarEx, end-clients will pay commissions to the broker on every deal that they make. Opening a position will cost 3% of the deal’s value, and if the trade is profitable the client will pay another 3%.
Tradologic’s solution is a powerful one and it can be very successful if the traders are given enough information how to trade. The educational efforts which the brokers make will be key to the success of the product.
Tradologic is planning to launch a mobile app to compliment BinarEx. Brokers can already sign up with the technology provider to test and assess the product for themselves.
The evolution of binary options into Exchange trading is gathering speed. With regulatory pressure piling up, companies need to find adequate ways to address the challenges for the industry.
Tradologic is one of the first technology providers to move trading onto an exchange model with its product BinarEx. The step is big and bold, however the transition to a whole new product will hinge on end-users understanding it. In order to make the transition smooth for existing clients, brokers who are offering the product will need to commit enough resources for education.
Exchange traded binary options on BinarEx are somewhat different to the typical simplistic 'call' and 'put' product that we are used to seeing. Tradologic’s exchange is delivering to traders an experience that is way more advanced from a trader’s perspective.
BinarEx is a real exchange with a Clearing House that matches the trade to a counter-party.
Starting with the charting of the product, the binary options technology provider has chosen to team up with one of the market leading solutions, TradingView. The integration of powerful analysis tools is the first step towards making binary options a product that is supported by regulators.
With the US CFTC forcing binary options onto an exchange, clients of Nadex and Cantor Exchange across the Atlantic are already familiar with the experience. European regulators should endorse the same direction and support the shift of the binary options industry into this new direction.
Trading Interface
The first screen of the BinarEx platform a trader sees is widely familiar - a list of assets for trading a chart and open orders and positions. Tradologic has done a great job with the integration of TradingView’s top notch charting solution.
Looking at the assets list, traders of binary options have a good variety to choose from with more incoming assets to be launched soon.
Once a trader selects an asset, an option chain is presented with different strike price levels. This solution is close to the Japanese 'ladder' binary options. When a price level and the direction of the trade are selected, an order screen pops up, where the market price for the option is displayed and the maximum profit and the maximum loss for the trade are presented.
This part of the trade introduces a new layer for the trader, one that regulators have been actively advocating: on every position, the client can see the maximum profit and the maximum loss.
Aside from a market order, a trader can also enter a limit order, which by default is with a Good Till Cancelled (GTC) status. The calculations are fairly simple - if the price of the option linked to the level is 40, the trader can lose as much as 40 currency units if the level is not met by the time of the expiration of the option. After subtracting the price from 100, the trader will get the maximum profit on a trade - a simple risk-reward ratio calculation.
Traders can choose the time of the expiration which is every 15 minutes (unlike in Japan, where the minimum interval is at least every 2 hours). Once the option expires, the trade is closed and the P/L from the deal is reflected on the balance.
Fees, Commissions and Conclusion
On BinarEx, end-clients will pay commissions to the broker on every deal that they make. Opening a position will cost 3% of the deal’s value, and if the trade is profitable the client will pay another 3%.
Tradologic’s solution is a powerful one and it can be very successful if the traders are given enough information how to trade. The educational efforts which the brokers make will be key to the success of the product.
Tradologic is planning to launch a mobile app to compliment BinarEx. Brokers can already sign up with the technology provider to test and assess the product for themselves.
SVG Brokers Seek New Home in Other Jurisdictions after Regulator's Deadline
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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