Binary options are continuing to be adopted by more and more established online FX and CFD brokers around the world. Finance Magnates has learned that the Sydney headquartered broker Direct FX is the latest international financial player to join the party with a binary options launch scheduled for later this week.
Founded in 2006, Direct FX Trading Pty Ltd is a financial services company regulated and licensed by the Australian Securities and Investment Commission (ASIC), with many global subsidiaries and offices that conduct the brokerage’s business worldwide.
The new binary options offering is based on the recently launched MetaTrader4 technology from TradeToolsFX. With this solution, a simple installation of a custom Expert Advisor (EA) adds binary options abilities to the MT4 platform. The product does not affect the functionality of MT4 so clients can still trade forex and CFDs and run their own custom indicators and other EAs.
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Speaking with Finance Magnates about the target regions for the new offering, a company executive explained that Direct FX has a strong focus on the Asian and Latin American markets. From the broker’s experience these markets are also the most engaged in binary options.
Joseph O’Mara, CEO of Direct FX Trading, commented: “We are very excited to launch Binary Options. The launch of this product is another step in Direct FX becoming a multi asset brokerage firm. We currently have trading available on FX, CFDs, Metals, and Binary Options. Additionally, in the near future, we will be looking to add Futures on our popular CQG platform.”
In May 2014, Direct FX joined forces with CQG, a US-based multi-asset provider, to create the CQG FX platform.