Binary options software provider TRADOLOGIC has announced today it developed a new tool to strengthen the experience from binary trading. The tool called “Knock-in” is an innovative pre-trading tool which is used to automatically open binary options trade.
The best way for a forex veteran to understand this new tool is to think of it as a sort of time limited Entry Order for binary options. When an order is entered into the trading platform, it will not be executed unless the underlying asset reaches certain price level before the option expiration. This order type is a standard way for traders to control their positions while they are away from their trading stations.
Furthermore, “Knock-in” allows traders to use different strategies, such as to speculate that the trade will enter a certain price at the time they place the pending order.
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A useful example from TRADOLOGIC : At 10:00 the EUR/USD is quoted at 1.0525. A trader can create knock-in order to invest $100 in Digital EUR/USD Call option with expiry at 20:00 if the price reaches 1.0550. If the price of EUR/USD hits 1.0550 before 20:00 the knock-in order will be triggered and the trade will be automatically executed. If EUR/USD price does not reach 1.0550 before 20:00 the knock-in will expire or it will be cancelled.
The provider says that Knock-in allows binary options traders to enjoy high levels of control and risk management. Together with the rest of TRADOLOGIC’s features, such as “Tournament”, “Trado 24/7” and “Auto-Trade”, “Knock-in” boosts customer engagement, facilitates the trading process and makes it more effective. “Knock-in” not only makes trading more efficient, but also maximizes the revenue of TRADOLOGIC’s binary options clients.
According to the firm’s tracking reports, 15% of all trades were opened through the “Knock-in” option within the first week of its launch. TRADOLOGIC’s forecast says it is expecting a sustainable growth to at least 50 % in the next couple of months.
CEO Ilan Tzorya commented: “TRADOLOGIC is at the front of the industry’s innovation, by constantly introducing additional products and by delivering superior services”.