It was as early as 2013 when TradeToolsFX announced that it had successfully integrated binary options trading into MetaTrader4. Today the company expanded on its offering launching a new method to trade binaries on the world’s dominant forex trading platform.
TradeToolsFX delivers a specially designed Expert Advisor (EA) named Binary Options Trader (BOT). All a client has to do is install it through a partnership broker of TradeToolsFX in order to gain access to trading binaries. The offering spreads across multiple assets including forex and CFDs.
With the launch, the company delivers an easier integration option to the MT4 binary options market. While in recent years the industry has continued growing there have been some challenges associated with a number of brokerages.
the TradeToolsFX solution is essentially auto-trading within the platform
Up until now, TradeTools FX delivered binary options trading as a standalone client-side program that interacts with MT4 without using DLL/EXE files in the MT4 client terminal. The plugin represented a cost effective binary options solution for MT4 brokers not needing website development, payment processing or a CRM solution.
With the launch of binary options trading though an EA, the process becomes even simpler. The TradeToolsFX solution is essentially auto-trading within the platform. The product does not affect the functionality of MT4 – clients can still trade forex, run their own custom indicators and other EAs.
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The biggest breakthrough for the new technology to provide binary options is that there will be cross device compatibility. The BOT EA will work on PCs, iPhone and Android devices.
In addition, the TraderToolsFX is marketing a True Market Pricing model where binary options pricing is based on the same rate as the underlying instrument in MT4. This makes for a more transparent solution to some alternatives widely available for binary options white labels.
Just yesterday, Trading Central announced another MT4 EA solution for the binary options market. The company has unveiled an expert advisor that is providing binary options trading signals.
While binary options trading has continued to grow in recent months, there have been some worrying trends to point out. Several companies, including many of which are regulated by CySEC, have been particularly uncooperative with their clients as flagged in a study made by French regulator Autorité des Marchés Financiers.
Hopes are about further legitimizing of the product after the U.K. Financial Conduct Authority becomes the designated regulator for binary options. That said, risks are present from the credibility issues mentioned above.
The French regulator has found out that it was extremely difficult to withdraw funds even from regulated binary options brokers.