Binary options technology provider Tradologic is partnering with foreign exchange and CFDs focused tech company Leverate. The synergy between the firms comes at a time when binary options brokers are strongly interested in shifting into providing a full range of financial products.
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Many of the brokers that are clients of Tradologic are looking to start delivering to their clients FX and CFD trading. The key to this transition is for brokerages to diligently adhere to regulatory requirements in the jurisdictions where they are offering their products.
The binary options industry is under massive regulatory scrutiny across all developed markets. Israeli authorities are at present working on a ban on local companies advertising to offshore clients. The Cyprus Securities and Exchange Commission has taken measures to force binary options providers to adhere to higher standards. The French AMF yesterday officially enacted a ban on the advertisement of FX and CFDs.
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Tradologic has welcomed CySEC’s regulatory changes. The company launched a new solution called a binary options exchange late last year. The product is designed to satisfy regulatory concerns about conflicts of interest.
The trading platforms which broker clients of Tradologic will gain access to include Leverate’s social trading solution SIRIXSocial, along with new automation and optimization tools such as Optim8 and Activ8.
Commenting on the partnership, the CEO of Leverate, Kobi Gur, stated: “Increasingly we are seeing a convergence in the market as binary option operators are looking to extend their offerings to other trading instruments. Our state-of-the-art software platforms enable them to do that, but also facilitate a competitive excellence.”
“Our objective is to help our partners increase their commercial growth and revenue. This is primarily achievable by improving our current line of offerings to include more innovative products that are able to service best trading practice,” elaborated Tradologic’s CEO, Michael Golod.