Australian Direct FX has become the newest FX broker to begin offering binary options, providing it to clients directly on the MetaTrader 4 platform. The offering uses the FX Lite technology from TradeToolsFX, which created what it calls a ‘MetaQuotes’ compliant, non-plugin version of binary options to a MT4 connection. The product was made in response to complaints from MetaQuotes of brokers using unlicensed, illegal versions of server side plugins to provide binary options on the MetaTrader 4 platform. Early providers of server side plugins, included SpotOption and Marketspulse. For brokers, the ability to offer binary options’ trading directly on the MT4 platform allows customers to access options, forex and CFDs with one account and one system.
Commenting on the launch, Greg Sweet, Managing Director of Direct FX, stated in the broker’s public release, “The growth of binary options in the retail forex space has been intensifying over the past few months, and Direct FX is a leader in bringing revolutionary products to market. We tested every binary options technology out there and found TradeToolsFX to be by far the best option for everyone. Our customers will like the fact they are trading on true interbank pricing and have the ability to use their expert advisors for automated trading. We think that there could not be a better fit for our business and for our clients.” Tim Brankin, Managing Director of TradeTools FX added, “We are very excited about Direct FX’s decision to partner with TTFX in order to introduce binary options to their clients.”
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For TradeToolsFX, the partnership with Direct FX adds to the technology providers’ list of clients of its MT4 bridge, and binary options products which according to the company, includes AxiTrader, Shift Forex, Tarsier FX, Capital One FX, and Core Liquidity Markets.