One of the advancements of the binary options industry last year was the arrival of trading on the MetaTrader 4 platform, as a few providers had successfully released products that connected their web based trading solution on the MT4 platform. The result was a single interface to trade both forex and CFD products along with binary options. An early adopter was Australian broker, Vantage FX. The firm has a reported a fast uptake to the product from its clients, as well as announcing that the surge in demand led them to purchase addition MetaTrader 4 servers to handle customer order flow.
Following on the initial success, Vantage FX has reported that binary options volumes quadrupled during the past quarter. The firm also added that traditional forex volumes rose 41% as well. Although the binary options volume growth is from a small base, due to it’s a recent launch, the news is significant. Vantage FX was one of the brokers affected by the MetaQuotes banning of the MT4i platform interface enhancement. When announcing to clients that the plug-in was being removed back in April, they also stated that binary options would no longer be available on the MT4 platform as the said “Binary Options trading also will no longer be accessible from within the MT4 interface. To access Binary Options trading, please use our Binary Options web platform”.
2020 Global Market Outlook: How the “Known Unknowns” Can Affect CurrenciesGo to article >>
Since then, the broker has brought binary options trading back onto the MT4 platform. Explaining how that took place, a company spokesperson stated to Forex Magnates that “the link between MT4 and Binaries always remained – traders just had to use the web interface instead of trading within the MT4 interface,” and added “we have an upgrade file that traders can download on top of our standard MT4 installation, to upgrade their platform to include Binary Options as well as one-click trading and other tools.” As such, the binary options growth occurred even though the broker’s offering was in a period of constant evolvement during the quarter.
In regards to overall volumes numbers. The company spokesperson mentioned a management policy to keep those figures private at the present time. However, they did publish their forex figures and stated that Vantage FX’s parent company, Enfinium recorded $16 billion in total June volumes, with Vantage FX seeing a 41% increase in trading.
In publishing the results, Antony Goddard, Managing Director of Vantage FX, stated “Binary Options are undoubtedly a growth area for financial trading in Australia — the last quarter saw Vantage FX quadruple our volume of binary trades.” He added that the company believes the uptake in binary trading attributed positively to their forex volume gains, as the broker has launched multiple types of trading products over various trading platforms and operating systems.