Reviewing some of the events in the binary options industry as of late, we are seeing two trends take place; increase of trading signals and regulators taking a closer look at the industry. In terms of trading signals, as they focus on directional moves, they are a natural product for the duration-based binary option market. Currently, signals are being offered to clients via subscription marketplaces where traders can choose which signals to follow, and connect them to participating brokers. In addition, brokers are partnering with providers to create their own branded signal product.
Algo Alerts Launches New Website
Currently partnered with binary options broker Trading247, Algo Alerts offers hourly trade signals to subscribers via a proprietary widget, SMS, and email. Launched in June of this year, the site partnered with analytics provider Faunus Analytics to distribute trading signals. The site and product have recently been updated with email and SMS alerts distribution being added. Signals are provided on a monthly subscription basis, and according to Algo Alerts are also available to be offered for free through broker partners.
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SetOption Launches Faunus Signals As Well
Also tapping Faunus Analytics for their trading signal needs is SetOption. The binary options broker announced this week that they will be offering signals that are powered by Faunus to their customers. The deal is similar to a partnership between Faunus and iOption that was announced earlier this year. Commenting to Forex Magnates, Pavel Bykov, Chief Development Officer at Faunus Analytics said that they are seeing interest among brokers to offer signals due to, “increased trading volumes by offering signals to clients, client retention, and our partnered binary brokers are creating a grade system, where traders can upgrade their account to receive more and better signals.”
Binary Options Broker Under Regulator Fire
Earlier this month, Cypriot financial regulator, CySec, announced a warning against NRG Binary that it isn’t a licensed firm. Although headquartered in Cyprus, the broker was unregulated in the country. The warning follows a trend among global financial regulators this year, where they have been issuing statements in regards to unregulated brokers doing business in their jurisdictions. Examples include the ever expanding list of unauthorized brokers from the French Autorité des Marchés Financiers (AMF) which was updated in August, the SEC’s warning to Banc de Binary in June, and September’s listing from the British Columbia Securities Commission (BCSC) about GOptions, TradeRush, and 24option. Using internet viewer statistics and reviewing ads in search advertising, regulators are easily able to evaluate whether firms are marketing illegally in their jurisdictions. However, barring a few individual cases, there has been very little punitive punishment handed down.