In describing equity day trading in the 1990’s, the NASDAQ and the rest of the OTC market was typically referred to as the ‘Wild West of Trading’ compared to the NYSE. With many taking that moniker and applying it to forex, you can use your imagination as to what bill best fits for binary options trading. But, the simplicity of binary options and ability to use them to participate in the financial markets has proven to appeal to a large audience which has attracted not just upstart brokers, but some of the larger firms in the forex industry. After an early advancement period, we can safely say we have reached the era of Binary Options 2.0. This includes the emergence of new providers, features such as order signals and social trading, as well as many brokers becoming regulated.
Following on the 2.0 trend is BinaryOptionsThatSuck.com. A binary options broker review site, that also provides a forum for customers to offer feedback and their personal reviews, BinaryOptionsThatSuck is a bit like the Forex Peace Army. The biggest difference is that BinaryOptionsThatSuck also presents their own broker reviews along with those of customers.
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Adding to their offering is the CommuniTraders 2.0 Social Trading Platform. Similar to platforms like Myfxbook, CommuniTraders allows traders to share their positions and trade history and for community members to follow and view performance of each other. According to the BinaryOptionsThatSuck team, they view CommuniTraders 2.0 as being well-positioned to become a destination for signal providers to share live performances of their strategies. In this regard, they stated to Forex Magnates, “With CommuniTraders, signal sellers can show their real skills on an objective platform and enjoy the highest exposure to the largest binary options crowds. Every member can see the full statistics of signal sellers and make a better choice of provider and the ability to comment on each other’s trades makes it even more interesting, more social.”