July has proven a month of high-profile launches and development for the binary options industry, as it played host to the launch of new platforms from the major technology providers which conform to the new Japanese FSA regulations, all of which were launched at this month’s Forex Magnates Tokyo Summit.
Despite the focus on Japan this month, the platform providers have remained keen to expand their services in other markets and have continued to develop their international offerings.
Algorithmic Signal Trading
Today, TRADOLOGIC announced that it has introduced an algorithmic signal trading feature to its platform in order to keep pace with the quickly evolving nature of the binary options industry which has become increasingly noticeable.
In terms of functionality, the feature is available as a web based program, or a downloadable desktop version, and is customizable to client preferences.
The interface allows its users to trade signals and regular options and provides a facility for changing the signal’s algorithm, allowing the addition of plug-ins to synchronize with other strategies. This operates in a similar vein to the plug in provided by MetaQuotes on the MetaTrader 4 platform.
TRADOLOGIC considers that this innovation has been implemented to provide users with a facility in which they can trade both signals and regular options while at the same time giving them the opportunity to receive signals for both short-term and long-term trading.
The addition of this algorithm based system provides further insight into the industry demand for copy trading in the binary options industry, as earlier this month, O-Systems also added social trading to its offering, and TradeTools FX introduced a copy trading platform with a series of user-defined modes, one of which also determines its market data via algorithmic calculations.
TechFinancials Launches Monitoring Service
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A further technological development today has been announced by TechFinancials, in the form of a new monitoring service for trading applications.
This open source-based solution is intended to provide monitoring on a full-time basis to alert FX and binary options trading companies that are using the TechFinancials platform in the event of system & application issues, with the end result being the reduction of risk of revenue or losses of client base.
The monitoring service, which is compatible with desktop PC operating systems as well as mobile devices, incorporates a customizable view of various system components, such as server status and available memory levels, in order to ensure rapid response that protects trading sites from interrupted operations leading to potential loss of business.
Additionally, it gives trading companies the ability to define business logic they wish to keep track of, which can both provide early warning of system problems, and give the business a clear overview of operations at any instant or over given time periods.
Examples of the types of business functions that can be monitored include user registration levels, deposits, number of users logged in, among others.
Drops in any of these can indicate problems with servers, payment service providers, and so on. Fast action in these cases is necessary to ensure trading activity is maintained, and customer satisfaction is preserved, thereby avoiding users abandoning the site in favor of competitors.
Eyal Rosenblum, co-CEO and Founder of TechFinancials stated that “this new service is based on the leading open source monitoring systems, with added functionality developed by Techfinancials, which is specific to online broker needs.”
“It is very important for us to stay ahead of market trends and be attentive to our partners’ business requirements.
The Techfinancials monitoring service was developed in parallel to the company’s offering expansion. Techfinancials now offers a comprehensive solution for trading, including binary options, exotic options, and “light” forex trading, all in a single, fully customizable platform” concluded Mr. Rosenblum.
Certainly the technology providers are not resting on their laurels, and as outlined in yesterday’s Forex Magnates binary options update, the industry is becoming increasingly structured and recognized by the world’s authorities in markets where it has become a popular method of trading.