In advance of this week’s IFX Expo in Cyprus, we have been receiving a slate press releases from firms that are launching new products or announcing news and will be attending the event. Yesterday Panda Trading Systems announced their expanded partnership with FxPro. Following that move, binary options provider Tradologic has announced several new upgrades and new features on their platform.
One of the trends we are seeing among binary options platform providers is an emphasis on short trading durations to stimulate trading problems. Following this trend, Tradologic has announced the launch of a new feature called ‘Turbo’ in their trading platform as well as an upgraded user interface (UI). Turbo is a new product of short duration option contracts, with expirations of 1,2 and 3 minutes. According to Tradologic, the new Turbo feature is aimed at increasing broker trading volumes. In initial results since its rollout, Tradologic has reported that volumes have increased 30% with Turbo accounting for 25% of overall volumes.
Within the competitive binary options provider sector, firms have been rapidly releasing new features to distinguish their offerings and increase their appeal to brokers. In terms of trading volumes, having products that increase trader activity is useful for brokers as it increases long term values of clients as well as providing greater commission payouts to affiliates.
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In addition to the ‘Turbo’ product, Tradologic is updating its user interface with two separate products; the launch of a ‘Speedometer’ and ‘Clock Count Down’ feature, as well as new ‘skins’. The Speedometer and Clock Count Down are image and interactive products that are based on providing an easier point of reference for traders to understand the current moves in the market and the underlying binary option contract they are trading.
The new skins are what Tradologic calls ‘trade rooms’. The new rooms are called BX Trader, BX Game, and BX Pros. BX Trader has what they call “a skin with a strictly financial look, highlighting a list with a great number of assets” and includes one “big chart”, with the entire platform using a single page interface. According to Tradologic, “BX Game is a simplified and easy-to-use binary options trade room” and “BX Game makes binary trading easy and comfortable with the ability to make a deal straight from the menu.” It is geared towards “binary options investors who enjoy a relaxed approach towards trading”.
The last room, called BX Pros is referred to “a trade room with a very professional look which features a highly advanced asset filter. BX Pros is a trade room where all the necessary trading information is visible which makes binary trading experience easy and convenient.”