Tradesmarter, the binary options technology developer, announced today to Forex Magnates its new cooperation with automated technical analysis provider, Autochartist. This is the first time Autochartist will be introducing a product developed specifically for the binary options market.
The CEO of Autochartist, Ilan Azbel said: “Autochartist is proud to partner with TradeSmarter in leveraging our core technical strengths to provide Binary Options traders with consistent and unbiased technical events on short time frames.”
As the iFX Expo International in Cyprus unfolds in the next two days, many announcements of new products and cooperations are expected and Forex Magnates is poised to report on the most important ones.
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The new technical analysis widget was designed to appeal to both novice and experienced traders according to the announcement, allowing them to confirm their trading decisions before executing a trade. The widget offers insight for short-term market movements displaying analysis of 1, 2 and 5 minutes, similar to Tradesmarter’s already existing short-term expiry times. “The short- term nature of Binary Options makes it interesting from an analysis perspective; this is because human analysts simply cannot provide reliable and consistent research on such short time frames,” said Azbel.
Jonathan (Yoni) Avital, CEO of Tradesmarter, also commented on the announcement: “Tradesmarter’s vision is to introduce top quality 3rd party products to provide unique and customized solutions to benefit Binary Options traders.”
Tradesmarter will display the widget on the sidebar of the platform once the trader is logged into the account, using it as an incentive for client registration. According to the announcement, Tradesmarter expects the technical analysis widget to not only increase quality of end user experience and satisfaction, but also to see an increase in trading volume for all of their brands as a result.