Software for binary options trading
Every trader dealing with binary options enjoys a unique opportunity – their own trading terminal. The trading terminal is actually a kind of a “window” to the financial asset exchange trading, software for options that allows the trader to speculate for a rise and drop in stocks, currency pairs, commodities and indices along with the other participants in the financial markets.
Today, the software for binary options trading can be divided into two main groups:
- software for trading options located in the protected area of the brokerage company website – a web terminal for options trading;
- options in MT4 – software that runs autonomously without web browser and is installed directly on the trader’s personal computer.
Browser type of trading
This type of trading is the youngest and is being used within the last 10-15 years. Its essence lies in the fact that the client of the brokerage company has no need to install additional commercial software on their personal computer. The trading terminal is provided to traders on the website of the brokerage company in the protected area, where a trading platform itself is located.
At the same time, despite the huge number of brokerage companies, there are only 2 types of the web terminals for binary options trading, which could be distinguished by their developers:
Metatrader binary options is provided by MT4 (MetaTrader 4), which is a development of Meta Quotes. This is a stand-alone running program that brokerage companies offer for download and installation to personal computers of all their clients.
Trading terminals for binary options trading on smartphones is software for trading binary options that is installed on smartphones – traders’ mobile phones.
Actually, this is the complete list of the software you can use for binary options trading today. According to statistics, the trading terminal most frequently used for binary options trading is SpotOption (about 70% of the market), Tradologic holds about 24% of the market, and Meta Quotes – about 6% of the software market for binary options.
Browser terminals for binary optionsMain advantages:
- no need to download and install to your own PC;
- good level of security via SSL HTTPS protocol with 256-bit encryption of information flows;
- intuitive ease of use;
- lovely design;
- good selection of options and features.
- lack of tools for technical analysis;
- lack of choice in the charts except for linear;
- lack of timeframes.
МТ4 terminalsMain advantages:
- excellent selection of functions;
- availability of the strategy tester;
- availability of technical indicators and other tools for conducting technical analysis;
- good level of security via 256-bit encryption of information flows;
- availability of various timeframes;
- availability of a range of different types of quote charts (linear, bars and Japanese candlesticks);
- very difficult for trading and perception;
- primitive design;
- lack of intuitiveness in the choice of the functions;
- lack of selection of various options (only classic options are used).