Popular and pioneering trading platforms provider SpotOption is gearing up to address the lack of automated trading solutions when it comes to the trading of binary options. Indeed, although gaining popularity due to their simplicity when compared to forex trading, the trading of binary options has to date not benefited from the use of algorithms that are used in abundance in forex trading, thus greatly improving the trading experience of traders.
Apparently, SpotOption wants to rectify this situation by introducing three main offerings which aspire to standardize the use of trading algorithms in the field of binary options trading. The first change comes is the form of a bridge for the MT4 platform, through which brokers that already offer this platform will be able to connect directly to SpotOption’s binary options price feeds, in essence allowing the plethora of existing backlog of trading robots to be used in binary options trading as well in a seamless manner for clients that already have in place MT4 Expert Advisors (EAs) for automatic trading on forex or CFDs. This new solution has already been tested by some SpotOption brokers both MT4 trading as well as binary options.
The second offering that SpotOption is launching is aptly called Market Scanner and it is trading robot builder that requires no programming, for use on SpotOption’s binary options platform. Expected to be launched in February 2016, the Market Scanner will make it possible for all binary options traders to create automated strategies in a fast and easy manner simply by linking together a series of customizable market triggers, thus putting at their disposal another tool which is already available to forex traders through the existence of several Expert Advisors for automated forex trading, available at reasonable and competitive prices.
The third and final solution that SpotOption plans to put at the disposal of binary options traders is the creation of a dedicated robot marketplace in the form of a unified algorithm store where traders of all the different SpotOption powered brands will be able to locate and obtain the same robots and also compare their performance statistics. Another innovation is that all traders will also be able to upload their strategies to the online marketplace and thus earn an added revenue from followers of their robots. The profile of each robot will display its trading history and risk exposure so that interested users will be able to judge if it fits their appetite and tolerance. Since the functioning of such a store is dependent on the successful launch of Market Scanner the store will begin to operate some time after the successful launching of Market Scanner.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.