Binary options trading provides its own strategy, which partially differs from Forex strategies. Popular platform MetaTrader is not able to fully provide full functionality for the professional investor, which led to the need for a separate trading platform for binary options.
The company was created in 2009. In 2014 SpotOption had become one of the leading providers of trading platforms for brokers working in the binary options market. Today this trading platform can be found at almost every 3rd broker in slightly edited form – every broker strives to bring something new to the original creation of the SpotOption, but in General the benefits of the program remain the same:
- the platform has one easy functionality, the interface is recognizable, no matter what changes are made to it by the broker. When you move to another broker, the investor avoids adaptation to the new terminal;
- lightning-fast execution of trading orders of the investor. The amount available for trading assets – more than 150;
- all the buttons, tabs are very clear, allowing you to deal with the principles of the platform to a demo account in intuitive way.
Other benefits of the SpotOption platform you can learn by trying your hand at a demo account.. The developer offers original full trial version (no installation required), but note, that the basic language is English.
The modified version in Russian language with free demo account can also be found at some brokers, but to adapt quickly to any improvements we recommend the website of the developer.
Successful binary options trading on SpotOption
Home page of the trading platform consists of top and bottom menus, and graphics with the two main buttons (“call” or “put”). The amount of remuneration that will be received by the trader if you guess the movement of the price trend is displayed on the right.
SpotOption main interface
The bottom menu, which displays the history of opened binary options depending on their type.
- The main screen has several tabs:1. Binary. Classic options where the trader just needs to guess the direction of the trend. The second menu allows you to choose the asset on which would be the trade (stocks, currencies, indices or commodities). After selecting from the drop-down menu (Asset) you can specify the asset.
- Long Term. Standard binary options, the expiry time which is set by the trader on his own discretion in the long-term period (day, week, month).
- 60 Seconds. Convenient trading option for those who have no time – the trader will see the result in 1 minute. Choose the option, place a stake and get to know the result in 60 seconds. In the auxiliary menu (located just below the main one) choose your asset. Possible variations 120 or 300 seconds.
The result of the public option is displayed in the lower menu on Open Positions tab, about already committed transactions – in the Expired Positions tab.
- One Touch. Here, the price needs to reach a given level only 1 time during the week, the level chosen by the trader. This kind of trading allows you to trade only on weekends or every day and provides an opportunity to earn a higher income than classic options.
- Ladder. A relatively new form of trading where a trader gets access to multiple execution prices with the option of fixing the income at achieving each of the levels.
- Pairs. The variant of trading where there is no need to predict the movement of price trend, and you need to guess which of two assets will bring greater profit for a fixed period of time.
Add-ons of different brokers can expand the tradable binary types. On the right side of the screen, immediately below the main menu, the trader has the option to choose the display of tabs
Thus, to begin to work with the trading platform SpotOption, the trader must take the following steps:
- select the type of the option in the upper menu;
- in the submenu to select the instrument (the underlying asset on which to make the deal);
- to set the expiry time (contract period);
- to decide on what sum to purchase the option;
- select “CALL” or “PUT” option.
As you can see, the trading platform SpotOption is quite simple – if you possess the theoretical minimum of how, in principle, the binary options trade is performed, the functionality of the terminal can be learned in 20-30 minutes. SpotOption is optimally suited for both beginners and professional traders. The platform is installed on desktop computers and on mobile devices is compatible with almost all operating systems.