Binary Trading Platforms
There are a small handful of software providers that build todays Binary Trading Platforms. Most brokers license the platform and use it for the underlying trading software that runs their interface. Here are the leading binary option trading platforms online today.
Overall Best Binary Trading Platform
The best overall binary options trading platform is the 24option platform.
- #1 Binary Trading Platform = Scipio, aka the 24option Platform
This is the platform of a leading binary option broker, 24option. We rank it number one for its easy of use, its flexibility, its diversity of options and underlying assets to trade and the historical reputation of the only broker offering the software, 24option.
Second place goes to the SpotOption platform, powering leading brokers TradeRush and Banc De Binary.
Right now binary trading is still in its early stages for the common investor. As such, there are four binary trading platforms that serve a growing population of binary brokers. You still have a lot of choices as far as brokers go, but the majority of brokers will use SpotOption, TechFinancials, Tradologic, or AnyOption. These platforms are the interfaces where you make your trades. You may or may not choose to use other charting software to help you to plan your trades before you place your orders.
- SpotOption – A Pioneer in Mobile Binary Trading
- Scipio – (24Option)
- IQOption – (IQOption)
Binary Options Platforms Overview
SpotOption is used by Traderush and Banc De Binary. This is a user-friendly web-based platform which requires no download. The design includes sophisticated algorithm monitoring for options that are open, may be translated into any language, and allows for the use of all popular payment methods. Along with the necessary charts, there is also a live help feature, news, trading instructions, and additional information such as a glossary and an FAQ.
TechFinancials is used by OptionFair. 24Option uses Scipio. Their platform is ideal for trading not only on a home computer, but also on a mobile device. Mobile binary trading is the way of the future.
The other two platforms are similar, and are called Tradologic and AnyOption.
Best Binary Trading Platform With Practice/Demo Accounts?
What’s most important to realize about binary options platforms is that you need to learn your way around them and test them before committing real money. The SpotOption, IQ Option, Scipio and Tradologic platforms offer demo trading accounts.
The trading platform should be just one of many factors you use to select a broker.
You also should be concerned with the broker’s reputation and legitimacy, how easy it is to add and remove funds from your account, what kind of slippage and spreads you can expect, and what size accounts you can trade and with how much leverage. The trading platform needs to be something you’re comfortable using, but it should not be your sole factor or even necessarily your primary factor in choosing your broker.
You won’t get comfortable with any trading platform without trying it out first.
If you find a broker you’re interested in, sign up for a demo account and try trading with virtual money. There are a couple of purposes in doing this. The first is that you’ll be able to get to know the platform’s nuances. When you’re making a live trade, the last thing you should be doing is wasting your time trying to figure out how to actually place an order, get out of a trade, monitor a trade, or so forth. You also would hate to make a mistake simply by entering in the wrong amount of money to invest or making another mechanical error that costs you money. So learn to use your platform first.
The other reason it’s important to demo trade before going live is that you not only need to learn to use your trading platform, but you also need to learn how to translate the method you’ve developed in backtesting into real time and real life. You’re going to make mistakes and that’s a guarantee, so make them with virtual money instead of real money.