The growing popularity of binary options trading has been underlined with news that two more tools will help boost trading profitability have been launched.
There’s been a slew of binary trading software releases in recent months and the most recent includes one from ITM Financial which has since recorded a record number of downloads.
Their ‘60 second binary options’ software is a trading indicator suite which includes improved visual trading designs, high-speed trading graphs and the ability to track bearish and bullish momentum in the markets.
The chief executive of ITM, Curt Dalton, said: “This software is the most advanced binary options software available and we have integrated binary options algorithm signals with trading indicators.”
He added that the software is aimed at giving binary option traders, hedge funds and banks the competitive edge they need when trading in worldwide markets.
Binary options trading systems
There is a lot of interest in the products from ITM Financial since their Genesis trading system netted $17,000 profit in one session.
This occurred when their member traders made the profit in just one short session by using the software using market liquidity levels and private algorithms.
Another popular research outlet has also announced it has revamped its website.
The news comes from ProfitF.com which is a leading forex and binary options trading website which is offering free information that’s easy to use for mobile and desktop users.
Binary option traders access the latest information
A spokesman for ProfitF said the website has been redesigned to help binary option traders access the latest markets information as quickly as possible.
He added: “Traders need to be aware of the latest news and events in the dynamic world of currency and Forex market trading.”
Among the site’s new additions is a search facility for brokers and a section generating trading ideas and Forex forecasts.
Financial Conduct Authority outlines its plan for regulation
Meanwhile, the Financial Conduct Authority (FCA) has outlined its plans to regulate the binary options trading sector in the UK.
The entire sector will move from being monitored as a gambling service to becoming a financial product which means the market will need to comply as a financial product offering.
There is an ongoing consultation on when the FCA should regulate binary options trading and under what financial services regularity framework it should operate.
Currently, the trading of binary options is regulated by the Gambling Commission in the UK.
The new rules will only cover those firms that have a UK presence though, the FCA points out, increasingly more EU countries are switching to financial services protection rather than offering gambling protection.