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Key features and functionality now available with binary option platforms does vary according to the platform. Shkedi says all providers offer high/ low and other high/low-based instruments. “We offer touch/ no touch options and in/out of boundary options on a single target price. At TechFinancials, we view the high/low instrument as the ‘gateway’. It’s a good place for novice users to start, but the core of the product is in the dual sided trades on the single target price. If I were to simplify it, our pricing is very tight, and the traders can trade both sides (in/ out, touch/no touch).”


The broker’s choice


As to what factors should influence a broker’s choice of e-trading platform to offer their clients trading binary FX options, Shkedi comments: “I think the first thing brokers should look at is the system pricing capabilities. Traders that are already using MT or other trading platforms are already immersed in the concept of analysis, and they will easily pick up on bad pricing, bad pricing methods, and on brokerages that are taking positions against them. Secondly, they should look at the comfort in integrating a new product,” Shkedi continues. “Tere are different ways to do it, so the choice needs to be made if binaries are to operate as a separate profit/loss entity with a separate operating nerve system, or whether there should be as little shake up as possible, and integrate into the systems which are supporting the brokers current FX offering.”


Friedberg clarifies: “Firstly, brokers that have an existing


trading operation will need to know how binary options will work with their infrastructure. Another important consideration is that brokers must choose a provider with a high standard of technology and experience in providing software compliant with regulators. After a thorough inspection of the software and business practices, MarketsPulse was ISO-9001 certified. Furthermore, working with a platform that supports industry regulation, compliance and transparency is very important for not only brokers, but also for traders. Te MarketsPulse platform is fully compliant due to years of experience in dealing with enterprise class clients, working under various regulators.”


“In addition, brokers should look for a technology that enables their traders to trade on their desktops, tablets and mobile phones. MarketsPulse offers native mobile applications for both Android and Apple devices, to ensure a quality trading experience is translated from desktop to mobile. Creating easy access


54 | INSTITUTIONAL FX SERVICES - THE BROKERS HANDBOOK 2012/2013


to the trading platform means more trades are executed, which in turn allows for higher trading volumes.”


While Levy says: “First of all, brokers should choose a platform provider that is a licensed market maker. If they are already regulated, then they will definitely want to protect their credibility by working only with a platform that is regulated as well. Brokers should choose a platform that has a reputable name, experience, and expertise. Tey should look at the P&L of the risk management team, which is the core of the business. Tey should also ensure that the platform provider has an array of features, to keep their offerings dynamic and interesting.” Brokers who want to offer binary options to their clients need to focus on the functionality of the trading platform as a whole, claims Peretz. “A reliable trading platform contains several elements that focus on different aspects of the trading and brokerage activity, from user experience to operational efficiency. A broker seeking to


Product Focus


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