Binary Options Market News: New AlgoBIT by OptionBit
OptionBit introduces AlgoBIT – The First Algorithmic Signals for Binary Options
The best news here is actually the fact that Binary Options are moving Forward, taking us along for the ride. We are starting to see more and more innovations and advances in technology and also, a lot of brokers are starting to pay more attention to their clients’ needs and to regulation. Of course, the industry still has a long way to go and most brokers are “just another face in the crowd”, but an elite few try to be one step ahead of the pack and feel the need for improvement and extra features. One of them is OptionBit! They recently informed us about the September launch of what is called AlgoBIT, the first tool for Binary Option trading that makes use of algorithms in order to increase clients’ profits by offering trading signals directly in the platform.
Hello! My Name is AlgoBIT and I’m here to Help.
AlgoBIT software is developed by Tradologic, the well known Binary Options platform provider but OptionBit is the first broker to make the bold decision of actually implementing it into their platform and offering it as a tool for their customers. The software will become available in September for OptionBit customers and it’s an analytic tool that constantly searches the markets in an attempt to identify emerging and newly formed trends. It acts like a standalone platform and just having AlgoBIT open is enough; you don’t need to run the classic OptionBit platform because all trades can be executed directly from AlgoBIT. There are several ways of using this new software, including Short Term (1, 2 and 45 minute expiries) and Long Term trading (15, 30 minute or even end of day expiries). The signals will appear once a new direction is found and the trader will be informed of this fact, allowing him/her to quickly copy the signal. Of course, the traders can ignore the signals and just trade manually, directly from the AlgoBIT platform, according to their own analysis. The September launch will provide additional information about its features, functionality and profitability, but at the moment it sounds like a great addition to an already fast expanding Binary Options Industry; time will tell if the signals given by this tool are worth following or not.
Binary Options likely to Takeover Japan.
On another note, during the recent Forex Magnates Tokyo Summit 2013, Binary Options platform providers took action regarding expansion towards the Japanese market and complying with the required regulation. The Japanese FSA in close collaboration with the FFAJ (Financial Futures Association of Japan) outlined the rules that need to be followed by platform providers if they want to offer Binary Options to Japanese traders. This is good news for us traders because the Japanese market is huge and once more traders join the Binary arena, brokers are more likely to step up their game, competition among them will start to play a bigger role and ultimately, they will offer us a more professional and safe environment. Those who don’t will probably just fade away and only the best brokers will survive.