We suppose you already know the main benefits of trading binary options, so today we’ll deepen our analysis with a discussing about some binary options types. This is all the more important in current circumstances when so many traders are eager to find the best possible (or more likely, the more suitable to them personally) trading platform.
To begin with, in binary options industry (the same situation, incidentally, reigns in the world of Forex too) all the platforms could be divided into the following categories: white label software and its proprietary analogues. What is the difference? White label software is created by certain developing companies that subsequently sell it to firms providing brokerage services in a branch of binary options. Proprietary platforms, on the contrary, are designed and maintained by the trustworthy brokers themselves, so only the clients of these brokerage companies can use this software exclusively.
White Label Trading Platforms and Available Binary Options Types
The binary options market attracts so many brokerage companies, but not all of them are able to have enough resources for creation of their own trading software. Such brokers solve this problem simply by offering their traders a platform already developed by someone else. They customize it for their needs, so the hypothetical brokerage company can just concentrate on providing its services.
These white label trading platforms can supply their users with a certain number of binary options types including the following (the most common options!):
– Call/Put options. The standard ones the whole your trading process is based on.
– One Touch options. This type is so extremely popular because of its possible high payouts whose ratio could be increased up to 200%.
– Range options. These options are mostly based on boundary trades.
– Paired options. This type allows an investor to trade one asset against the other. The main goal is certainly to predict which one will surpass the other.
– 60-second options. Just another type of habitual Call/Put options. Pay attention to its short-term time-frame.
Also, you could meet some really exotic types of binary options during your journey through this financial market. For example, an OptionBuilder. This is another variation of a good old Call/Put option. The only difference is the determination of an expiry time that can be set by a trader. The Variable options intend a customary Call/Put option with a given possibility to extend or shorten its expire time. Don’t forget about rather rare In/Out Trade Boundary trades and High Yield Touch Options as well.
Proprietary Trading Software Has its Advantages Too
Of course, the final aim of a product developer has a huge influence upon the product itself. So while developing companies are trying to make their white label platforms universal to satisfy the majority of potential buyers, the brokerage companies that create their proprietary trading software concentrate on the innovativeness and uniqueness to attach some unusual characteristic features to its product. By trading through proprietary platform, you usually can find more binary options types in comprehension with the white label platforms. Is the bigger assortment of possibilities equal to having better chances? Not always. The decision is all yours. There are many other aspects and factors in spite of binary options assortment that have to be taken into consideration. For example, the quality of the customer support.
Competent Support Factor
Even the most trustworthy and famous trading platforms have some bugs from time to time. They could be stable and fully secure but small issues and bugs are unavoidable. That’s why the quality of the customer support team is so extremely important. The best brokerage companies provide their traders with a highly professional support 24/7. Some of these brokers have live video chat option with a member of service team as well. Don’t underestimate the true value of this argument in order to choose the most convenient and suitable for your needs trading platform.