SpotOption is financial software firm that created the binary options trading platform that powers various option trading websites such as Banc de Binary and TradeRush. This review will cover SpotOption and will review its visual appearance, ease of use, and notable features, as well as cover any room for improvement the platform may have for binary options trading.
Visual appearance matters for a binary options trading platform because it ties into the user-friendliness of the platform. (Good looks never hurt, either.) The more efficient the design of the user interface, the easier it is to locate the right financial assets to invest in at the right time.
The visual appearance for SpotOption’s platform is pretty basic, with the action buttons – “CALL” or “UP” and “PUT” or “DOWN” – being easy to spot and see. The flashing words can become distracting at times, but you never lose track of where they are in case you want to make a quick deal and trade binary options.
The charts at the center of each asset window are not the easiest to see and understand, but do provide information on mouseover for you to review. All in all, the visual appearance of SpotOption is decent at worst, and should be more than suitable for most traders who want a clean binary options trading platform.
Ease of Use
As far as platforms go, SpotOption’s is fairly easy to use. Some platforms are just too complicated for 90% of option traders to use. SpotOption is different and is something that even a beginner option trader should be able to use with ease.
The layout and user interface allows you to trade binary options by selecting your underlying asset of choice with a simple drop-down menu. The payout percentages for each binary option are prominently displayed, making it easy for an option trader to locate them for trades.
Plus, switching between forex option trading and other types such as index option trading is simple, with the categories clearly displayed at the top of the user interface. Making and withdrawing deposits is also very straightforward, with a seamless cashier area that allows you to quickly fund and withdraw from your account (subject to the licensee’s terms and conditions).
All in all, SpotOption makes it pretty convenient to make a trade – especially with the FastTrader interface (see below).
SpotOption’s most notable features for those who want to trade binary options is its power and flexibility. While it has what it needs for beginner traders, it really shines when it comes to offering advanced options for those who want to employ binary option trading strategies to hedge the other investments in their portfolio.
Furthermore, the platform offers One Touch options for greater simplicity as well as an Option Builder component that allows you to trade binary options by creating your own option for forex option trading or other types.
Plus, you can take advantage of two different trading modes: FastTrader and ProTrader. The first is a slimmed down and compact version of the second, which allows you to make spot trades faster with less bells and whistles. The ProTrader version is the full platform with all the options that you may prefer.
Room for Improvement
One major room for improvement for SpotOption’s platform is greater integration of news, charts, fresh data, and other streams of info that can be helpful for binary options investors. As it stands now, though, the SpotOptions trading platform is suitable for beginners and intermediate traders who want an easy platform to use.