Tradologic is a binary options trading platform that powers OptionBit.com and several other binary trading websites. It is a binary options platform built to allow option traders to trade binary options in currencies, commodities, stock indices, and various individual stocks around the globe. This review will cover Tradologic and explore how this binary options platform’s visual appearance, ease of use, and notable features make trading options possible at OptionBit.com and its other licensee websites.
Tradologic’s visual appearance is roughly similar to several other binary options platforms on the market. You are given four default trading boxes (in box or list style), with forex binary options or other types chosen via pull-down menu. Each box includes two action buttons, “Call” and “Put”; these buttons dictate whether you expect the value of your chosen asset to rise or fall before expiry.
You are also given the rate offered by the broker and a chart with your asset that helps you see prices at a glance, along with the return you can expect from a successful trade. A scrolling ticker for select assets across the top completes the user interface.
Ease of Use
Judging by its appearance, Tradologic was built to make binary options trading simple. Option traders do not have to cut through a lot of red tape or other distractions to trade binary options with this user interface; you simply select the method – Digital, Touch, or Range – and click the action button for your chosen asset.
Depositing money isn’t very complicated, either, although doing so requires going through a section that takes you away from the main trading page. There is also no easy way to see your balance at a glance, which is an annoyance for some.
One of the most notable features of this platform is the multiple ways there are to trade binary options. To begin with, you have four different asset categories (mentioned above). You also have three different trading methods. For example, if you wanted to trade, say, forex binary options, you could do so with the Digital method, which is the standard way to predict if an asset will be higher or lower than the given rate at expiry.
The second method, Touch, is popular with most option traders because the asset only has to touch a given price before expiry. Finally, the third method, Range, is arguably the most difficult method to use because you have to predict an asset winding up within a certain range of prices at expiry. For example, forex binary options would have to have the USD/JPY pair winding up between, say, 87.000 and 88.000 at expiry.
Room for Improvement
One major improvement would be in the user interface. There is not a lot of information available on the main page as far as current trading news or trading data. Also, it is difficult to see your balance at a glance, or keep track of all of your open trades. Tradologic is easy to use, but it could use some additional elements to make it more user-friendly.