Several leading retail forex brokers are actively adding binaries to their menu of tradable products
Fresh out of the box: FXDD now starts offering binary options trading through an agreement with binary platform provider SpotOption. The platform to provide the brokerage’s clients with the new service is called Spot Binary Trader, which is a web based platform. Trading will not be available in the US due to the current regulatory framework.
The announcement comes at a time when forex brokerages are increasingly getting eager to jump into the binary options market. It was only a couple of weeks ago when Alpari announced the launch of binary trading. The main surprise in that announcement was the different path chosen by Alpari UK and Alpari Russia with the former being serviced by SpotOption and the latter going with MarketsPulse. CySEC regulated brokerage Markets.com is providing binary options through its brand TopOption.
The binary options space is getting ever more crowded and recently many brokerages have almost scrapped their minimum deposit requirements. With the market maturing it will become more difficult to retain clients, so the toughest job will turn to marketing and sales teams and their ingenuity in bringing in new clients.
LeapRate will follow closely further developments in the binary options industry so stay tuned to get the latest updates.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.