Binary Options is pretty much experience the same growing up problems as Forex did a decade ago. There is a lot of turbulence in the industry and it’s attracting some less desirable figures too. That’s how it goes with a new industry as there are always some luck seekers around trying to squeeze out a buck by tricking people. These types never last long and soon they will move onto the next new thing on the net. The Binary Options industry is still not out of the woods but then again you can also see that Forex is still struggling a bit in the US with the latest regulation. Binary Options have been hit as well by NFA and it is difficult for a US resident to trade Binary Options, even Forex.

It really doesn’t make sense either since EU regulation is much tougher than US, but perhaps this is their way of cracking down since the many scandals that have hit the US lately, for example the Madoff scandal. As always it is the wrong medicine for the wrong patient but the government has always and will always protect big business and it is no different this time around. Instead of beefing up the regulation and introduce segregated accounts EU style they are fiddling around with some small fish. OK, scammers need to be removed but that can be difficult no matter how much regulation you have in place. If someone wants to rip off their customers they can do it.

Despite all this Binary Options are moving to the front of the trading queue and rightfully so. Binary Options are simple and easy to trade and there is a combination of science and art to get it right in order to make a profit. The platforms used today are not the best but then again we are still in the infancy stage of this industry. The platforms will become better and more customer friendly as time goes by. One thing that is alcking is really better charting. They are barely adequate but perhaps the brokers believe the trader should use a professional charting platform. Looking again at the Forex industry you can see what big changes that have happened the past 10 years. Everybody has now moved on to the MT4 platform with only a few brokers sticking to their own. The MT4 platform is well known to be rigged and it wouldn’t surprise us if MetaQuotes, the maker of the MT4 platform, will move into Binary Options soon since the underling process of distributing or matching the trades is the same.

The most popular Binary Options platform is without a doubt the SpotOption platform. We are not entirely sure why but believe a combination of price and profitability is probably the main reasons. One platform provider has already thrown in the towel. They didn’t have many client and probably went bankrupt. The exact reasons are not known. Another well known platform is the TechFinancials platform which is going from strength to strength.

TechFinancials-binary-options

It will be very interesting to see where this industry is going, after all it is not set in stone. What many think is different from Forex trading is the absence of Binary Options Demo Account. In contrast to Forex which always offer a demo account, binary options brokers very seldom do. This is strange but perhaps since binary options are closely associated with the gaming industry and less so with the trading business it’s not so peculiar after all. We will be watching this industry closely to see where it is heading. One day we might see that it is moving in the right direction.

 

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