spotoption

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Review of SpotOption Binary Trading Platform

TABLE OF CONTENTS:

The SpotOption platform (website) is used by 300 labels in the binary options trading community accounting for more than 65% of the total market share. It boasts client globally from North America, Europe, Asia, Middle East, Australia and USA.

Some of the binary options brokers using the SpotOption trading platform include:

Figure; SpotOption Brokers

Trading Platform Features

  • Candlestick and area chart
  • Ability to tile asset/chart windows
  • Multi-timeframe charting
  • Indicator studies; RSI, Moving Average, Bollinger Bands
  • Trader Sentiment Index
  • Copy/follow trading
  • FX/CFD trading alongside binary options
  • Multiple assets
  • Different option types

Figure; SpotOption Web Based Platform Interface

Traders can use the tile windows feature of SpotOption platform to view multiple assets at the same time as shown below;

Figure; SpotOption Platform Tiled Windows Interface 1

Figure; SpotOption Platform Tiled Windows Interface 2

SpotOption Strategy Advisor

The SpotOption platform has a strategy advisor which is an algorithm that predicts the trade direction (PUT/CALL) based on three technical indicators; Moving Average, RSI and Bollinger Bands. The strategy advisor is free and automated.

Beste Broker fur Binare Optionen 2020:
  • Binarium
    Binarium

    Der beste Broker fur binare Optionen fur 2020!
    Ideal fur Anfanger!
    Kostenloser Unterricht!

  • Finmax
    Finmax

    2 Platz in der Rangliste! Zuverlassiger Broker.

Figure; SpotOption Platform Strategy Advisor

SpotOption FX/CFD Trading Interface

SpotOption offers spot Forex and CFD trading alongside binary options. It allows traders to achieve up to 500% returns by selecting their preferred stop loss, take profit levels and the leverage.

Figure; SpotOption Platform FX/CFD Trading Interface

SpotOption Follow Feature

Figure; SpotOption Platform Follow Feature

The platform also allows traders to copy the trades of other successful traders directly into their own trading accounts. The trader chooses the period to copy trades ranging from one day to one year and the investment amount to use. (read more about Social trading in BinaryOptions)

Limitations of the SpotOption Web-Based Platform

  • Limited technical indicators
  • No technical analysis drawing tools
  • Limited chart area

SpotOption Mobile Trading Application Interfaces

SpotOption Education and Tutorials

Traders of all experience levels should always be looking for a binaryoptions broker that offers a broad range of free educational materials. With its SpotAcademy, SpotOption has materials from some of the most respected traders in the business that offer insights into how successful traders structure their positions. This information can be invaluable when looking to construct your trading strategy.

Conclusion

SpotOption – good binary options trading platform has been the number one choice for numerous brokers and used by thousands of traders to execute their trades. We can see that the new platform has a clear, user-friendly design. SpotOption won the 2020, Best Binary Options Platform Provider Award by Finance Magnates.

SpotOption – The Hidden Binary Options Empire

Even if you never heard of SpotOption, as a binary options broker, you have probably already deposited money with them. This is why you should know the firm. This article explains the details of SpotOption’s business and how it influences you as a binary options trade.

In detail, this article will answer these questions:

  • Who Is SpotOption?
  • Why Do I Have To Know SpotOption?
  • Why Is SpotOption A Problem?
  • What Are Digital Options And Why Do They Matter?

With this information, you will be able to understand who SpotOption is and how you should deal with the hidden empire of binary options.

Who Are SpotOption?

SpotOption is a “platform provider” for binary brokers. This means they provide the software, the banking, and almost everything else that binary options brokers offer to their customers. There are only a few platform providers that create the systems that most brokers use, and SpotOption is one of the biggest of them.

To understand the system, think of car brands. Most big car makers own several car brands. They develop a platform and use it for models with each of these brands. While these models are different on the surface – they look different and have different interiors – the actual car is often identical. You get the same drivetrain and the same engine whether you buy an Audi or a VW, a Cadillac or a Chevrolet.

In the 1950s, the U.S. car market was dominated by three car makers – Ford, General Motors, and Chrysler. Despite the few car makers, there were many, many car brands – from Oldsmobile to Cadillac, and so on. This variety was mostly an illusion that sold cars build of identical components in different designs.

Many but not all binary options brokers are the result of a similar illusion. They are the brands of a few binary options makers.

SpotOption does the same thing as General Motors, but with binary options. They offer the platform; binary options brokers add their designs and their branding. But that is all that the brokers do. As long as two brokers both use the SpotOption platform, it makes little to no differences which of the two you use.

SpotOption offers these services to its customers:

  • Trading platform,
  • Content management system,
  • Customer relations management (CRM),
  • Payment solution integration, and
  • Risk management solution.

As you can see, this list contains everything that you need to start a brokerage. Customer support, banking, the website itself – it’s all there. All you have to do yourself is come up with a name and design a few details, SpotOption does the rest.

In 2020, SpotOption claimed to have 300 brands or affiliates. These brands all looked different, but they were effectively the same broker. It is unimportant which of these brokers you choose, as soon as you deposit money with them, the money will eventually end up with SpotOption, and you will get your binary options, your assets, and your payouts directly from SpotOption.

The most prominent SpotOption platform was Banc De Binary, once the biggest binary options broker in the world. After legal complaints on three continents, Banc De Binary ceased its operations in early 2020. Other brokers that use the SpotOption platform are:

  • TradeRush,
  • iOption,
  • TraderXP,
  • Empireoption, and
  • VIP Binary.

All of these brokers are essentially the same thing.

Of course, this list is incomplete, but you are probably dealing with a SpotOption broker when you recognize these elements:

  1. Additional trading tools. SpotOption platforms usually offer such features as take profit, rollover, or extend that allow you to manage your binary option after you invested.
  2. Transparent market movements, large buy and sell buttons. The SpotOption trading platform is designed to make trading easy and get you to trade as much as possible. Therefore, it displays two large investment buttons – a green button to invest in rising prices and a red button to invest in falling prices.
  3. Trader’s choice indicator. Most SpotOption brokers use an indicator that indicates the percentages of traders that recently invested in rising or falling prices for an asset.

SpotOption allows its customers to customise their trading platforms. Every SpotOption customer will look a little different, and there is a pro-style trading platform with all the features and a light platform with fewer features and a cleaner look. Nonetheless, once you get a good feeling for the typical SpotOption look, you will quickly be able to recognise a SpotOption once you see it.

Why Do I Have To Know SpotOption?

At first, the technicalities of binary options trading can seem unimportant. Who cares how a broker creates its trading platform, as long as it is a good platform, right? Well, not so fast.

First of all, it is important to understand what is happening to your money. When you deposit with a broker that uses SpotOption’s banking solution, your money will eventually end up with SpotOption and not with the broker. This is a huge difference, and it means that you have to investigate an entirely different company when you check whether you can trust the people who handle your money.

This is the business side. But there are much more reasons for why it is important to understand SpotOption and the business idea behind it. Let’s look at the three most significant ones:

  1. You can better understand the relationship between brokers. If two brokers are essentially the same thing, there is no need to compare them. Instead of being overwhelmed by the hundreds of brokers out there, you understand that over 300 of them are the same thing, which makes it easier to find the right broker for you.
  2. You can better understand the risks of trading with certain brokers. Banc De Binary, the most important client of SpotOption, had to cease its operations after many governments cracked down on the business. Since all other SpotOption brokers use the same basic system, you know all about them that you need to know.
  3. You better understand the value of independent brokers. Not every broker uses a platform provider. Some do everything for themselves. These brokers are able to accept government regulation and are the most trustworthy brokers in the market. We recommend choosing one of these brokers because they provide an honest trading environment, unlike most platform providers.

SpotOption is not the only platform provider for binary options. Companies such as TechFinancials and TradoLogic offer similar services. The most popular brand of these providers is 24option, which sponsors soccer giant Juventus and partners with tennis legend Boris Becker. For a complete understanding of the binary options world, we recommend learning more about these providers, too.

Why Is SpotOption A Problem?

As the example of Banc De Binary indicated, there are severe problems with the SpotOption service. Here are those you have to know.

  • In 2020, SpotOption marketed its service as the perfect financial game. That is their approach to binary options – they focus on the gaming aspect over the investment aspect. In itself, this is okay – many people pay money for gambling services, so why not a financial gambling game? The problem is that most of SpotOption’s customers fail to clearly communicate this aspect of their business. They promise rapid profits and a simple trading environment, which is not what SpotOption provides. As a trader, you have to know that. If you want to invest, stay away from SpotOption.
  • Two of SpotOptions sales managers released internal documents that showed that 80 percent of all traders who signed up with one of SpotOption’s brands lose everything they invested. That’s okay – for a gambling site. Most people who bet on sports lose their money, too. But if you want to invest, stay away from SpotOption. Only use the money you can afford to lose, and know that it is highly likely that you will lose it all.

In short, SpotOption is a questionable business. We recommend staying away from it. There are other binary options brokers out there, and you are much better signing with one of the legitimate ones. For a list of government regulated brokers you can trust, we recommend taking a look at our broker list.

What Are Digital Options And Why Do They Matter?

As we already pointed out, SpotOption has recently faced legal issues. Their most popular brand, Banc De Binary, had to close due to many governments cracking down on the service. To face these legal issues, SpotOption has created a new product called digital contract that is supposed to fulfil government requirements.

Digital contracts are basically a rebranded version of the old SpotOption service. They offer a few new modifications, for example a new payout and expiry model, but, so far, there is no indication that the service has become more trader friendly.

There is simply not enough data to judge the new SpotOption service yet. Therefore, we recommend being cautious. There are trustworthy brokers out there, so why use a service where you are unsure whether it is legitimate?

SpotOption Verdict

SpotOption is a difficult topic. On the one hand, it has contributed significantly to the rise of binary options, which has also lead to the creation of many good brokers. On the other hand, SpotOption in itself is a questionable business that boasts about how many of their traders lose all their money.

We recommend staying away from SpotOption and its many brands. Pick a trustworthy, government-regulated broker, and you should be fine. Our broker list is a good starting point for your search. The leading brands all create their own platforms – not relying on any underlying technology.

SpotOption review

Rating:

The Binary Options Platform industry is polarised. The industry has big players and small companies who try to gain some market. The biggest player in the market is SpotOption. It crushes the competition with more than 50% of the market share. Want to know what makes it the best? Read it in our SpotOption review!

Desktop App: No Tech. Analysis: Yes

WebTrader: Yes News Feed: Yes

Mobile Apps: Yes Social Trading: Yes

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SpotOption: About the Company

Even though the creation of the SpotOption is dated 2009, the company got licensed in the May 2020 with the SpotOption Exchange License and is regulated by CySEC. It is clear from the regulations that the headquarters of the SpotOption are based in the Cyprus. It was found out that at the time of the our review, the company provided customers with binary options platform and white label solution.

The SpotOption holds the 70% of the binary options market and provides its services to more than 250 companies worldwide. The platform of the review could be not only used as a finished product (plug-and-play), but also as a base for the integration and customization. So don’t be shocked when you a bunch of different platforms that are actually all SpotOption based.

Recently, the SpotOption introduced the newest of its products – the Spot Machine. The Spot Machine allows you to trade binary options in a new way which is somehow similar to the withdrawal from the ATM. Unfortunately, this machine is not a purpose of this review.

SpotOption Types of Options

The pure SpotOption platform has 5 main types of binary options trading that are available for the binary option brokers, so the list of options can change from broker to broker.

This is the basic binary options trading type, which is sometimes called Hi/Low. The main goal of such binary option is to predict if the price will be above or below the execution price in the selected time. The time selection is from 15 minutes to the market closure.

From the basic point of view, it is the same type of trade as the binary, but the timeframes are much shorter, so you have to be ready to act fast. You can trade binary options of this types on 60, 90, 120, 180 and 300 seconds.

This type is interesting due to the combination of the basics on binary trading with long-term investments. So, you once again predict the price to go up or down, but your timeframe has a core difference. The timeframe of such binary options trading type is every Friday’s market closure till the end of the year. To be honest, the SpotOption Platform review finds it to be pretty amazing.

Are you good at predicting whether the instrument get to some particular level in 15 minutes? Than one touch binary options trading is for you. You just bet on touching the level or not touching the level and that is it.

The main question of such binary options is “Which will perform better?”. So you asses not just one instrument, but two at the same time. Afterwards you just answer the question above with either one instrument or another and receive your reward. The assessment can be made for 30 minutes, 1 hour, 2 hours or market closure.

AMAZON VS EBAY AMAZON VS NETFLIX APPLE VS AMAZON APPLE VS GOOGLE
CITIGROUP VS AIG CITIGROUP VS JP FACEBOOK VS TWITTER GOLD VS OIL
GOLD VS SILVER GOOGLE VS BAIDU LINKEDIN VS FACEBOOK LINKEDIN VS TWITTER
McDONALD’S VS STARBUCKS S&P 500 F VS NASDAQ F

It was also found out by the SpotOption binary options platform review that such trading options as Ladder, JLdo and FX/CFD are currently in the stage of development and will be available in the nearest future.

Currencies Stocks Commodities Future Indices
EUR/USD AXA OIL DOW JONES 30 FUTURE
GBP/USD BARCLAYS Gold NASDAQ 100 FUTURE
EUR/JPY BBVA Silver S&P 500 FUTURE
GBP/JPY BEIERSDORF COFFEE FTSE 100 FUTURE
USD/JPY BMW CORN DAX 30 FUTURE
USD/CAD BNP PARIBAS SUGAR CAC 40 FUTURE
USD/CHF BP GOLD/EUR IBEX 35 FUTURE
EUR/GBP LUFTHANSA GOLD/JPY MIB 40 FUTURE
AUD/USD E.ON GOLD/SILVER SMI 20 FUTURE
AUD/NZD ENEL COPPER
NZD/USD FIAT TA-25
AUD/CHF ORANGE FRANCE SOUTH AFRICA 40 FUTURE
AUD/CAD GAZPROM ASX 200 FUTURE
AUD/JPY ROSNEFT NIKKEI 225 FUTURE
EUR/AUD ROYAL DUTCH SHANGHAI COMPOSITE
USD/ZAR ICICI BANK NIFTY-FUTURE
EUR/ZAR SBERBANK BOMBAY 30
EUR/TRY SOCIETE GENERAL DUBAI
USD/TRY TESCO TADAWUL
USD/NOK THYSSENKRUPP
EUR/NOK UNICREDIT
CAD/CHF VODAFONE
CAD/JPY MICEX
CHF/JPY PLATINUM
EUR/CAD AMAZON
GBP/CAD AMEX
GBP/CHF APPLE
GBP/AUD BAIDU
NZD/CHF CITIGROUP
USD/RUB COCA-COLA
USD/MXN DISNEY
USD/SEK EXXON
FACEBOOK
GOOGLE
IBM
JPMORGAN CHASE
MCDONALDS
MICROSOFT
NIKE
TWITTER
YAHOO
ALIBABA
ANZ
SONY
SUMITOMO
BHP BILLITON
WESTPAC BANKING
RIO TINTO
TATA MOTORS LTD
RTSI

SpotOption Platform

The SpotOption platform is available in your browser, so no packages are required. At a first glance – the SpotOption gives a feeling of the platform that is made by the professionals.

The second looks at the platform is the same as the first one, you will definitely enjoy it!

Even though the platform is full of additional features, it has to be admitted by the SpotOption platform review that its response time is superb. Also, there are no bugs and no slowdowns, even if you try to create them.

The instruments displaying options are just perfect. You have an ability to have big list, small list, panel view and single instrument view. The best part is that every view type allows to create orders in clear and simple way.

Another valuable feature found by the SpotOption binary options platform review is the instruments filtering. The platform allows normal filtering between:

and also has the “Hot Assets” option, which displays assets that are the most tradable at this point.

The instrument’s chart can be displayed in 30 minutes, 1, 2, 4, 8, 12 hour timeframes.

The order creation process is no pain as well. You just have to decide on the investment amount, press the desired button and then confirm the order. The SpotOption binary platform review found out that you actually have a possibility to cancel your order in 3 seconds after you confirmed it without any additional charges.

The social trading option is made in easy way as well. You just have to find the trader that suits you the most, decide on the investment period, set limits on the per trade and total investments and press follow. Furthermore, in case you have enough money on your account, you can press the no limit button so your order sizes will be the same as order sizes of the trader. The binary options SpotOption platform review supposes that this is actually the most convenient way of making social trading on binary options at this time.

SpotOption SmartPhone Apps

The SpotOption has the binary options trading applications for iOS and Android. The iOS actually has two applications, one for the iPhone and the other for an iPad.

At a first look, it is easy to see that it was done by the SpotOption, it looks very similar. It is logical that a functionality of a mobile app will be lower than the web-platform. It includes only basics, without fancy social trading and news feeds.

The SpotOption mobile platform gives you the useful guide on the usage of the application the first time you try to make an order. The SpotOption did not find any difficulties with order creation in neither of the mobile apps. The process is even simpler than the one on the web-platform. You just decide on the amount and make a trade.

The only thing that remained unclear – was the field that stated “Connection. Tap to reconnect to live trading”, maybe it was server error, but the main function of the button in the field was refreshing the chart.

The mobile app can be used for the mobile trading but the review of the SpotOption is more impressed with the web-platform.

SpotOption Review Conclusion

As can be seen from the SpotOption binary options platform review, it is the best binary options platform in the market at this time. It provides brokers with the quality platform that can be brought directly to the customers without any significant changes. The Binary Options Hub is actually disappointed by the way some binary options brokers change the layout and functionality of the platform.

The filtering and view abilities presented by the SpotOption show that the company clearly understands what their customer want. Also, the way SpotOption brings social trading is the best option in the market.

Anyway, if you do have a decision between some other platform] and the SpotOption platform – go for the SpotOption, you will not regret it!

For all these reasons the SpotOption platform review receives 5 out of 5 stars.

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Beste Broker fur Binare Optionen 2020:
  • Binarium
    Binarium

    Der beste Broker fur binare Optionen fur 2020!
    Ideal fur Anfanger!
    Kostenloser Unterricht!

  • Finmax
    Finmax

    2 Platz in der Rangliste! Zuverlassiger Broker.

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