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TradoLogic Binary Options Trading Platform
Trading Easily and Fast with traditional Binary Options Tradologic Platform
By Richard Cox
The Tradologic options trading platform is one of the most widely used trading stations in the binary options business and the company’s position as one of the established software providers has enabled them to refine their products and create one of the most efficient and easy to use software that is currently available. Like some of the other popular choices, the news and price feeds are based on Reuters updates, so traders can be sure to understand that the pricing information is as accurate as any other platform in the industry.
Perhaps the most striking feature of the platform is the simplicity of the design and the ease (and quickness) with which trades can be placed. News based and short term traders will find this design to be one of the best platform options available, given the fact that it is difficult to make a mistake (for example, placing a trade in the wrong direction) because the layout is so user friendly.
Noticeable Brokers using TradoLogic Platform
OptionBit, XPMarkets, BullOption
Platform functionality (9.5/10) mostly based on the lack or tech. analysis that can be done
Platform efficiency (9/10)
Ease of use (10/10)
Additional information (8/10)
Average number of assets and expiry times – hourly, daily, weekly
Trading tools available – rollover, stop loss, take profit
Trading options available – Digital, Touch, Range
Prices & Rates: Highly Accurate
Why TradoLogic doesn’t suck?
The Tradologic platform is arguably the most clearly designed platform that is offered by any binary broker. Trading contract choices are divided by tabs at the top of the platform, and include currencies, indices, commodities, stocks and “favorites.” This last option is probably the most useful of the lot, as it allows you to combine the assets that you commonly trade, and put them into a single area that is easy to find. Clarity and simplicity looks to be Tradologic’s central focus as there is very little here in the way of “bells and whistles.” The platform is designed to be easy to figure out for traders with all levels of experience.
The platform also combines a very convenient button for the Live Chat feature and this will come in handy if any problems arise with your account or in an individual trade. The platform also uses easy to understand language (with most of the market jargon removed), and this will be helpful for newer traders as well.
Why does TradoLogic suck?
In my experience, the main weakness of the platform was its lack of flexibility in terms of the various contract options that are available. If you are looking to make very traditional types of options trades, this will not be much of an issue but in my view Tradologic is a little bit behind the curve (compared to some of the other major brokers) in expanding on the “digital, one touch, and range” option types that are currently on offer. Technical traders might also be put off by the lack of charting software that can be seen on the Tradologic platform.
Since Tradologic has had a good deal of time to develop and test its software technology, it should be of little surprise that the platform’s efficiency and execution levels are amongst the best in the industry. Contract types, however, are limited to the basics, and trades can be placed using three different arrangements. First is the Digital trade, which is essentially just your standard “above and below the strike price” trading arrangement. Second is the One Touch / No Touch option and third is the Range option, which is sometimes also called a Tunnel or Boundary option. Clearly, these choices cover the essentials and little else, so for traders looking to implement more exotic strategies, the Tradologic platform might not be the best choice.
My Trading Experience
Since the platform is clearly geared toward the basics, I wanted to use the platform with its strengths in mind, and simply place a traditional call option in the S&P 500. To do this, I looked at the Trader Insight field that is made available on the platform. This is essentially a market sentiment reading that shows you what other traders are doing with respect to your chosen asset.
Here, the table showed that a majority of traders were bearish on the S&P 500 (by a majority of 64%). I am a contrarian trader by nature so, I used this information to look for an area to initiate a 1-day bullish “Digital” call option, as I expected prices to rise during that trading session. The day did see some modest gains, and I used this opportunity to execute Tradologic’s “auto-trading” feature, which allows you to carry in the money trades further and double your payout. The interesting about this feature is that this feature can be implemented as many times as you like and gains can be built on quite quickly in the most successful instances. The auto-trading feature can be easily found on the platform, and the payout levels are displayed as soon as the option is chosen, which is helpful because this payout can help you to determine whether or not it is worth adding onto your current position.
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