When you are searching for the most user friendly, accessible binary options trading platform, it is important to make an informed decision. This TradeSmarter review aims to give you all the essential information that you need to help you choose.
Formed in 2008, TradeSmarter is one of the better known popular binary options trading platforms that has been adopted by several of the best binary options brokers on the market. Its simple interface, while being rather too simplistic for some users, is easy to use, especially for those who like to focus solely on binary trading options.
Its primary trading screen has a main trading area allowing investors to select their instrument of choice and a section to the right where the various account features can be found including access to the trader account balance, account settings for editing profiles and withdrawing or depositing money, and open positions. Traders can even choose from two different views of the trading platform to suit their preference.
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Contract Option Types Available
There is a choice of three main binary option contract types available from TradeSmarter. These include:
- High/Low – the simplest contract type which allows a trader to decide whether an asset’s closing price will be higher or lower than its opening price.
- 60 Seconds – a trade that expires with just one minute, this is an ideal choice for those who love fast paced trading.
- StrategiX – this is the TradeSmarter platform’s own proprietory range-based trading feature which is exclusive to this platform. An investor can select either Touch/No Touch, Above/Below, No Touch Up/Down or Range Up/Down. Each option contract comes with an expiry time that has been preset. StrategiX contract payouts will vary depending on the expiry time, instrument and contract type being traded.
There are four types of assets which can be selected and traded – Forex, commodities, stocks and indices, with multiple choices within each. This gives traders plenty of scope for making the trade of their choice.
There are three sections of the trading screen – All, Favorite and Top Pick. It is possible to choose frequently selected instruments and add them to the Favorites tab to allow quick and easy access. Traders can choose with ease between the various markets available for trading and can select the type of contract that they wish to trade. Finally, they should choose the contract expiry time that best suits them and they are set to trade.
Additional Features Available on the TradeSmarter Binary Options Software
There are a number of excellent additional trading features for binary options traders offered on the TradeSmarter platform. Here are some of the best trading features available:
An investor can simply click on the tab below the chart marked “More” to select payouts and returns should the contract expire Out of the Money.
Traders are able to use the Social tab to monitor the trades of other investors in real time and to copy them.
Clicking on the “Chart” tab brings up a window that has a clear chart in the form of either a line chart or a candlestick chart.
Market Sentiment Bar
The Market Sentiment Bar is a unique feature that enables an investor to see at a glance how the market looks before they begin trading. Similar to a form of trading signal, this feature is useful for predicting an asset’s market trend.
TradeSmarter Binary Options Software Mobile Platform
The TradeSmarter trading platform can be accessed on mobile devices using the downloadable app. This is available for both iOS and Android devices and is easy to use, offering additional features such as the option to place a deposit direct from a mobile device. Traders can also use the app to see their trade history and to monitor any existing trades as well as to trade directly through the app.
TradeSmarter Customer Service
TradeSmarter are well known for their excellent multi-lingual customer service which is available in 12 different languages. Their helpful tutorials are also available in 6 languages – English, Italian, French, Russian, Spanish and Korean. These tutorials are ideal for those who are new to binary options trading as they provide an excellent insight into the market as well as supplying an extensive knowledge database. There are several ways to contact the customer support team including via email, live chat or through their telephone helpline.
Those who choose to use the TradeSmarter binary options trading platform can be assured that they are selecting a platform which is simple to use and easy to understand. Not only this, but it comes with several unique features that are beneficial to both beginners and advanced binary options traders alike. Thanks to its user friendly interface, the TradeSmarter platform is simple to navigate, although it could have been improved by having a better range of advanced charting capabilities like those that are offered by some of their competitors.