Forex Magnates spoke with Gil Erez, Chief Business Development Officer at Tradologic, for his expert views and unique perspective on the Binary Options industry, as well as Tradologic’s position in the overall market as trading popularity swells. His full-length interview can be read below.
1. How has Tradologic been able to carve out a niche in the binary options industry?
Since we started TRADOLOGIC in 2008 we have always put the customer first. The product that we are constantly developing gives our clients the best tools to operate their business. You can see from the patents we hold we are at the cutting edge of the development in this industry. We were the first company to diversify into landbased machine binary options trading and also to have a complete bonus system that the brokers can take full advantage of.
2. What makes Tradologic different from other competitors?
The biggest and most evident difference from our competitors is our technology. TRADOLOGIC was voted the winner by our peers for the most recent award for best binary options technology at the 2013 Forex Magnates Summit. This in part is due to us having the biggest development and IT capacity among all competitors. We also employ the brightest in the industry which ensures that our product is constantly evolving to be at the front of the pack. We also have a streamlined integration process that allows our partners to painlessly integrate our product in their already existing systems, you can see with our recent launches of FXTrade Japan, SBO, and Boylesports.
3. What do you feel are some of the biggest mistakes that unsuccessful binary options platform providers make?
I believe a lot of the other platform providers are focused too much on providing unproven features while neglecting the core of the product. Since some may not be able to compete on a product level with us, they chose to create tools that may sound fancy, but at the end of the day they just serve to mask the deficiency of the core product.
4. What advantages do binary options have over normal forex, and will we see binaries popularity grow?
The main advantage is that binary options are a lot easier for the end user to understand. A fixed return in a fixed time for an investment is a lot easier to understand than the varying outcomes that are present in forex. Binary options will undoubtedly grow in popularity with the existing brokers and the end users. I foresee within the next 1-2 years that any brokerage without a binary option product will be seen as one that is lacking in their offering to their clients.
5. Do you feel Binary Options are a form of gambling or are they often misunderstood by the rest of the financial community?
Almost anything we do online that involves money online is a gamble, forex included. They are all just packaged in different ways. With proper knowledge the traders can influence their trades and have a higher percentage of winning than losing trades. Binary options can be used very successfully as a tool that adds to the trader’s portfolio. It can also give him a new way to diversify his investments. At the end of the day, it is up to the trader what he wants to do. If he wants to make uneducated trades on the markets, then yes it is a gamble. If he takes his time to learn and strategize, then it is less of a gamble.
