In an effort to simplify trading, Windsor Brokers Ltd, the Cyprus-based FX provider, has announced the launch of a new Trading Platform named GWAZY.
The tradable products on the new platform function in a unique way, according to persons close to the company, and are a cross between binary options and spot fx & CFD's - yet have fewer components of each when compared to the way such products are normally traded on traditional related platforms.
On GWAZY, trades are calculated based on a midpoint average of the spread, but do not incur any costs unless the target or risk levels are achieved at which time the customer's account is either credited (a profit) or debited (a loss) based on the degree of percentage return, and amount invested (which affect the cost of the trade, if reached).
In lieu of an expiration date, open positions that have neither reached the target level nor risk level (i.e. still open) are automatically closed at the end of day at a specified closing time per instrument, and depending on a summer or winter schedule.
End of Day Expiry
By replacing typical expiry dates - which normally vary across option strike prices - with a unified end of day expiry across all instruments (end of day closing time varies per instrument), the trade planning and selection process become simplified, while keeping the binary aspect of fixed risk vs. reward in place (without the dimension of time decay, or in and out of the money calculations and premiums). In addition, only the current spot rate is available to trade. When combined, these aspects altogether make for a simplified trading process.
There are currently 9 instruments available for trade selection, and include six USD-based pairs against the AUD, CAD, CHF, EUR, GBP and JPY, and three CFD style products including crude oil, gold and the Dow Jones index. Once the instrument and direction are chosen, the return percentage (which includes 25%, 50%, 100% and 200%) must be selected as well as the investment amount (in $10 increments, reaching up to $200 total), which when computed together will derive the target return (e.g. a $10 investment with a return 200% = $20 target payout). A sample screen-shot of the demo platform can be seen below:
GWAZY platform Screen-shot of Demo account
Positioned for Beginner Traders
While the over-simplified platform may be less sophisticated than what highly experienced traders look for in an options style product, it is instead geared towards beginner traders and those with less know-how when it comes to the complexities of options trading, as well as the steps involved in OTC spot Forex , including calculating risk-reward with stop-loss and limit levels. However, hints of a future upgrade or more complex version appear in some of the company referenced text and may draw parallels with Windsor Brokers' existing options offering, including the Windsor Classic, Option Builder, 60 Sec and Open Platform selections.
The launch of GWAZY broadens the company's existing spot Forex and CFD offering, and an already diverse binary options offering, by introducing a new way of trading some of the existing asset classes it already offers.
Mr. Johny Abuaitah CEO, Windsor Brokers Ltd.
Commenting on the corporate announcement regarding GWAZY from the Limassol-based company, Johny Abuaitah, CEO of Windsor Brokers Ltd. said,“This year marks Windsor’s 25th Anniversary. We are known for who we are and what we do, and that is why we have a prominent presence in the financial markets. Through our knowledge and experience, we took up the challenge and introduced an ultra-modern trading platform with an innovative method of online trading. GWAZY combines a new way of trading with the best of the best platform features and outstanding tools for traders."
The website Gwazy.com has been created to host the new web platform, and information about its usage and functions can be found there.
