ParagonEX binary options platform
ParagonEX, a hi-tech company, develops the binary options trading platform that powers uBinary. Traders can trade forex binary options, stock index options and other types of options easily on this platform. In this article, we will review the binary options platform developed by ParagonEX and discuss its ease of use, visual appearance and notable features which are its main selling points.
The visual appearance of ParagonEX’s platform is what catch our eyes first. Although visual appearance is not important to some traders, most of them believe that a poorly-designed interface will be a nightmare to effective navigations, especially when there are tons of distractions.
The interface is largely the same, although the color scheme will vary, depending on the site you use for trading. You can access essential information for a trade contained in boxes, and many binary options action buttons. It also has a drop-down menu, from which you can change what asset is in each box and see the contract prices prominently displayed. Although there is nothing really innovative about the UI for ParagonEX, its visual appearance is very neat and there will be no useless widgets or distractions that prevents you from trading efficiently.
Ease of Use
Generally, the platform by ParagonEX is easy to use. It is developed for good integration with brokers’ cashier, enabling you to deposit and withdraw funds. It is very quick to put money into your account, and executing a trade through the system does not take very long either.
On ParagonEX’s platform, it is easier to select different assets than on other platforms on the market. You will find this useful when trading Forex binary options and wishing to go back and forth between different currencies to find buying opportunities.
In spite of some concerns with the platform regarding options (this will be explained below), the platform is still relatively good and intuitive for both beginning and experienced traders.
Comparing to other popular binary options platforms, the interface of ParagonEX is still lacking in some advanced features. It does not offer some notable features for option traders, such as One Touch options and rolling forward trades. It does, however, feature a display that shows all of a trader’s open and closed positions at a glance. This feature will be useful when you wish to trade more than one asset at a time throughout the day.
Making up for these lacking is the ease of use of this platform. It is extremely easy to use and also provides a no-frills interface than can be manipulated easily. Because traders can switch back and forth between currencies without any difficulty, trading Forex binary options is now made easier.
Room for Improvement
Overall, ParagonEX’s platform is still lacking in some advanced options and cannot be customized a lot. However, it is helpful in a way that it show you how much money you have at stake in each trade in respective trade window.
The ParagonEX platform is suitable for either beginning and inexperienced traders, or even those who want an easy way to trade binary options online.