Tradologic Binary Options Platform
Cedar Finance, OptionBit and several other binary trading websites are currently powered by Tradologic. This is a binary options platform that enables option traders to trade binary options in stock, currencies, indices, commodities and various individual stocks around the world. In this review, we will take a look into Tradologic and examine its platform’s visual appearance, ease of use as well as other notable features that help it power Cedar Finance and other licensee websites.
The visual appearance on Tradologic platform is rather similar to that of the platforms from other binary options on the market. There are 4 default trading boxes, presented in either box or list style, along with forex binary options or other types that can be chosen through a dropdown menu. In each box are 2 action buttons: ‘Call’ and ‘Put’. You use these buttons to choose whether you think the price of the asset will rise or fall by the expiry times.
The broker also gives you the rate it offers as well as a chart with your asset that allows you to see at a quick look both the prices and the return you can expect if your trade becomes successful. On the top of the user interface there is also a scrolling ticker for selecting assets.
Ease of Use
Based on the appearance of its platform, Tradologic was meant for simplifying binary options trading. Traders don’t need to click through a lot of process and other distractions in order to trade binary options on this platform. All you have to do is choose the method: Digital, Rage or Touch; then click on the action button for your asset.
It is not very difficult to deposit funds either. You still need to do that on another page aside from the main trading page, however. Some traders also find it annoying to not be able to see their balance at a glance.
Tradologic Binary Options Platform Features
Offering various methods to trade binary options is perhaps one of the most notable features of this platform. Traders are provided with 4 different asset categories as mentioned above, together with 3 different trading methods. For instance, you can choose to trade forex binary options using Digital method, which is the standard method to predict whether the price of an asset will be higher or lower than a given rate by the expiry time.
Touch is a method that is popular among option traders because in order to win, the asset just need to reach a given price by the expiry time. The last method, Range, is considered the most difficult one to use, as traders need to predict an asset getting into a certain range of prices by the expiry time. For instance, forex binary options need to have the USD/JYP pair reaching between 87,000 and 88,000 by the expiry.
Room for Improvement
There is still room for improvement, especially in the user interface. It is still lacking in information on the main page other than current trading news or trading date. Traders cannot see their balance at a quick look, or keep track of all of their open trades either. It is simple to trade on Tradologic, but some additional elements are needed to make it more user-friendly.