Finally, some good news for the binary industry after its recent track record seeing it come under fire from several financial authorities on a worldwide scale. The binary options investment firm Novox Capital has just received CySEC’s permission to go forward with their new product; a peer-to-peer trading platform for binary options.
The company submitted an application for approval from the Cypriot regulator almost a year ago when it had revealed that it was working on the new product together with its software provider Tradologic.
This innovative new model of trading will provide traders with a peer-to-peer platform on which traders will execute trades against each other rather than against the broker, as is the norm with traditional binary providers. However, Novox Capital’s management has insisted that the implementation of this new venue does not mean that it will be allowed to operate as an exchange or MTF.
The dedicated team behind the platform are convinced that it will turn out better ratios for the winning traders and also lessen the chances of disputes between broker and traders.
The Tradologic platform offers numerous assets including currencies, futures, indices, commodities and stocks. Tradologic CEO Michael Golod, shared his enthusiasm about the product as the next step in digital options trading and was also pleased to see the EU regulator on their side. “I’m positive that we will witness a massive growth in trade volumes over the next few months and we’ll see our hard work pay off,” he went on to say in an official statement.