GCI Trading has added the binary option trading to the range of OTC products that it makes available. This additional mode of trading will be offered via the ActTrader ICTS Forex and the CFD Share trading platform. The same will be available in MetaTrader 4 as well. GCI Financial, the mother company of GCI Trading, incidentally, is a primary maker in the forex industry. It was founded 11 years ago by Mitchell Vasquez and it used to offer CFD and currency trading only, at that time. Over the next few years, the company took a similar route to that of ActTrader. The company currently has good amount of business interest as a liquidity provider to the platform. In last year, the overall commercial interest in ActTrader increased, thanks to the large institutional liquidity provider Currenex White Label FC Stone joining as a new client of the same.
Incidentally, Binary option gives the customers a simple betting concept. As a trader, you need to predict whether the currency price will go up or down and based on your selection, you will make profit or lose some cash. The fact is that here, you don’t need to predict, how much the currency will go up or down. With GCI Trading binary option, it is expected that traders can have gains up to 88% for every successful trade. The risk factor is also kind of limited in case of binary options trading.
As the new feature has now been introduced, the traders will get to see a new toolbar named as Binary Option. Now, they can buy an option by making a click on the Binary Options Bets or the Buy Binary Options buttons. There is also another mode of Binary Option trading available via GCT. Users are provided right to receive any fixed sum if the current asset’s value at the expiration date and time is bigger or lower than the strike price. There is involvement of no spreads in this case and no commissions are charged either. The carry costs are also not present in case of Binary Option trading.
With introduction of this new feature, traders will be able to trade from PC, MAC, iPad, Android device or any similar mobile device. The real time prices of all the major currencies will still be provided through the platform, as confirmed by the GCT officials.