ForexNewsNow sat down with Tradesmarter Chief Trader and Senior Account Manager Jason Forman on Thursday to interview him about regulated forex binary options trading in another installment of “Get to Know a Broker.”
Hey Jason, thanks for meeting with us. Can you tell us a bit about yourself and what do you do at TradeSmarter?
Thank you for the opportunity to chat with you. I have over 10 years of experience in the forex and commodities markets as a technical and macro financial analyst. I am currently the Chief Trader and Senior Account Manager at Tradesmarter.
What would you say makes Tradesmarter stand out from other online binary options brokers?
Tradesmarter is the first binary options trading platform to be fully licensed and regulated by ASIC (Australian Security and Investments Commission) so that makes us stand out from other binary brokers as a more reliable investment firm. Since binary options trading profitability depends on the live feed price and the expiry price of the asset, it’s really important to be trading with a company that is licensed and can guarantee transparent pricing. This is one of the main reasons why it is so important to trade with a regulated entity, we can ensure that our online trading activities are clean and fair. We must uphold specific standards and guarantee transparent pricing.
Also, we keep client funds in a segregated bank account. This is another major advantage of us being regulated, in contrast to many other binary brokers on the market.
Why should investors feel more comfortable entrusting their funds to TradeSmarter?
As a regulated binary options trading platform, Tradesmarter is bound by specific policies and requirements maintained by the Australian financial services. As I stated, client funds are kept in a separate bank account, they are not combined with other company funds, so traders can rest assured their funds are available whenever they need them. This is one of the many guidelines Tradesmarter follows in order to ensure clients are provided with a transparent trading partner.
Which asset is the most heavily traded besides EUR/USD at Tradesmarter?
Lately we have seen a sharp rise in the volume of commodity binary options such as gold futures and crude oil. We see our clients taking advantage of this as the heavily traded assets tend to shift according to global financial events.
What is the approximate breakdown in percentage between traders trading forex, indices, commodities and stocks on TradeSmarter?
I would say that an average of 50% of our clients trade forex binary options in comparison to the rest of the assets we offer. However, we are always surprised by the diversity among our traders, it often depends on what’s going on in the markets.
What’s in store for the future of TradeSmarter?
We are proud of the amazing growth we have achieved in the last 3 years, establishing ourselves as the most liquid, reputable binary options platform. We work very hard in every aspect of the business in order to increase our global presence while maintaining the professional and customer-focused service that brought us here. The binary options industry is exploding and we are here to stay.
What perks does TradeSmarter offer its VIP clients?
Tradesmarter recently introduced its exclusive trading club for VIP clients. Tradesmarter clients who meet certain criteria are now eligible to enjoy the privilege of premium services and advanced trading features. As a member of this elite trading club, clients enjoy a number of of benefits including personal assistance from a dedicated account manager, advanced trading tools, higher trade execution amounts, rewards for large trading volumes and many other things.
How do you think online forex binary trading will change in the next 5 years?
As markets become more and more volatile, we are expecting a continuous increase in the demand for short term financial contracts such as binary options. Global markets are very insecure right now and as a result we see that ‘value investing’ is not as popular as it used to be. There are very few assets which are considered to be ‘safe’ anymore. We can already see this trend developing, people believe more in the short-term gains of online trading rather than holding a position for months.
What would you say to a trader who is debating whether or not to start trading with TradeSmarter?
If the trader is focusing on short term trading, I would tell him he has definitely found a new home. If you look at our innovative trading platform, regulation and professional service, we are definitely distinguished as leaders in this industry.
What does TradeSmarter offer to those new to binary options trading in order to help them start trading profitably and responsibly?
Binary options is one of the most simplified forms of trading. Therefore, many of our clients are novice traders who are new to the financial markets. One of our main areas of focus is educating our clients in order to provide them with the right tools and knowledge to trade successfully. We provide all of our clients with one-on-one training, free educational tutorials and daily market updates. From our experience, this is the most effective way for clients to learn different trading strategies and achieve a better understanding of the financial markets in order to make smarter binary investments.
Thanks for your time Jason.
Thank you too, I appreciate your interest in Tradesmarter.
Tradesmarter is operated by Market Punter Pty Ltd (ABN 86 137 016 490). An authorized representative of Commodity Broking Services Pty Ltd (Australian Financial Service Licence No. 280372). Authorized Representative No. 337740.