• Category: Brokers

24option Integrates MT4 Platform after Leaving TechFinancials

Leading binary options trading company, 24option has integrated its in-house trading platform into its offering.

24option Integrates MT4 Platform after Leaving TechFinancials

Less than three months ago, 24option, a leader in the online trading industry, launched its own trading platform where users could trade contracts for difference (CFDs) and foreign exchange.

Following this historic launch, the brokerage firm is now implementing a new platform, MetaTrader4 (MT4), into its trade offering for customers.

Previously, the binary options brokerage took steps to widen its offers to include CFD and forex trading. Last year November, the company, which is operated by Rodeler Ltd., was the foremost firm in the industry to deploy its proprietary technology to widen its asset offering to traders.

Presently, 24option offers trading services in Europe and it is licensed as a Cyprus Investment Firm under the Cyrus Securities and Exchange Commission (CySEC).

Cater to growing clientele

By adding the MT4 trading platform to its offering, the brokerage will be able to meet the needs of its growing client base with respect to its CFD and FX services.

This approach is vital in bringing in new customers especially those who are looking for greater diversity beyond basic binary options.

Currently, MT4 is the most widely used platform in the online trading industry. It will be helpful in aiding 24option in offering advanced charting and real time trade execution in line with the functionalities already available.

Earlier, TechFinancials, a leading trading technology provider listed with AIM decided to temporarily stop paying 24option dividends after the brokerage firm opted to leave TechFinancials.

24option is TechFinancials’ biggest trading software licensee.

TechFinancials told stockholders that 24option had informed the software provider of its decision to move its trading activity to a new in-house system as of 1 April 2017.

In a statement, TechFinancials said, “The company is discussing with Richfield [24option owner] to facilitate a smooth migration of trading activity to an in-house system throughout the year. The Group may provide future services.”

Adverse effects

Although TechFinancials asserted that the ending of the relationship with 24option will not have a significant impact on the company’s Q1 2017 financial performance, it said that it anticipated adverse effect for the rest of the year.

As such, TechFinancials deferred a decision to pay dividends until there is a clear assessment of the financial impact of 24option’s departure.

TechFinancials, which has established itself as the leading provider of financial technology and trading services says that a diversification strategy underway would help the firm to grow and cope with the impacts of losing a big client such as 24option.

Undoubtedly, 24option is the largest earner for TechFinancials even though the technology provider has been largely successful in bringing in new customers over the years.

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