Tradologic, a binary options trading platform developer, and Leverate, forex technology solutions provider, announced they are teaming up.
This, according to the press release, will enable Tradologic’s clients who are predominantly binary options brokerages to expand their presence in forex and CFD trading capabilities. It could safely be said that this is a logical step for the serious binary options brokers who would seek means to expand their business, considering the increasingly bad reputation of binary options and the mounting regulatory limitations.
This is confirmed by Kobi Gur, CEO of Leverate who said: “Increasingly we are seeing a convergence in the market as binary option operators are looking to extend their offerings to other trading instruments. Our state-of-the-art software platforms enable them to do that, but also facilitate a competitive excellence.”
On his part, the Tradologic CEO, Michael Golod noted that the partnership would help the company expand and improve its product offering, as well as its revenue and commercial growth.
Bulgaria-based TradoLogic was set up in 2008. It is a provider of trading platforms, as well as variety of other products including many option types, trading tools, advanced features, integration solutions and services. The company has offices in the UK, Cyprus, Israel, Russia, Shanghai, Hong Kong, Singapore, the Philippines, and Japan.
Leverate is a technology provider of forex brokerage solutions based in Cyprus. It has offices in Tel Aviv, Limassol, Hong Kong, Kiev, Shanghai, and Berlin. In August it started seeking to sell its binary options platform BX8 along with clients that use it, but it is not clear what happened.