Binary options broker 24Option is integrating the MetaTrader 4 (MT4) trading platform to its offering. The broker’s clients can use the MT4 to trade in forex and contracts for difference (CFDs) now, but not with their existing 24Option login details.
However, the broker is currently working on enabling clients to directly connect to the MT4 with their existing contacts, a company customer service staff told a SMN Weekly employee in a chat conversation.
“You can open trades on our CFD platform with analysis you make on MT4, from what I understand this is how traders have been doing it. So we are trying to add this feature as well,” 24Option’s representative said, adding that traders can use MT4 with combination with 24Option’s platform.
Direct trading in forex and CFDs is available only via the broker’s own proprietary platform, which it launched about three months ago. With the move, the broker diversified its offering to include non-binary option instruments. With the addition of MT4, the broker is further strengthening its position in the forex and CFDs segments.
Earlier this week, Binary options platform operator TechFinancials said it has lost 24Option as a client as the broker is migrating its trading activity to an in-house system. The broker is the largest customer of the fintech.
24Option is a brand of Rodeler Ltd., an entity licensed by the Cyprus Securities and Exchange Commission (CySEC) to provide investment and ancillary services. The company also operates several other forex and binary option websites, including www.24fx.com, www.grandoption.com, and www.quickoption.com.