Africa’s first online binary options exchange has been launched. Called Justrade.com, the exchange is licensed to the Bond Exchange of South Africa, based in Johannesburg.
The exchange has two interfaces: Justrade, aimed at individuals, and Protrade, for skilled traders. Customers may use both interfaces.
The Justrade interface sets up a contract in the form of a question – for example, ‘will gold fix above $900 on Friday?’ The customer replies yes or no.
Protrade, on the other hand, is a standard bid-offer interface.
Customers can decide what odds they trade at, but strike prices are fixed by the exchange.
Rory Mackay, a director and co-founder of Market Tech, the company behind Justrade in Johannesburg, said the exchange would allow people to get involved in financial markets who had not been able to do so...