To be an honest STP trading platform
We Are Not Options Trading
We are concerned about the recent discussions in the media which discussed that binary options are gambling. Many new and old traders may be confused by such discussions, and also want to know what kind of trading system used on the BTCDana and ForexDana platforms. I will take this opportunity to explain:
First, our Trading System
The trading provided by BTCDana and its sub-brand ForexDana is NOT binary options, but a straight-through trading system called STP (Straight Through Processing). That is, we send all the trading orders of customers to major international exchanges and dealers to realize the transaction. All our price quotes come from dozens of world-renowned investment banks and exchanges, such as Goldman Sachs, Citibank, and Coinbase. We put their offers together to give our clients the best offer possible. Therefore, we will not and have no way to manipulate the quotation. Recently, we are solving the problem with regards to the display of buying and selling price raised by the customer. I would like to apologize again for the misunderstanding this issue caused to the customer.
Second, the difference between us and Options Trading
Our trading does not have the same time-based closing restrictions as binary options. Market fluctuations are normal. You can choose to close your positions at any time, and the transaction is open. If you see a trend, make sure that the funds in the account can cover the loss (within logical scope). Even if you lose temporarily, you can hold the position and wait until it is profit and close the position. Of course, we also encourage customers to control their risks and stop losses in time. Unlike binary trading, you don't lose all of your bet money when your trade ends up in loss.
We charge admin fee because all our revenue comes from admin fees. We have been optimizing our costs and gave our customers greater discounts. Our method of affiliation is carried out where the referrer gets a commission based on lots traded, not based on profit or loss. We wish for our clients to be profitable, which will result in more trades as it is the best-case scenario for us.
In 2022, the BTCDana team will make every effort to provide customers with trading tools to help customers trade successfully and provide the best deposit and withdrawal services. If you have any questions, you can get our help through feedback and online customer service.
Good luck with your trading in 2022!
Asia Pacific Operations Director
Kelvin Sing
28th January 2022