One of the most exciting forms of economic trading is binary options.
Both forex and binary options trading are equally competitive especially when there are more and more new brokers entering into the market every year.
Because of this, binary options brokers who want to survive in the industry must take every effort possible to attract more traders to trade with them. The following are a few trends that brokers are using to compete with other competitors and get more people to sign up with them.
- Sports Sponsorships
Many forex and binary options brokers are resorting to sports sponsorships with the leading English football clubs. The reason is to increase their brand image among football fans as they expand their operations in the UK market.
They would form partnership with the leading clubs in the continent to promote their trading services to the people there. This shows that the broker is financially stable and able to afford to make a deal with a prestigious sports club.
- Mobile Trading
More and more brokers are now offering mobile trading for traders because those who do not will left out in the market. Some brokers are restricted to some countries. If you are Australian you should visit the site Binary Options Australia.
Mobile trading enables traders that frequently travel to conveniently use their mobile devices such as phone and tablets to monitor their trades. With mobile trading, you are not limited to the places where you can trade because you can bring your mobile device to any place you want.
On the other hand, desktop trading only allows you to trade in your living room.
- Social Trading
Social trading is getting increasingly popular in forex and binary options trading because of the higher level of access into the market. The main advantage of social trading is that traders can now discuss their trading ideas and strategies with other traders from around the world. You don’t have to invest a lot of money as there are many low deposit binary options brokers.
With the social trading feature, traders can copy the trades of other traders that have high winning rates on the platform. The professional traders have richer experiences in binary trading since they have spent more time practicing trading.
Therefore, copying their trades will help you to significantly reduce your risk of losses even though it is not guaranteed that you will win every time. You can learn a lot of about binary options when you interact with other traders in the trading community.
The social trading platform features live chat which you can use to ping other traders about your question on binary trading and get immediate response. It also integrate a discussion board where you can post a thread and exchanged ideas with other traders.
- Digital Marketing
Forex and binary options brokers are putting a lot of emphasis on digital marketing to make sure their website rank for the desired search terms on the search engine. They outsource their SEM campaigns to SEO companies and hire a professional consultant to perform an audit on their website.
The purpose is to be able to drive organic traffic to the binary options website and attract more potential customers.
Several efforts have been taken to make sure the website is optimized for high conversion rate, for example, making the site’s navigation user friendly and straightforward sign up form. Many binary options brokers run a blog which they frequently updated with new posts that provide various useful tips on binary options trading.
- Marketing Automation
Many forex and binary options brokers have begun to use marketing automation tool to market themselves. For example, they use social marketing automation tool like Hootsuite to easily send the updates to all their social media profiles at the same time. The tool help them to save time while implementing the social media and digital marketing campaign.
- Online Advertising
Online forex and binary options brokers now not only advertise their trading services through Google Adwords but they also attempt to build a good public image in social media platforms such as Facebook ads, Twitter advertising and Instagram.
Email marketing is another effective tool that binary options brokers use to attract new binary options brokers. The subscribers of the binary options email newsletter may also forward the email that you send to their friends and relatives which in turn can help to boost the income.
In conclusion, forex and binary options brokers that want to succeed in the industry must be able to adapt to the competitive environment by executing the latest marketing trends. If no marketing effort is taken, it will be impossible to attract new traders.
Through consistent marketing effort, a new broker that just entered into the industry can quickly gain popularity among traders.