Growing a Business: From Binary Options to Legalized Marijuana
The business of trading is constantly changing, evolving and we must change with it if we want to stay ahead of others. Adaptability is the key to evolution and information has always been a key to adaptability. Knowing things will give you an edge so why not take a few minutes to read the latest developments in the binary options industry.
Insights From TechFinancials
As many of you know, the company is one of the biggest platform developers in the binary options industry, but also, it’s a publicly listed company. This means they are required to reveal information about the financial performance of the company. The numbers show that TechFinancials is thriving and that in 2014 (most recent year we have info about) business is better than ever: 108.6% is how much the number of active customers has increased and the total number of trades placed through its brands (brokers that use TechFinancials binary options platform) is up 183% compared to the year 2013. On top of all this, the numbers of brokers using their platform has reached 48 in 2014, a hefty increase from the previous year when they had 36.
So, business is booming according to the numbers, but the company admits that some risks are present. The main problem they see is the fact that most of their income is generated by a single client. Guess who that is? Yup, 24Option! But 24Option have started to develop binary options software, probably with the intent to put together their own platform and this could mean that in the long run TechFinancials will lose their biggest client. Well, I am sure they’ll think of something in the meantime and I am not so sure that 24Option will quit using the platform that made them so successful.
Marijuana and Digital Currency – Fun or Run?
According to the Pennsylvania Department of Banking and Securities, in 2015 the biggest threats to investors are binary options, investments in marijuana industry (the legal one), virtual currency and cyber security risks. Christina Kotsalos, director of investor education at the Department of Banking and Securities said that investors may be going into these fields without knowing enough about them. This has been the latest “trend” among binary options traders and we at thatsucks.com have warned many times about this issue. First a thorough education process must be conducted and only afterwards you should reach for your pocket to invest. Unfortunately, many binary options brokers present their employees as versed professionals and urge investors to let those so called professionals trade their funds. The result has been often seen in the form of user complaints and angry “My account is GONE!” statements. Other risks associated with binary options are illegal promotion, refusals of payment and identity theft. Marijuana and digital currency hold risks just as other securities and investors should become familiar with the industry before deciding to put their money on the line.
Since late 2012 the online trading environment got a “facelift” with the addition of mobile trading. For the first time you could access your trading account from anywhere, using special apps made available by your broker on tablet and smartphones. This opened new opportunities and gave the traders more control over their accounts: want to see how your portfolio is developing while drinking a coffee with friends? No problem, just pull out your smartphone. On the road, with no laptop? Just trade from your tablet. Although trading became more accessible, some limitations appeared as opening and modifying a forex or futures order was tedious on a small screen and this made more people turn to binary options, mainly for their ease of use and suitability for mobile trading. The leading binary options brokers recognized this opportunity and that’s why today we see so many free apps for both IOS and Android phones, available to download for free.
Binary Options and MT4: Bromance in the Broctagon
Have you ever felt you needed more tools to analyze price movement and better charts? The wait is almost over thanks to Broctagon. The obvious question is “Who is Broctagon?”. To put it simply they are a one-stop shop for binary options brokers, providing liquidity, payment processing, licensing and more importantly, Meta Trader 4 integration for binary options. They have set their standards high, aiming to become the Number 1 global provider of binary options solutions. Their firm belief is that the binary options industry needs an overhaul and this will be accomplished by fusing binaries into the Meta Trader 4 platform. Combining the simplicity of binary options with the advanced tools offered by Meta Trader 4 might be the next logical step for the industry and one that will bring more traders from the Forex sector into binaries. Their initial focus is on the Asian markets but the rest of the globe will soon follow and only time will tell if this is a prolific endeavor.
That sums up our business updates on the latest binary options developments and things to keep an eye on. Until next time, take care and keep your money safe!