The future is looking rosy for the binaries market says Tradologic Head of Sales and Marketing Slavena Savcheva
The market appetite for binaries continues to grow, can we expect to see a slowdown any time soon?
After several years of exponential growth of the binary market in Europe it’s only natural to see the growth cool down to a stable pace. The market is much more mature now, regulation has been set in place, not to mention how much marketing strategies have evolved. However, while this is true in Europe there are still plenty of other geographical regions where the industry hasn’t realised its full potential.
As an example, we’ve been focusing on China and Southeast Asia for the past couple of years. Binary trading has really picked up there lately, with a few big brokers setting the trends.
Does a company like Tradologic compare itself to equivalent companies in more traditional betting sectors? Or are there few similarities?
While I don’t think binary trading itself can compare to casino games, there are certainly some resemblances with sports betting. The white-labelling business model that we run works in a very similar way to traditional gaming technology providers and aggregators. We aim to provide a turnkey solution and be a “one stop shop” instead of being a pure platform provider.
At this point we have the manpower and knowledge to help fill any gaps in our clients’ operations, including marketing and sales. Ultimately, that lets our partners focus on their core competences.
In your opinion how has the binaries market evolved since you joined the industry?
I joined Tradologic a couple of years ago and I am still amazed by how dynamic this industry is. As far as the regulatory environment goes, binary options are already recognised by several of the strictest financial regulators, such as CySEC, JFSA in Japan, and CFTC in the USA which added a great deal of credibility to the whole industry. In addition, the marketing tools and techniques that operators and affiliates are adopting have become more and more sophisticated and creative, and targeting is much more precise. The usage of automated trading software continues to grow, which itself creates the need of very advanced and refined algorithms and stable technology.
Would Tradologic describe itself as an innovative company? Is the financial betting industry one that relies on innovation?
Several years ago we were the pioneers in this industry and we did rely a lot on innovation. Digital options trading the way we know it now was innovative itself and we played a big part in shaping it. Now we already have a lot of data to play with, we put a substantial amount of effort into analysing it, in order to optimise and improve our existing products and to bring real value to our clients, both on the back-end and with user experience. We are not trying to be innovative solely for the sake of innovation.
What are the current issues in the industry that a company like Tradologic is trying to solve?
Cyber security has been a hot topic for a while. For a technology company like ours it is a top priority and we invest a lot of resources into making sure our partners and their clients' information is protected at all times. We take pride in our IT infrastructure, extensive monitoring and compliance system.
Is binary trading expanding globally? Are there any countries or regions that we should expect to see boom in the next 12 months?
Yes, certainly. We've just finished a pilot with Cantor Exchange, a local binary options exchange in the USA. We continue pushing our expansion in Asia. We are in the process of concluding a couple of major deals in Latin America which I am positive will help us finally break into this challenging market. Africa is worth mentioning too as the interest there is surprisingly high and there is little competition.
What developments are you expecting at Tradologic in the next 12 months?
For starters we will increase mobile trading capabilities with our brand new iOS and Android apps, which we expect to quickly surpass desktop trading in Asia. A year from now we expect 80% of the whole trade volume to be done on mobile devices. Another large-scale and very promising project for us is our partnership with Cantor Exchange to tap the lucrative US market where traditional binary games are illegal. Meanwhile, we keep working on new tools and tweaks for our partners to optimise and automate the conversion and retention of players and to increase their lifetime value.
Slavena Savcheva joined Tradologic two years ago as a business development manager. Fluent in English and Chinese, with extensive background in online financial trading, she was responsible for the Asian market. Recently she was promoted to head of sales and marketing