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Binary Brokers Rush to Add FX Platforms. Is FX a Viable Replacement?

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asked Apr 11 in Binary Options by Nea (3,570 points)

1 Answer

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answered Apr 11 by Anna (4,610 points)

Yes, binary options and forex contracts are completely different financial instruments – nevertheless, the business operations in these fields are almost identical. As a straightforward example, any Binary broker is supposed to run sales, retention, marketing and financial departments. These departments are also operated in a similar way within a forex business.

The similarity between forex and binary options brokers is also evident in the technology stack. In both cases, CRM, trading platforms, marketing platforms, email automation tools, etc are needed. The same service providers are used in both types of operations, like PSP and VOIP, etc. This all causes a shift of global interests for many binary brokers who seek to migrate their businesses to more stable and predictable forex vertical.

commented Apr 11 by Nea (3,570 points)
That's interesting. Thank you!

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