Today we share more interesting insights about binary options trading from the latest issue of the Finance Magnates Intelligence Report, critical for doing business in the Middle East and North Africa (MENA) region. Data regarding the deposit and withdrawal patterns of traders shows some great divergence by country.
With regard to first time deposits we can see that the traders in the region broadly cluster around the same levels. New clients from Jordan, Kuwait, Lebanon and Qatar all deposit an average of $250 to open an account. In the Gulf, United Arab Emirates (UAE), Saudi Arabia and Bahrain, the figure is around $290. Only Turkey stands out of the crowd with an average of over $384 per first time binary options deposit.
Looking at withdrawal figures the picture we get is very different. At above $1688, binary options traders in the United Arab Emirates withdraw over eight times more money than those in Kuwait with an average of less than $205. Saudi Arabia comes in second in the withdrawal ranking with an average over $1416, and Qatar is in third place with less than half of that, $654. The rest of the region follows with figures between $250 to $550. A possible explanation for the difference is that traders in the rich Gulf area can deposit more after they open an account and eventually cash out with a bigger payout.
Working for you
This is the latest publication from the FM Indices – a new cross-industry benchmark created with a methodological formula that matriculates data from three main sources: insider information, our unique database and technological BI tools.
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In today’s business world, big-data analysis and access to objective information sources are crucial to success. Unfortunately, until now it has been very difficult and costly, if possible at all, to find any reliable benchmarks for operations in social, FX, binary options and CFDs trading.
For this reason, the Finance Magnates Intelligence Department has launched a new project, creating a set of indices encompassing various aspects of the online trading industry. These indices will provide you with unique data points gathered by our analysts that will serve as a valuable knowledge base for your decision making.
All the figures presented in this report were created by using data from the 3rd quarter of 2016.
The research and analysis work conducted for preparing this index was powered by the retention automation firm Cpattern.
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