OptionWeb has announced a partnership with French Ligue 1 champions from Paris Saint Germain. The deal is focused on the French market which is a big challenge for any binary options brokerage.
Commenting on the announcement, the CEO of Sports Media Gaming has said: “The French League continues to be an attractive market to binary brokers. From 24option being the first in market with a deal at Olympique Lyonnais in August, deals have followed swiftly by Interactive Option (Nice), Investor Area (St Etienne), EZ Trader (Monaco) and now Option Web with PSG”.
The deal is targeted specifically at the French market and OptionWeb is already using the branding for its local website. Whilst the French league has far less international exposure than the other top leagues in Europe, locally focused deals are resulting in lower costs and higher effectiveness when done right.
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Paris is the most populous city in France and it’s worth pointing out that the OptionWeb brand is also signing a deal with the current occupier of the top spot in the French Ligue 1. The team has been widely acclaimed as one of the most successful soccer clubs in France and is also big on the international scene.
That said, the deal that OptionWeb has signed is also a way for the binary options brokerage to tackle a very challenging market. Due to severe regulatory violations by some entities in the past, binary options in the region have fallen out of favor with local clients.
The local regulator Autorité des Marchés Financiers (AMF) has been frequently on the forefront of a fight against unregulated brokers providing binary options to French residents. Most notably, the French watchdog has also conducted a study which exposed that a number of binary options brokers regulated by CySEC have not been paying winnings to their clients.