TechFinancials Concludes Joint Venture With Optionfortune
TechFinancials concludes the deal that might propel the company's position in the Asia Pacific region to new heights.
TechFinancials (LON:TECH) has confirmed the creation of the joint venture which the company detailed in earlier announcements in October and November last year. The company will be taking part in a major B2C effort run by Optionfortune Trade Limited, which is a Hong Kong registered company.
The partnership will boost the company’s footprint on the lucrative Asian market, where binary options technology providers have been facing increasing competition from local companies that reverse engineer trading platforms.
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Other technology providers in the binary options industry have been relying on partnerships with white labels. However, when a tech provider manages to secure a joint venture, such as is the case with TechFinancials, the synergy between the two becomes tighter and the platform provider may dedicate additional resources to customizing a solution for the specific necessities of a given market.
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With the peculiarities of the Asian market in mind, if the joint venture of TechFinancials succeeds and manages to attract substantial client numbers from the region, the binary options provider’s stock could begin its road to recovery.
Currently the London Alternative Investment Markets (AIM) listed company’s shares are trading at 12.12 pence, which is over 55 per cent lower than the listed price of 27 pence. Since the company became public in March 2015, after an initial rally towards 48 pence per share, the firm’s stock dropped as low as 10.15 pence just before the announcement about the joint venture.
The Asia Pacific region has become something of a holy grail for binary options providers, which are looking to establish their presence beyond Europe. Emerging markets seem to be the right kind of target with relatively unsophisticated investors, however the costs of user acquisition will play a key part in the business of binary options brokers and technology providers aiming at the region.
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Hi Michael,
As you say, it’s a win-win situation for brokers. They get their flaky software tested for free, whilst simultaneously appearing “ostensibly transparent” and responsive to users feature requests.
I’m not so sure it’s win-win for the brokers’ long suffering “dedicated users” however. For more insight into the trials and tribulations of being a dedicated FXCM beta tester you and your readers might like to take a look at my forum post on that very topic:
http://community.trading-gurus.com/threads/22
Cheers,
Jim
They certainly did, and I guess no news is bad news in this business?
Hi Jim, We do appreciate the help you wanted to give “Charlie” on the DailyFX forum, and I do agree that the trader in return was not very appreciative unfortunately. However, all of your suggestions sent to myself have been taken into consideration and the edits to the webpage are in process. While we can get a clue of what traders want by listening to suggestions via email, phone, live chat, forums, etc., we want traders to feel welcome to submit requests and suggestions at any time. FXCM Labs is a formalization of that process. Not every request can be… Read more »
RT RT @forexmagnates: FXCM launches #FXCM Labs http://lnkd.in/BrUX29 << reminds me Oanda labs LOL finally they are copying something usefull
Absence of news is not good?
Even bad news is better than no news at all?