Are FX Traders Moving into Remote Betting and Gaming?
Today’s FX is edging closer to betting and gaming with the rise of new products such as binary options.

In recent years we have seen foreign exchange (FX) traders move wholesale onto mobile devices, and so too have a significant segment of the UK’s online betting and gaming industry. In 2013, total consumer expenditure in the UK mobile betting and gaming space exceeded £2.5 billion.
With an annual growth rate of 12 percent the industry could exceed £4.4 billion by 2018, according to a Deloitte report. At the same time, FX trading is changing, moving away from the image of complex, often incomprehensible financial investments. Today’s FX is edging closer to betting and gaming with the rise of new products such as binary options. Naturally, this shifting ground will bring up its own issues and challenges from industry regulation to new competitors.
Suggested articles
Why Your Enterprise’s Finances Rely on Employee TrainingGo to article >>
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
The remote betting and gambling industry has already gained some useful insights offering new opportunities. For example, consumers who would never contemplate going to a high street betting shop, bingo hall, casino or arcade will happily play real-money games on a mobile device as a leisure activity. The Deloitte report on remote betting and gambling suggests creating high quality, innovative mobile products while developing strategies to monetize social media presence. This might prove equally good advice for the more visionary FX brokers.
Successful trading of FX has many components such as a trading strategy, understanding of both technical and fundamental analysis, quality and certainty of execution and your broker being aligned with your interests. Sadly Binary Options trading is branded as online FX trading but it is, in fact, online gambling. There is no correlation between Binary Options Trading and CFD or Spread Betting Trading. With Binary Options you stand a better chance of making money calling a coin toss!
Retail FX trading is a form of gambling. So is stock trading. And even the long term holding of assets is gambling.
Everything is a gamble if the results are not guaranteed.