State your name, company name and position please:
Oren Laurent, CEO and founder of Banc De Binary
Describe your company with three words:
Making Trading Simple
Please go into detail about the Company, its market segment and recent developments:
I really wanted to change the way the system worked, my vision was to make trading as accessible as possible to everybody, not just experienced traders. I knew that the simplicity of binary options, which allow investors to place trades simply by predicting whether the price of an asset will go up or down, would change the nature of investing forever.
I started Banc De Binary in January 2009 with three other brokers who wanted to make a difference. By June 2011 the company had already doubled its goal of 10,000 client accounts and has continued growing exponentially ever since.
What specifically do you offer the retail traders?
Banc De Binary provides the platform and support for investors to trade binary options on underlying assets. Binary options offer a new way of investing that simplifies the trading of currencies, commodities, company shares and the major world indices. We have taken all the complexity out of traditional trading, and added a degree of certainty. Let me explain: unlike traditional trading, in binary options a trader only has to correctly predict the direction the price of an asset will move over a given time period, but not the degree of the change. We’ve boiled the financial markets down to a simple choice between two possibilities: Will the price of an asset go “up” or “down”.
The certainty I referred to is the return on investment. With binary options, traders know precisely how much they stand to profit from a successful investment before entering a trade. In successful trades, returns average between 60 and 80 percent – most commonly around the 72 – 75 percent mark – and sometimes as high as 500 percent. In unsuccessful trades, the investor knows exactly how much the loss will be, it is not magnified by leverage or margin. The simplicity, transparency and game-changing approach of Banc De Binary have made us the leader in binary options trading.
Why should retail traders choose your company instead of others?
We are one of the few standalone binary options brokerages that is licensed under financial instruments laws in the EU. Our position as the leader in the binary options industry is now well established. Our Account Managers are by far the best in the business. Our entire business has been structured around the customer, especially in the departments that deal with clients on a daily basis. The customer service and account management teams offer our clients at Banc De Binary as user-friendly and transparent an experience as possible. It’s this ethos that sets us apart and has enabled us to win awards for Best Broker, Best Customer Service, Best Platform, Best Security and back-to-back World Finance 100 awards.
What are your present issues and challenges and what is your plan to steer the company through them successfully?
Handling our current rate of growth and managing it for the long term is a big challenge, but I believe in our management team’s experience and vision. Since binary options is at the beginning of its history, regulatory challenges are also appearing, with different jurisdictional challenges. This has always been the case for any new industry. I always advocated regulation for the binary options industry, it’s safer for the investment companies and for investors.
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As industry is well known to be highly competitive, what means do you use to survive and to excel in such a fast and sometimes harsh environment (except for collaboration with Forex Magnates Directory of course ;)?
We are the experts in binary options, and offer all the support and education a trader could ever need. Although the actual trades are simple to execute, the background to the trader’s decision is more complex and has to be based on an educated prediction. This is always our edge, we offer unparalleled trading tools, like third-party trading signals, news, analysis, and much more.
Customer service and innovation are at the heart of what we do at Banc De Binary.
Does your company focus on the domestic market or does it have a global presence?
Banc De Binary holds the honour of being the first binary options brokerage to be licensed by a European regulatory body and we operate in all 27 EU countries.
What is your company’s plan for the next two years? Please detail any expansions, technological developments, mergers/acqusitions or proposed entries into new markets.
We are currently reviewing and finalizing the content and curriculum for an online ‘trading university’ that we plan to launch early next year. It’s going to be an amazing resource for our clients, regardless of their trading experience. We’ll be offering live webinars with expert traders, training videos and all sorts of tips on technical and fundamental analysis of the financial markets. It’s going to be fantastic.
Is branding important, and what is your corporate view on it?
Of course brand recognition is important, but at Banc De Binary we focus on servicing our clients’ needs, because word of mouth is really the best way to get your name out there. Holding yourself to very high standards beats a clever advertising campaign any day.
What is your predictions for the coming years of the Binary Options industry as a whole?
The growth of the binary options industry to date has been remarkable and it is set to continue. If the early signs are anything to go by, binary options will be a strong alternative to online Forex by 2020.
What innovations could the industry as a whole benefit from?
The most important one is regulation. Like I said, Banc De Binary was the first binary option brokerage to be regulated in Europe. Regulation is absolutely crucial when it comes to safeguarding client deposits and ensuring that all organisations operate within an ethical framework. A clear understanding of how a binary option is a financial instrument is another innovation, and at Banc De Binary, we work very hard to educate our traders, many of which come from Forex, to understand how to trade digital options.
Are you using social media channels to create greater exposure and increase trader lifespan?
Our target demographic is very internet savvy, so yes, we connect with our clients daily via both Facebook and Twitter. We also bring them the latest market trends and news through our blog and media sites, in addition to the essential services we provide through our trading platform. We are also starting to develop our offline presence and brand awareness through traditional media, charitable works and corporate responsibility projects as the company continues to grow.