The decision of brokers to venture into the unregulated crypto-world may have backfired big time.
Yesterday’s official announcement from Google that it is preparing to ban the advertisement of Forex and CFDs along with ICOs was a big surprise for the industry. The rise of the ICO was a phenomenon closely watched by many over the past several quarters. The more that cryptocurrency became popular, the more hollow projects were seeking funding, eventually warranting a stop to it all. No surprise here.
But why did forex and CFDs brokers end up together with Cryptocurrencies and ICOs? Well, while most of the industry is in shock that this happened, the connection is rather obvious: forex and CFDs brokers went all-in on cryptocurrencies.
Google’s Play on Affiliates: a Testament to the Reasoning of the Ban
After binary options ceased to be the hottest business for affiliates, they started switching to cryptocurrencies. The most sought-after term on Google related to finance during the second half of 2017 was Bitcoin. The craze took over CNBC and Bloomberg in the fourth quarter of the year and personalities from the industry were appearing left and right.
The job of affiliate marketers is to identify such trends and convert traffic to brokers. And the fourth quarter of the year was great for traffic for all affiliates that switched to crypto. It was horrible for the brokers - they were decimated by a one-sided market unseen in this industry, but affiliates were celebrating as they got paid for the traffic.
Brokers were getting new clients but were not making any money from them. It all came to a point when affiliates were no longer welcome to send crypto traffic to brokers. That, of course, changed when prices changed direction and started chopping away at HODL-ers. Brokers were happy, the offerings of cryptocurrency trading resumed and crypto-traffic was welcome again.
Google is Only Reacting
I remember starting to watch a video on Youtube, which started with an advertisement from DASH. This is when I thought, that this is the end of it all. You know a good product when you don’t need advertising for it to be successful, right?
Well, unfortunately for brokers and the crypto-industry, the most aggressive players in the market, looking to make a quick buck, have attracted the attention of the regulators. The phenomenon of cryptocurrency has become associated with words like 'fraud', 'Ponzi', 'boiler room', and my personal favorite: 'pump and dump'.
You can’t expect the SEC to look away when you openly use pump and dump tactics and boast about it. (Hello, John McAfee!)
Is the Ban Related to Regulators?
Google and Facebook might both be reacting to the SEC’s decision to flip the switch on crypto, and in all fairness, they probably don’t have much choice. As was reported by the FT last night, European regulators are considering a digital tax for companies that are working in the space.
Since EU financial regulators have a problem with forex and CFDs, Google’s action will only score it points as it will certainly facilitate the cleanup of the industry whose design is being finalized by ESMA as we speak.
It would not be surprising if when approving brokers for advertising, Google presents a condition that ensures that the company is not providing cryptocurrency trading. At least, if the dominant search engine in the world asks for it, we will certainly know that the ban is indeed a giant backfire for the industry, resulting from the decision to offer cryptocurrency CFDs.
Yesterday’s official announcement from Google that it is preparing to ban the advertisement of Forex and CFDs along with ICOs was a big surprise for the industry. The rise of the ICO was a phenomenon closely watched by many over the past several quarters. The more that cryptocurrency became popular, the more hollow projects were seeking funding, eventually warranting a stop to it all. No surprise here.
But why did forex and CFDs brokers end up together with Cryptocurrencies and ICOs? Well, while most of the industry is in shock that this happened, the connection is rather obvious: forex and CFDs brokers went all-in on cryptocurrencies.
Google’s Play on Affiliates: a Testament to the Reasoning of the Ban
After binary options ceased to be the hottest business for affiliates, they started switching to cryptocurrencies. The most sought-after term on Google related to finance during the second half of 2017 was Bitcoin. The craze took over CNBC and Bloomberg in the fourth quarter of the year and personalities from the industry were appearing left and right.
The job of affiliate marketers is to identify such trends and convert traffic to brokers. And the fourth quarter of the year was great for traffic for all affiliates that switched to crypto. It was horrible for the brokers - they were decimated by a one-sided market unseen in this industry, but affiliates were celebrating as they got paid for the traffic.
Brokers were getting new clients but were not making any money from them. It all came to a point when affiliates were no longer welcome to send crypto traffic to brokers. That, of course, changed when prices changed direction and started chopping away at HODL-ers. Brokers were happy, the offerings of cryptocurrency trading resumed and crypto-traffic was welcome again.
Google is Only Reacting
I remember starting to watch a video on Youtube, which started with an advertisement from DASH. This is when I thought, that this is the end of it all. You know a good product when you don’t need advertising for it to be successful, right?
Well, unfortunately for brokers and the crypto-industry, the most aggressive players in the market, looking to make a quick buck, have attracted the attention of the regulators. The phenomenon of cryptocurrency has become associated with words like 'fraud', 'Ponzi', 'boiler room', and my personal favorite: 'pump and dump'.
You can’t expect the SEC to look away when you openly use pump and dump tactics and boast about it. (Hello, John McAfee!)
Is the Ban Related to Regulators?
Google and Facebook might both be reacting to the SEC’s decision to flip the switch on crypto, and in all fairness, they probably don’t have much choice. As was reported by the FT last night, European regulators are considering a digital tax for companies that are working in the space.
Since EU financial regulators have a problem with forex and CFDs, Google’s action will only score it points as it will certainly facilitate the cleanup of the industry whose design is being finalized by ESMA as we speak.
It would not be surprising if when approving brokers for advertising, Google presents a condition that ensures that the company is not providing cryptocurrency trading. At least, if the dominant search engine in the world asks for it, we will certainly know that the ban is indeed a giant backfire for the industry, resulting from the decision to offer cryptocurrency CFDs.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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