IC Markets, a popular contracts for differences (CFDs) broker, has renewed its partnership with World Table Tennis, extending it for the new series calendar through 2025. The partnership was initially established last year, with the broker gaining the status of World Table Tennis’ “Official Trading Partner.”
A Renewed Deal
The renewed agreement commenced yesterday (Wednesday) with the start of the WTT Finals Fukuoka 2024. Strategically placed IC Markets branding will feature across tournaments in Asia, Europe, and Africa.
“IC Markets has been an integral partner in our journey since 2023, and we're delighted to strengthen this relationship further,” said Blythe Fitzwiliam, Commercial Partnerships Director at World Table Tennis.
Although IC Markets is headquartered in Australia, the sponsorship deal was signed under its Seychelles-registered entity. Notably, the broker’s Cyprus-regulated entity was recently penalised for non-compliance.
Brokers and Sports Sponsorships
Sports sponsorships are a preferred marketing strategy for retail brokers, particularly in the CFDs sector. Most brokers sponsor football and motor racing teams because of their global exposure. However, these sponsorships can be very costly, often reaching double-digit millions of dollars for well-known teams.
IC Markets is also recognised for significant spending in the sports sector. It invested €10 million in 2020 to promote its brand as a sleeve sponsor of Italian football giant Inter Milan. A year later, the broker shifted its marketing strategy and partnered with a dozen football clubs in Spain and Germany. eToro is another broker known for extensive sports sponsorships, with more than two dozen active deals at one point.
Unlike football, table tennis is a niche sport, although it is highly popular in certain Asian countries. According to Play Today, 350 million unique viewers in China watched table tennis during the Tokyo 2020 Olympics.
World Table Tennis also boasts a strong social media presence. On Instagram, it has 721,000 followers, while its Facebook reach stands at 1.6 million followers. The official World Table Tennis YouTube channel is followed by 1.08 million subscribers.
