iFXEXPO First Day Thoughts

Walking around and manning the Forex Magnates booth at the Cyprus iFXEXPO I learned some interesting things going on.

1)There aren’t any good domains lefts. Exchanging business cards, I got to see a whole slate of creativity new firms are using for their domains. After seeing some of the domains, I wouldn’t be surprised to be given a business card with qwertyforex.com.

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2)People use these events to catch up with their neighbors. While there was plenty of cross country mingling, a lot of participants told me one of the reasons they are attending is to simply see people that work in the same city as them, but everybody is too busy to meet up.

3)Binaries continue to be hot. There are already something like 7 or 8 binary options providers. At the event I met up with several firms that will be launching as new binary options providers, or building proprietary systems for their binary brokerage.

4)There is plenty of innovation. The event featured a few examples where companies are collaborating to launch new offerings. I found this interesting as it shows a u-turn in the industry. What was once the norm for companies to develop technology in-house, has changed with much more software outsourcing taking place.

5)Smart companies are hedging their bets. One of the benefits of the event for attendees is having access to multiple vendors in one location. Quite a few people mentioned that they were happy with their current solutions but were learning about new technologies to decrease their dependence on single companies.

6)To each their own. The liquidity panel featured five different panelists with each having a different view on how to source liquidity. While previous liquidity panels had focused on the client side, and best practices, today’s event featured representatives explain why they are offering the solution they offer.

7)If beer is free, tolerance levels double.  (ugggg, picture didn’t come out well)