RoboMarkets, a foreign exchange (forex) broker licensed in Cyprus, has yet again expanded its presence in the sporting world, by announcing that it has become the official partner of BMW M Motorsport for the DTM (Deutsche Tourenwagen Masters).

As part of the agreement, for the upcoming DTM season, Swedish BMW works driver Joel Eriksson will compete to win in the brand new #47 BMW M4 DTM racing car. As he competes, there will be “prominent RoboMarkets brand appearance” the statement said.

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For those who aren’t familiar with the event, the 2019 DTM season consists of 18 races in total and commences on May 4. The tournament will start in Hockenheim, Germany before moving on to other cities in Germany, Belgium, Italy, Netherlands, and the United Kingdom.

Commenting on the sponsorship, Konstantin Rashap, CBO at RoboMarkets: “We’re very proud to become an official partner of BMW M Motorsport, a team with outstanding history and winning traditions.

“RoboMarkets highly appreciates the commitment to excellence and willingness to compete for the best results, and the BMW M Motorsport team represents these values perfectly. Our partnership will enhance RoboMarkets brand awareness in Europe. We wish BMW M Motorsport team success in the new season and the achievement of all goals at each stage of the DTM series.”

RoboMarkets Continues to Use Sports Sponsorships for Branding

Sports sponsorships are a popular way for companies to expand their exposure. This tactic has long been used by FX and CFD brokers, like RoboMarkets. The strategy is also increasingly being used by cryptocurrency firms.

In fact, the CySEC-regulated broker has a suite of sports partnerships. As Finance Magnates reported, the company signed an official partnership agreement with the Lithuanian Basketball Club Žalgiris. Per this agreement, the broker will be an official sponsor of the basketball team in the Lithuanian Basketball League (LKL) during the 2018/2019 season which will commence in September this year.