Is it Worthy? IronFX Pays Nearly 3 Million Euros to Sponsor FC Barcelona
- The Cypriot firm has agreed to pay a sum of nearly three million Euros for a sponsorship deal with The Spanish football club FC Barcelona so that the broker could use the club's image its advertising.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that Cypriot broker, IronFX has agreed to pay nearly three million euros for a sponsorship deal with the Spanish football club, FC Barcelona, so that the broker can use the club's and players' images in its advertises anywhere in the world, other than in Spain.
Sports club sponsorships are usually a very expensive deal and thus serve as a way for companies to show potential clients that they are well established in their markets and must earn enough in order to spend on such arrangements. However, such very high costs are hard to explain when the primary focus of advertisers in the FX industry right now is to lower the costs of client Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term via targeted online campaigns and signing on successful Introducing Brokers.
Being associated with a worldwide respected image such as that of FC Barcelona can definitely be a major boost to any brand, but only time will tell if such a mass marketing approach would ever actually be beneficial enough to cover the costs and not just become a net loss for IronFX.
Javier Faus Santasusana, Senior Vice President, FC Barcelona and Markos Kashiouris, CEO Iron FX
Other examples for FX brokerages that sponsor sports team are, Alpari which signed a 3-year deal with West Ham United in 2011, GAIN Capital’s sponsorship of Manchester City, and FXTCR partnership with Galatasaray Sports Club to Launch GS Forex. Notable examples besides football are Saxo Bank and FxPro that sponsor Formula 1 car racing teams. Forex Magnates reviewed the practice of sport's sponsorships last year.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that Cypriot broker, IronFX has agreed to pay nearly three million euros for a sponsorship deal with the Spanish football club, FC Barcelona, so that the broker can use the club's and players' images in its advertises anywhere in the world, other than in Spain.
Sports club sponsorships are usually a very expensive deal and thus serve as a way for companies to show potential clients that they are well established in their markets and must earn enough in order to spend on such arrangements. However, such very high costs are hard to explain when the primary focus of advertisers in the FX industry right now is to lower the costs of client Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term via targeted online campaigns and signing on successful Introducing Brokers.
Being associated with a worldwide respected image such as that of FC Barcelona can definitely be a major boost to any brand, but only time will tell if such a mass marketing approach would ever actually be beneficial enough to cover the costs and not just become a net loss for IronFX.
Javier Faus Santasusana, Senior Vice President, FC Barcelona and Markos Kashiouris, CEO Iron FX
Other examples for FX brokerages that sponsor sports team are, Alpari which signed a 3-year deal with West Ham United in 2011, GAIN Capital’s sponsorship of Manchester City, and FXTCR partnership with Galatasaray Sports Club to Launch GS Forex. Notable examples besides football are Saxo Bank and FxPro that sponsor Formula 1 car racing teams. Forex Magnates reviewed the practice of sport's sponsorships last year.