Launched by Leverate in January, BX8 is the broker technology provider’s binary options trading platform arm. The creation of BX8 was aimed at capturing market share in the growing binary options trading market, as well as offering additional products to their clientele. Similar to other binary options providers like SpotOption and Tradologic, BX8 is a white label turnkey platform offering quick availability for brokers to market binary options to retail clients.
Speaking with members of the firm, they have cited to Forex Magnates that they are receiving a lot of interest for BX8, both from new leads and existing customers. The new revenue source comes at a time during which the last 10 months have been fairly difficult for much of the retail Forex industry, thus causing many firms to diversify into alternative product types and asset classes. Benefiting from this trend has been the binary options industry as it offers brokers a product type that appeals to a wider spectrum of potential clients.
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For Leverate, following on the focus towards binary options, the technology provider has announced several new features to its BX8 platform. Among them are additional risk management features and what they call “anonymous trading”. The anonymous feature allows potential broker customers to try the platform without registering information. According to Leverate, the feature is aimed at encouraging users to try the platform, followed by triggers to open a demo and live account. Overall, the idea is that the expected results are that higher initial engagement will lead to more efficient levels of customer conversion. On this, commenting in the firm’s public statement, Amit Sagiv, BX8 Product Manager said, “At Leverate, we’re always testing new ways to improve the conversion rates for our brokers. Based on our extensive experience in financial trading, “anonymous trading” builds trust with the brokers, leading directly to more live accounts.”