Gamification Is a Game Changer for Online Forex and Binary Options Brokers
- Some online companies cite a 100% to 150% pickup in engagement metrics including unique views, pageviews, community activities and time on site from utilizing the methods of gamification. FX advertisers take note.


One of the biggest buzzwords in the business world in recent years is "gamification." Various enterprises and institutions, from the fields of education to banking, have proclaimed their success in engaging the public following the methods of this trend.
In the online, retail FX-trading industry gamification has also been used by different startups and established firms to describe their offerings in the last couple of years. But not all gaming-style apps are truly gamified and there is much more the FX industry can do to take advantage of all the possibilities this approach has to offer.
Gamification strategies use rewards for players who accomplish desired tasks or engage in competition with other players. Types of rewards include points, achievement badges or levels, the filling of a progress bar, or providing the user with in-game virtual currency. Making the rewards for accomplishing tasks visible to other players or providing leader boards are also important gamification ways to encourage players to compete.
In simple terms, this gamification concept goes something like this: Take an existing set of activities like investing, physical exercise or just boring school homework and apply a set of game rewards in the form of points or ranking, and the tasks will become more fun. This will make workers more efficient, learning more effective and clients more engaged. The reasoning for its success is a combination of fields such as game design, psychology, motivation theory, neurophysiology and behavioral economics.
The source of the popularity of gamification especially with online marketing campaigns is that it enhances customer engagement by collecting additional data, crowdsourcing ideas, and educating clients in a fun interactive way. Some online companies cite a 100% to 150% pickup in engagement metrics including unique views, pageviews, community activities and time on site.

In our QIR4 article "Gamification is a Game Changer" we present the intersection of 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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. 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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and gamification. Based on interviews with top FX gaming apps developers, the article presents the developing field of gamified FX trading. We review the trend and how the technique works in practice, offer a comparison of the different new approaches and present the benefits to traders, investors and brokers. Find out more in the recently published Forex Industry Quarterly Industry Report.

One of the biggest buzzwords in the business world in recent years is "gamification." Various enterprises and institutions, from the fields of education to banking, have proclaimed their success in engaging the public following the methods of this trend.
In the online, retail FX-trading industry gamification has also been used by different startups and established firms to describe their offerings in the last couple of years. But not all gaming-style apps are truly gamified and there is much more the FX industry can do to take advantage of all the possibilities this approach has to offer.
Gamification strategies use rewards for players who accomplish desired tasks or engage in competition with other players. Types of rewards include points, achievement badges or levels, the filling of a progress bar, or providing the user with in-game virtual currency. Making the rewards for accomplishing tasks visible to other players or providing leader boards are also important gamification ways to encourage players to compete.
In simple terms, this gamification concept goes something like this: Take an existing set of activities like investing, physical exercise or just boring school homework and apply a set of game rewards in the form of points or ranking, and the tasks will become more fun. This will make workers more efficient, learning more effective and clients more engaged. The reasoning for its success is a combination of fields such as game design, psychology, motivation theory, neurophysiology and behavioral economics.
The source of the popularity of gamification especially with online marketing campaigns is that it enhances customer engagement by collecting additional data, crowdsourcing ideas, and educating clients in a fun interactive way. Some online companies cite a 100% to 150% pickup in engagement metrics including unique views, pageviews, community activities and time on site.

In our QIR4 article "Gamification is a Game Changer" we present the intersection of 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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. 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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and gamification. Based on interviews with top FX gaming apps developers, the article presents the developing field of gamified FX trading. We review the trend and how the technique works in practice, offer a comparison of the different new approaches and present the benefits to traders, investors and brokers. Find out more in the recently published Forex Industry Quarterly Industry Report.