With the relaunch of BX8, Leverate brings a wealth of experience gained from the Forex software solutions industry into the Binary Options field. As the BX8 Product Manager, I’ve spent the last few months speaking with Binary Options brokers and traders, and I’ve discovered the key ingredients for increasing profitability and trader retention. I’m going to cover some strategies for how to run a successful Binary Options brokerage, including why the BX8 Binary Options platform is the perfect trading solution.
Ease of Management
A common problem for Binary Options brokers is having to use multiple, complicated systems that weren’t built to function well together. This is inefficient for two reasons. First, it is a waste of time, since brokers will end up having to take time away from the income producing activities of marketing, sales, and retention in order to learn and maintain the system. Second, it is a waste of data, as valuable information from the platform is not shared with the sales and retention teams automatically, lowering the chances of positively impacting trader behavior.
When we created BX8, we wanted brokers to be able to manage their entire Binary Options business independently. BX8 Manager contains a complete kit with tools for monitoring the performance of your portfolio and tracking the status of your traders. The intuitive design is a breeze to master, and keeps you free to focus on the parts of running a Forex brokerage which generate income: marketing, sales, and retention.
We’ve also made it easy to track communications with your traders. BXCRM is designed from the ground up specifically to meet the needs of Binary Options brokers. We built in a continuous link from the trading platform into the CRM, so you always know exactly when your users are online. Knowing the perfect time to get in touch is a great way to encourage deposits and incentivize trading.
Simple Risk Tools
Risk management can be complicated, especially for Binary Options brokers who are coming from outside the financial services industry. This can lead to an overreliance on intricate analytics, with the end result being that the situation becomes even more unclear than before. Alternatively, the brokerage may end up having higher human capital costs if it becomes necessary to hire an outside team of trading specialists.
BX8 offers straightforward risk management tools which provide a constant picture of currency pricing and payouts, maximizing returns and reducing losses. Everything is available instantly from a central location on the BX8 Manager dashboard. We believe that having a constant stream of easily understandable information leads to better decisions and the need for less staff.
Conversion, Retention, and Ease of Trader Entry
While we made the BX8 platform stylish, we didn’t forget that the main goal was to encourage traders to make deposits and stay active. Each section has a clearly labeled call to action with a prominent deposit button. Between the fast paced trading options and the unobtrusive encouragements to deposit, we expect your traders to stay longer and spend more than ever.
When we developed BX8, we thought about the needs of the traders as well. We wanted to create an environment that was equal parts inviting and uncomplicated. So, the user interface is attractive and clear, and traders have multiple time frames to fit their personal levels of risk tolerance and strategy. Brokers also benefit, since the platform handles most of the aspects of trader education, freeing up resources that otherwise might have been directed into walking new clients through the system.
Binary Options Trading from Anywhere
Binary Options traders enjoy having the flexibility to test the currency market whenever the mood strikes them. We’ve created a BX8 mobile app which puts the power of the platform into their hands wherever they go. This brandable Android app combines easy entry 60 second trading windows, constant rate updates, and a comprehensive order history with an attractive interface designed promote longer trading sessions and larger deposits.
We’re excited about the relaunch of BX8, and we can’t wait to show you how our platform can help you run a successful Binary Options brokerage. We’re always available to hear what you have to say, so feel free to get in touch with me or your Account Manager with any suggestions or questions. And remember, when you’re using BX8, success is the only option.