March 14, 2016

LeapRate Exclusive Interview… The issue of Automation seems to be coming up a lot more lately in the lexicon of Forex and Binary Options brokers. Following the lead of brokers (such as Plus500) which have been very successful at automating their operations – including everything from customer acquisition to retention – we have been witnessing a very definitive movement by other brokers to cut staff and streamline their processes.

And naturally, forex and binary platform providers are now aiming to supply turnkey systems to brokers which satisfy those needs.

One of the first platform providers to actually come to market with an integrated solution aimed at maximizing automation was SpotOption with its Spot+ system, as was reported on LeapRate last July.

With nearly a year under its belt working with brokers on Spot+, we’re pleased to speak today with SpotOption’s Marketing Director Tammy Levy and get a better idea as to what makes up an automated broker solution, how it works, and what human input is still needed.

LR: Hi Tammy. Can you please let us know a little more about what Spot+ is, and where it fits into a brokerage platform.

Tammy: The Spot+ platform has a back office system which focuses on automation especially in terms of sales, marketing, and retention. It has an array of features, developed to increase productivity and enhance efficiency. Some of the features include Q Center, which is a segmentation building tool that sends out event-based, scheduled, and automated emails to leads, customers, and depositors. There is the Communicator, which is a system for chatting with traders, and for push notifications for web, mobile, and text messaging.

Autodialer is another great tool which allows call-center employees to make automated calls, with the next call dialed as soon as the previous one ended.Mailer database is a feature that allows the uploading, building and saving of databases of email templates that can be used for sales, support and marketing purposes.

Another example feature is Refer a Friend. This is a cost effective campaign based on the best form of advertisement – word of mouth. Operators can automatically encourage traders to bring aboard their friends by rewarding both of them with a bonus. This can be done through Facebook, LinkedIn, or email.

LR: Why is automation important when setting up or running a brokerage?

Tammy: The binary brokerages of today are global, and the only way to reach the amount of potential traders that there are is through an automated system. Additionally, to efficiently manage retention and marketing activities, an automated system facilitates the process.  In order to be cost effective, you need to reduce manpower, and reach as large of an audience as possible with the team that you have, in the time that they have. Manual activity obviously cannot compete with a big data system programmed for mass targeting.

LR: Is it really possible to remove all (or even most) human interaction in acquiring and retaining customers?

Tammy: Absolutely not. At the end of the day, machines are machines, and humans need humans. The automated system simply gives the human the tools to interact, efficiently and effectively, and allows them to do so exponentially.

LR: How has Spot+ helped increase the downloads of SpotOption mobile apps?

Tammy: The features in Spot+ that are focused on mobile marketing have given operators the final incentive to promote the app. Operators can send “push to sms” notifications, and activate campaigns for mobile in a more effective and cost efficient manner.  Once the operator realizes the advantages, he knows how to get the traders to download.  We’ve now reached 5 million downloads of the app, and this is due to word of mouth of a great trading experience, and of course, operator promotions.

Finance Magnates has revealed that SpotOption, the leading binary options technology provider is branching out to the online payments business with an innovative operation called Spot Paymentech. The new venture will focus on the binary options market to get established, but it won’t be limited to it as it will targets other verticals such as: e-commerce, gaming and travel as well.

Spot Paymentech will act as a Master Payment Service Provider by means of providing a single acquiring point for brokers wishing to process transactions globally and connect with multiple payment providers, acquiring banks and alternative payment schemes. Spot Paymentech platform will support a wide range of payment methods such as, major credit and debit cards, online banking and alternative e-payment solutions.

With regards to binary options, Spot Paymentech will engage brokers from the regulated market only, which may limit its growth potential within the industry but will allow it to keep a good reputation with banks, financial authorities and even institutional investors.  A number of SpotOption’s regulated brands are already lining up to test the new service as the firm wishes to establish its credibility before the official launch during Q2 2016.

Advantages

Spot Paymentech’s main selling point is the optimization of broker payments performance by improving the overall acceptance rate.  In order to achieve this, the company will use its proprietary smart dynamic routing technology, to build a payment method matrix.  This will find a match for each broker through active tracking of where the majority of a brand’s clients are from, and then route the transaction to  the best performing payment service provider for that region based on its scoring and past performance.  Considering SpotOption’s size and scope in the binary options industry, the firm has performance data access and knows exactly which payment providers and acquiring banks are most fitted to the binary options marketplace in every region of the world.  Spot Paymentech will setup relationships with major banks in key areas, especially targeting the largest credit card issuers in each area, another step to ensuring maximum approval rates.

For completely new startup brokerages, there will also be an additional strong selling point – no need to create a relationship with another provider. Until now when a new brand was launched with SpotOption, they received an almost turnkey solution technology-wise but had to choose a third party to supply payments services.  This often caused a slight delay until it accepted their business in order to accept deposits. Once Spot Paymentech will launch, a new brand will simply have an option (presumably the default option) to get a service provider immediately out of the box, assuming they got regulated as well.

Going forward

It’s still too early to judge how such a move can affect the binary options industry, but there are obvious possibilities. One is that the other binary options technology providers will also launch their own payments services or try to cement a relationship with a payments provider in order to make sure they can offer the same full service package as SpotOption.

Another is that this can lead to increased competition for the brands’ businesses, which will include the parameter of promising the lowest rate of credit card refusals and maximized profitability.  This will increase satisfaction level of clients, as being turned down and sent looking for workarounds can kill one’s mood especially in such an immediate instrument as binary options.

Looking at the bigger picture, Spot Paymentech shows that SpotOption is actively thinking how it can be as innovative as possible to close all the loops in the binary options business, gradually expanding to cover every possible need a broker might have.

Leading Binary Options Platform Provider, SpotOption, reports rapid growth in mobile popularity. 

SpotOption announces the fifth million download of their mobile application. The recent growth in popularity can be attributed to operator encouragement, as the benefits and opportunities became more evident. Allowing traders to trade on-the-go, from any location obviously expands business exponentially, and that was recognized as soon as the app was launched. However, it was the new marketing opportunities that created the recent breakthrough, and these opportunities arose with theSpot+ automated platform. Besides the fact that marketing for mobile is cheaper and more effective, Spot+ gives operators the chance to automatically push notifications and adverts to mobile users, and to send automated text messages as well regarding market movements that call for immediate action. The system has the capability to distinguish which mobile device the trader trades from, and converts media accordingly.

“Our mobile app has been a great focal point for us since the launching in 2013,” says Ran Amiran, President of SpotOption. “The Spot+ automated system has given the app the support it deserves. 5 million downloads is proof that the app is a success, which operators and traders alike have recognized.”

The mobile app, with state-of-the-art design and functionality, is part of the SpotOption multi-platform solution, which also includes desk top, download, and machines.

About SpotOption:

SpotOption was established in 2010, and is officially today’s leading binary options platform provider. Staffing over 250 employees, including top programmers, developers, and designers, SpotOption has branches in Cyprus, Hong Kong, and Israel. SpotOption’s clientele stands at 300 labels, and they hold 65%-70% of the market share globally, with clients in Europe, Asia, Australia, Middle East, USA, and Latin America. SpotOption has a multi-platform solution for Binary Options, Forex, CFDs, and Ladder trading.

Media Contact: Tammy Levy, Director of Marketing, tammyl@spotoption.com, +357-24-022-455

World’s leading binary options platform provider, SpotOption, was the recipient of the prestigious Finance Magnates 2015 binary award  

SpotOption announces their winning of the 2015 Finance Magnates award for Best Binary Options Service Provider. The Finance Magnates awards took place on November 3rd, and recognize excellency amongst the industry leaders, by holding a voting process where judgment is performed by peers and clients. The voting is an anonymous two-phase process, and the winners are judged by the stakeholders who matter most in the industry.

SpotOption has experienced rapid growth over the years, with a 50% increase from 2014 to 2105. Manpower has also grown significantly to accommodate this growth. SpotOption’s employee count stands at 250, with branches in Israel, Cyprus, Hong Kong, and New York (up and coming). As providing the best service to clients is SpotOption’s ongoing mission, the expansion in manpower and branches focused on localized, accessible service is SpotOption’s strategy in accomplishing the mission.

“It is an honor to be recognized with this award by our peers,” says Ran Amiran, CEO of SpotOption. “I’d like to thank our team, who dedicate themselves to providing the best platform and service, and to our clients who vocalized their appreciation by voting for us. We will continue to do our utmost to hold this title, in this growing world of binary options.”

Leading binary options platform provider, SpotOption, was issued another certificate of reliability, ISAE 3402 for Europe, and SSAE for the United States

SpotOption announces their receiving of International Standard on Assurance Engagements (ISAE) No. 3402 and SSAE 16 certificates. As part of their ongoing effort to hold themselves to the highest standards of credibility, this certification process provides assurance internationally of the compliancy of their system. ISAE 3402 was issued in December 2009 by the International Auditing and Assurance Standards Board (IAASB), which is part of the International Federation of Accountants (IFAC). Their American counterpart, Statement on Standards for Attestation Engagements (SSAE) No. 16, was finalized by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in January 2010.

SpotOption is a technology provider, and works together with CySEC licensed binary options market maker, SpotOption Exchange to provide the complete business solution to online binary brokers.  As more and more regulators globally have started licensing the industry, technology providers should aim to comply their system with international standards, and should provide proof of the effectivity of their information security.  SpotOption is staying at the forefront with obtaining all possible credentials, and henceforth protecting the industry, operators, and traders alike.

“ISAE 3402 and SSAE 16 is the leading international standard for Independent Attestation of Compliance,” says Amir Vaknin, CTO of SpotOption. “This is why it was important for us to receive this credential, and we will continue doing our utmost to ensure the reliability and integrity of our platform and system.”

May, 2015 – SpotOption announces its entrance into the U.S. market with its first custom white label, Forest Park BX.   The brand is owned by Ambassador Capital Management, LLC (Forest Park FX, Forest Park BX and Forest Park Binary Exchange) and is registered with the Commodity Futures Trading Commission (CFTC) as an Independent Introducing Broker.   They are also a member of the National Futures Association (NFA).

Forest Park BX received the full technology solution from SpotOption, including front-end, trading engine, CMS, and CRM.  Via SpotOption’s partnership with CFTC regulated Cantor Exchange, Forest Park BX gives traders the most simplified and user-friendly binary options platform available today.

“The U.S. market has been waiting for a binary brokerage that provides easy trading for mainstream individuals,” says Ran Amiran, CEO of SpotOption. “We have great confidence that Forest Park BX is the perfect platform to pave the way for the entire industry.”

World’s leading binary options platform provider, SpotOption, launches their latest version, Spot+

July, 2015 – SpotOption announces the first integrations of the latest platform, Spot+.   Appropriately named the game changer, this platform has revolutionized binary operations by tailor making a solution specifically for the binary industry to increase sales, marketing, and retention activities.  This was done through an extended period of studying trader characteristics and behavior patterns, along with the efficiency levels of the operation’s sales employees.  As SpotOption is today’s leaders in binary option platforms, and has over 250 labels using their platform, they’ve gained the necessary know-how to create a platform that focuses on equipping operations for maximized conversion through automation.

With features such as QCenter, Communicator, Autodialer, Mailer Database, and Refer a friend, the Spot+ platform focuses on providing operators with an automated solution.  This allows them to significantly increase the efficiency of their sales and marketing team, reduce manpower, and reach a much larger target market in much less time.   The result is larger profits for the operation, that bring their sales activities and results into the major league.

“We’ve always prided ourselves on providing the complete solution, and all that was left for the operator to do is sales and marketing, “says Ran Amiran, CEO of SpotOption.  “However, sales and marketing plays too intricate of a role in the success of the business to not be included in our solution.  That’s why Spot+ is now the game changer, and truly the complete binary solution.”

World’s leading binary options platform provider, SpotOption, will be the official networking party sponsor of this year’s IGAMING SUPER SHOW in Amsterdam June 24th

Spotoption announces that they will be the official sponsors of the networking party for both the infamous Igaming Supershow on June 24th. As the Gaming and Forex industries have joined forces, so have the events. The party will take place at the exclusive club AIR, in the heart of Amsterdam, a luxorious night club that has gained worldwide fame because of its door policy and many well known celebrated guests. D.J. Sander Van Doorn will be the special guest at the party, entrance is free to invitees,  drinks and aperitives are on the house.

“We’ve been waiting to host a party like this, for both forex and gaming” says Ran Amiran, CEO of SpotOption. “The party is an act of thanks to our partners, a celebration of the company’s success, and a chance for us to reach out to other operators, affiliates, and anyone interested in the business.”

Location: Club AIR,  Amstelstraat 24, 1017 DA Amsterdam

To view the party promo, click here

SpotOption’s award winning binary platform is now readily available to ZuluTrade’s community

SpotOption announces the embarking of the well-awaited for signals project through their exclusive partnership with ZuluTrade. The collaboration gives traders who trade on the website of SpotOption’s white labels the ability to share their strategies with other traders in the social environment via ZuluScripts.  ZuluScripts is ZuluTrade’s proprietary tool which allows traders to create automated binary strategies. Therefore, both forex and binary traders can log onto ZuluTrade’s website, and follow the top traders in the SpotOption system.

Traders (who trade on one of SpotOption’s labels) can simply choose the other traders that they wish to follow based on their ROI and win percentage, and they can instantly convert their advice into live trades. Traders can also control their risk through ZuluGuard, ZuluTrade’s capital protection tool with allows traders to set limits on how much they can lose from a single trade or from a single signal provider, and also set limits on how many trades they can open simultaneously.

SpotOption’s white labels will enjoy retention benefits from this collaboration, such as longer trader lifetime, higher trading volumes and conversion rates, etc. They can be part of the social sensation, which has taken forex by storm. “We’re very excited about going live with this partnership, after a period of extensive testing,” says Ran Amiran, CEO of SpotOption. “ZuluTrade’s leading algorithm technology will give our white labels the ability to offer their traders expert-level transactions without having to analyze the market, and eliminates their need to be online for making transactions.”

“The power of binary options is their simplicity,” says Tammy Levy, Director of Marketing at Spotoption. “Our partnership with ZuluTrade is another step we’ve taken as part of our ongoing effort to provide the mainstream and amateur market with the simplest, and best trading experience ever.”

Leading binary options platform provider, SpotOption, gives binary a new twister

SpotOption announces the launching of their latest white label, Weathika. Weathika.com was built by a group of entrepreneurs from various backgrounds in the hi-tech and financial industries. The platform collects data from thousands of local weather stations throughout all major urban areas in the United States. With the use of these highly sensitive weather stations, they are able to provide traders with the most accurate, up to the minute, weather updates.

SpotOption’s technology, and trading engine, was the perfect fit for this “up” and “down” weather prediction game.  SpotOption’s traditional platform technology provides financial assets and their rates, through connectivity with top feed providers.  The trader chooses the asset, examines the given option price, and predicts if the price will rise or fall by the expiry. With the latest breakthrough, Weathika, it works very similarly. However, instead of financial assets, the platform offers locations. Instead of prices or rates, it offers temperatures. The trader then predicts if the real temperature at expiry will rise or fall from the offered temperature in the option.

Recent studies by economists at Penn State’s Smeal College of Business and College of Earth and Mineral Sciences have tested whether futures markets can be used to accurately forecast the weather, and, so far, they’ve found the markets to be just as accurate as major forecasting services. In addition, the results so far show the market to be far more profitable for predictors who are studying meteorology than those who are studying business. This is consistent with economic and financial models that suggest that better informed traders can reap substantial profits from their inside information. (Stephen J.Dubner, http://www.freakonomics.com).

“Our team at SpotOption is always searching for new and innovative ways to add dynamics and excitement to binary options, says Ran Amiran, CEO of SpotOption. “Until now, financials has been our forte, but our partners at Weathika have shown us that binaries can be much more. Regardless of what is being traded, our goal remains to provide the mainstream with the most simple and best trader experience. Ever.”