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SpotOption’s Spot+ and the importance of automated brokerage solutions

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.

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SpotOption was established in 2010, and is officially today’s leading binary options platform provider. SpotOption white labels the full business solution for brokers who want a trading platform for their online brokerage. With a staff of over 250 employees, including top programmers, developers and designers, SpotOption’s trading platform was awarded the 2015 “Best Binary Options Platform Provider” by Finance Magnates. SpotOption has offices in London, Hong Kong, and the Middle East. SpotOption prides itself on innovation, with unique features that give binary options a dynamic twist (such as One Touch, 60 Seconds, Option Builder, Algo Trading, Ladder, etc.) and a mobile app that is unrivaled with state-of-the-art graphics and features. SpotOption’s white label solution can be provided as a complete, stand alone operation, or can be easily integrated with full API into an existing operation or with MT4 platform.
SpotOption offers a multi-platform solution, which includes Web-based, Download, Mobile, Land-based, Mobile and WeChat. The web-based platform is a hassle free, no download necessary platform. It doesn’t tie a trader to a single computer, and is accessible from anywhere that there is internet. The downloadable platform is the preferred method for regions such as China, where delays on data transmissions due to poor internet connections are common. The ability to reduce dependency on the internet is imperative for trading on market volatility, as in binary options, where the slightest fluctuation counts.
The mobile platform has state-of-the-art design and functionality, and gives traders access from any location. Mobile marketing is simpler, and the touch buttons are natural and engaging for “call” and “put”. The Land-based is a regulated opportunity for on-site retail! You can start your own trading venue and allow traders to trade on-site, and continue from home, mobile, etc., with one multi-channel account. Short term expiries are 15, 30, 60, 90 seconds, especially for onsite trading. WeChat is no longer just a mobile app chat! With 271.9 million active monthly users, offering trading on WeChat has endless possibilities. The SpotOption WeChat platform has the same easy user flow as the regular platform, and designed specifically in accordance to the WeChat terms and requirements.
SpotOption is known for providing top service for in support of its technology. The Risk Analysis department monitors operator exposure, to ensure operator security and loss prevention from fraudulent or suspicious activities. SpotOption’s Risk Analyzers are equipped with data feeds and sophisticated algorithms that monitor all open positions, around-the-clock. SpotOption’s Account Managers give you a single, point-of-contact to ensure that your operation runs smoothly, from the delivery of your website to your profit phase. They are there to guide you, and to answer all issues you may have along the way. You will be in constant correspondence with them, and will find that this personal relationship gives you and your business the attention you deserve. SpotOption’s Support department was created with the goal of providing clients with the fastest, most professional, and efficient service possible for technical issues. The service portal is a professional ticketing system,that guarantees the fastest approach to determining problems and providing solutions. The team behind the support are trained professionals, who solve issues promptly and courteously, to guarantee that the client feedback to the support handling will be a positive one. SpotAcademy is the department at SpotOption that educates clients on the binary business and the tools they have been equipped with. From the one-of-a-kind CRM to new features, the trainers at SpotAcademy supply you with the key to running your business successfully – knowledge. SpotAcademy also boasts a unique knowledge portal, that gives clients all the education needed to thrive in the industry. Through the portal, labels log in and find manuals, tutorials, recorded webinars on subjects such as products, backoffice tools, mobile apps and industry trends.
SpotOption’s clientele stands at 300 labels, and they hold 65% of the market share. SpotOption has expanded globally with clients in North America, Europe, Asia, Middle East, Australia, and now USA through licensed Exchange. SpotOption provides trading technology to some of the largest brokerages in the online industry, such as Banc de Binary, Banc de Swisse, Itrader, and many more.