SpotOption has revealed its financial results thus far into the calendar year and has demonstrated a growth of 50% in turnover, clearly revealing the healthy condition of the binary options sector at a time when many retail FX firms are experiencing consecutive months of low volatility. In the company’s 5 year history, this growth represents new records for both volume and revenue.
According to the firm, business across all regions has grown with new records being set for the up and coming Asian markets, upon the immediate opening of the Hong Kong office. SpotOption derives 70% of its business currently from Europe, with emerging markets such as Asia Pacific soon to compete.
SpotOption attributes much of the growth due to new technological advancements, such as Trade On, which allows for trading to continue on weekends, holidays, or whenever markets are closed, the Ladder feature, the new and simple forex platform, and of course SpotFollow, which brings the social scene to binary options.
SpotOption also attributes the growth to new departments within the company, such as 24/7 Client Support and SpotAcademy, a department focused on maximizing white label profitability through education and training.
“We labeled 2014 as the year of the existing client at the start of the year, and it really paid off, ” says Ran Amiran, CEO of SpotOption. “There is no doubt that sales have also hit record highs, but internally, we focused most of our attention on building our clients and giving them all the tools that they need to ensure their spots as market leaders. This obviously was a strong strategic decision, and the record growth in turnover makes it that much more evident.”