Finance Magnates spoke with Rachely Esman, Founder and CEO of MarketsPulse, for her in-depth look into binary options in China as well as the company’s unique product suite, including MPGold. Her full-length interview can be read below.
1. Can you discuss the genesis of your business or what types of clients you deal with?
Since 2008, when MarketsPulse was established, the strategic focus of the company was Asia, leading us to be the binary options technology provider of choice and the first in the market.
The first market we gained significant success in providing our technology was Japan, followed by several other developing markets such as China, Indonesia, and more. Our Enterprise Solution has been our focus for this market; a customized, integrated solution to meet the needs of large brokers. To accommodate to brokers wanting a cost-effective solution, we added MPGold; designed specifically for the Chinese market.
In general, MarketsPulse’s mission is to continue to connect with brokers who are focused on providing a fair and transparent solution to maintain traders trust in the market. Our greatest reward is having traders seek out our company to ask us which brokers have our platform because of the professional experience they’ve had using our technology.
Rachely Esman, Founder & CEO, MarketsPulse
2. Which regions or countries are designated as potential growth hubs for Binary Options?
The Chinese market is very interesting and we’ve seen it grow in the past few years of providing technology there, but we also see other Asian countries flourishing.
We have seen a positive shift this year in China with a growing demand for the product from the brokers and traders.
In comparison to the last couple of years – where we needed to explain what binary options were and how it complements other instruments – now, due to trader demand and the success of our existing clients, we see many brokers approaching us to have our solution due to our experience and strong hold in Asia.
Our experience working with Chinese brokers has allowed us to make the proper adjustments to better serve the market. This year at the iFXEXPO in Hong Kong we introduced our newest solution MPGold, it is a cost-effective and fast-to-market solution built on our reliable and proven core technology.
From other regions, we’ve seen the European and Australian market continuing in its growth and demand for binary options trading; we will launch some new Enterprise clients this year, so stay tuned.
3. What is your growth strategy in China specifically?
Our Enterprise Solution continues to be the core product at MarketsPulse and in China we remain focused on established companies like Hantec. Our vision from the beginning has been to provide a solution with services and technology to meet the needs of enterprise companies by exceeding our integration and customization abilities. The solution also provides brokers the ability to be a white label provider to their IBs or to other brokers.
In the second quarter of this year we will launch a few Enterprise brokers well known throughout Asia.
Additionally, our experience in the Chinese market has also brought us to offer our newest solution MPGold. Brokers’ looking for a comprehensive solution to add binary options to their offerings and enter the market in a short time, this solution was designed for them. As with all our solutions, we will provide services including gained knowledge to steer brokers within the market.
4. Looking forward, how do you foresee binary options growing in China a few years out?
As mentioned, since last year we’ve seen significant growth in the Chinese market. There has been a positive shift, which has shown us that traders are more familiar with binary options and are actively looking for brokers.
It’s hard to say, but if we were to use the Japanese market at their peak in 2013 as an example, industry volume was $7.6 billion – prior to new regulations. We foresee, as the Chinese market matures, there is great potential for volumes to surpass those of Japan.
According to our statistics – based on MarketsPulse clients in Asia and using volume from their first year of operation – we discovered that the average monthly volumes are higher than $50M (USD) after only a year of operation. Ultimately, China is a long-term investment and we are already seeing the fruits of it now.
5. What is in the pipeline for 2015?
Technology and customer service continues to be the foundation of MarketsPulse. This year we will focus on the furtherance of brokers’ success in several different areas. We are going to continue focusing on our propriety mobile platform to provide brokers advanced technology and trader experience for quality anytime, anywhere trading.
Adherent to traders’ needs, we will also continue directing a lot of R&D efforts to enhance our core technology to maintain providing the highest payouts and lowest spreads in the industry. This year MarketsPulse brokers will also have access to a unique option type built for traders who prefer short-term trades.
Taking these initiatives and several more into consideration, we project that our pipeline for 2015 will effectively position brokers to remain as industry leaders.