The following is an interview with Banc de Binary CEO Oren Laurent at the London Stock Exchange on the occasion of his company receiving the prestigious World Finance 100 Award.
Interviewer: Oren Laurent and Niko Galis, many congratulations on Banc de Binary entering the World Finance 100.
Oren Laurent: It’s a pleasure thank you.
Interviewer: Why do you think we’re seeing a boom in binary options trading by experienced speculators?
Oren Laurent: Well I think that in many ways the turbulence in financial markets in recent years has directly created space because so many traders now view the idea of traditional speculative trading as far too risky and riddled with hidden complexities to consider. Rising volatility and a staggering increase in the number of available investment vehicles has further muddied the waters, increasing the margins of error and the frequency of costly mistakes. In complete contrast to this situation binary options have carved out a niche that focuses on straightforwardness, known risk, and de-emphasis on volatility. Perhaps most importantly risk calculation on binary options is understandable. With more traditional assets it’s easy for a prospective trader to lose track of their exposure on a given investment. However with binary options the set price and all or nothing nature of outcome means that, fundamentally, exact risk is known. As a result binary options traders are able to make wiser decision about money and account management and our retail investors have access to the retail information that rivals professionals. Our traders can make money in spite of volatile markets and in many cases are able to make successful predictions because of market volatility. These conditions are exactly why binary options are enjoying such a boom. Binary option trading gives traders back the power to focus solely on making correct predictions and consequently to enjoy making money.
Interviewer: How much of a turning point was the decision of the Securities and Exchange Commission to approve the listing of binary options in the U.S?
Oren Laurent: Well the impact of the SEC’s decision really can’t be overestimated. In fact Banc de Binary is one of the original binary options brokers to be founded in light of that 2008 announcement. Of course one mustn’t forget that the SEC’s decision was made in the wake of the credit crunch and the systemic effect that it’s had on global markets. At that time Binary options had already been traded for a number of years as an unregulated over-the-counter transaction. Because of this there was no existing liquid market in place and binary options trading was considered somewhat unusual. However I for one could see that the SEC’s decision to approve the listing of binary options would create huge opportunities for wealth creation going forward and that furthermore this less risky form of trading was due to enter a period of exponential growth.
Interviewer: So you decided to put Banc de Binary at the forefront of this market.
Oren Laurent: Absolutely. My vision was for a new kind of bank, one that focused on high quality binary options trading services and solutions to seasoned trading professionals and offering high quality online trading alternatives to this rapidly emerging market. I realized straight away that there was a gap at the quality end of the market and a real absence of binary options platforms to provide this level of service to the experienced trader. As a result the bank has built its core service offerings around these professional services and still leads the market in creating innovative ways to increase its portfolio. Looking to the future I believe that binary options trading will become increasingly regulated and the range will continue to grow. Most importantly I believe the amount of money invested through binary options trading will also rise dramatically. In fact I wouldn’t be at all surprised if binary options trading soon rivaled today’s Forex trading market.
Interviewer: And what kind of growth have you experienced in the last two years
Oren Laurent: Our results have been nothing short of spectacular as of September 2011 we have created over 20000 client accounts. An exceptionally high number being managed broker and VIP accounts with trading activity in over 80 countries worldwide. The average amount of each trading account is by and away the highest of any binary options trading platform available. The Banc de Binary website receives over 2000 unique visitors each day and has rapidly climbed the Alexa ranking; last but not least Banc de Binary is very proud of the fact that just 14 months from its founding it has been accepted as a member of the prestigious World Finance 100 awards.
Interviewer: Tell us about the team that you’ve put together at Banc de Binary.
Oren Laurent: Well I’m proud to say that our brokers are the best in the industry. I really believe that people are Banc de Binary’s greatest asset and we employ stringent recruitment process to ensure that we hire brokers of the highest caliber.
Interviewer: Of course the technology is important in this sector so what’s your take on that?
Oren Laurent: Of course. We are currently developing many new innovations in-house. Such as fully functional applications for smart phones and tablets. Banc De Binary New Trading App will allow traders using the Banc de Binary platform to access up to the minute data and the functionality to place trades from their account at any time and from any location with an Internet connection. We’re very excited about all our new developments.
Interviewer: And finally what’s the key piece of advice that you would give to anyone who wants to trade successfully in the binary options market.
Oren Laurent: I think that prospective traders should remember that one of the key benefits in binary options trading is that it affords you a high level of control over your portfolio. It is the one form of trading that actually allows you to minimize and set your own levels of risk. This means that diligent traders automatically enjoy higher levels of success than in more traditional asset trading simply because they are able to manage the risk exposure. The other suggestion I would make is for the trader to really utilize the resources we offer. We provide a wealth of analytical tools at the trader’s disposal directly in the trading platform and the primary way to ensure success is to undertake thorough asset analysis. And finally I would say that just as in life it’s important to remember that mistakes occur from time to time. It’s beneficial to accept each mistake as a lesson and try and learn from the experience. Traders should build up a history of successful strategies and those that have not worked, so that he or she can avoid repeating the same mistakes in the future. Gradually the investor will build up his overall success rate. We really do have a wealth of information available on the very subject for traders, so as a final word of advice I would like to say that any trader could please remember that Banc de Binary is actually on your side. Very few investment banks can honestly make that claim. Here at Banc de Binary we sincerely believe that.
Interviewer: Oren Laurent thanks you very much.
Oren Laurent: Thank you. It’s a pleasure to be here.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.