Should we all be part of the Online Trading industry as a whole, as opposed to just Forex ? The fact is that with the current global discourse on fluctuating oil prices, traders of online CFDs are becoming increasingly interested in trading commodities and other instruments over currencies.
The change in oil prices has been stealing the limelight in market news for more than a year – and many of us have noticed the impact of the fall in oil prices in our everyday lives. Who hasn’t suppressed a mild smirk at their lower-than-usual petrol / diesel bill? The prospect of visiting the petrol station to fill up, isn’t quite as daunting as it used to be. Quite.
Following the recent OPEC meeting, a rise in oil prices is on the cards, whilst Marshall Gittler FXPRIMUS Head of Investment Research when interviewed via a Reuters live stream, said in no uncertain terms that he believed oil prices are headed lower.
The ‘forex’ industry is reacting to the market volatility in oil pricing. With many brokers offering a range of instruments beyond the forex majors, minors and exotics, it would seem that commodities are the new rising star. This rising interest in gold and oil from markets traditionally interested in the big forex pairs, are now becoming aligned with markets such as the Middle East, where trading on commodities has always been popular.
Brokerages understand the importance of providing competitive offerings on commodity products. Not simply because some perceived gold as a safe haven. But because the importance in diversifying trading portfolios, or simply put: trading on a range of different instruments, helps to diffuse risk and may result in greater returns.
Brokers understand the importance of providing competitive offerings on commodity products
Today’s brokers are rising to the challenge of competing with each other for the best offerings on commodities, ourselves included.
A new trend in offering physical gold & silver is taking hold in forex, while others are reducing their spreads and are working hard to add more commodity instruments to their range of online offerings.
It’s an interesting time to be in forex – where forex doesn’t just mean forex, but where it is synonymous with commodities, stocks and indices.
How Can IBs & Affiliates Benefit From Strong Interest in Commodities?
Partners are in a prime position to benefit from the ‘gold and oil rush’ commodities. Here are some ways that partners can get on the commodities band wagon.
Get Your Advertising Banners: Don’t be afraid to ask your broker for some good advertising banners promoting Oil or Gold for you to put on your website.
Ensure that the banners are made to the dimensions you need.
Have the banners in the appropriate languages for your audience.
Are there any images or colours that particularly appeal / or are unappealing to your clients or your potential target markets culture?
Tell your broker about it, so that they can incorporate your feedback to maximize conversion.
Ask for an exclusive promotion: Your clients will choose you over other IBs, if you can offer them preferential spreads and advantageous trading conditions on commodities. Ask your broker what they are doing for commodities and if not, ask them if they can offer your clients a special rate.
Content Is King: the more you write, the more profile and engagement your website or blog is likely to get.
Googlebots will recognize any keywords from your blog and this will contribute towards organic ranking and raise your profile on google.
Write regularly about your instruments of interest. Comment on what is happening on Oil or Gold? Try to identify what your clients want to read about and write about that.
Use keywords as often as you can without diluting the quality of the text.
This article was written by Helen Astaniou, PR & Marketing Communications Manager at FXPRIMUS.com. Contact her at helen.astaniou@fxprimus.com.
