ForexNewsNow sat down with Banc de Binary CEO Oren Laurent on Tuesday to ask him some questions about his private options brokerage in another installment of “Get to Know a Broker.”
We asked Oren some questions about online binary options trading, the US economic recovery, the price of Gold and more.
Here is the full interview:
Hi Oren, thanks for taking the time to meet with us today.
Can you tell us about when and why you decided to launch Banc de Binary?
Banc De Binary was founded in mid-2009 following the major financial crisis of the last decade. I could see that following the SEC’s decision to approve the listing of binary options, that this less risky form of trading would enter a huge period of growth. My vision was for a new kind of bank focused on high quality binary options trading services and solutions targeting the experienced and seasoned trading professional.
When did you first hear about binary options trading?
I was aware of Binary Options trading for a number of years, but what really caught my attention was when the SEC approved the listing of binary options in early 2008.
Which underlying asset class is the most traded at Banc de Binary: Forex, Commodities, Stock, Indices?
Forex has dominated most of our short-term assets, while Indices are more commonly traded as longer term options.
Which asset is the most traded besides EUR/USD?
Besides the EUR/USD, the USD/JPY and the EUR/JPY are the next most commonly traded assets in Forex. Gold and Oil are the most commonly traded commodities. Apple and Google are some of our most hotly traded stocks and the Dow, NASDAQ, and S&P 500 are our most commonly traded Indices.
What’s in store for the future of Banc de Binary?
Looking to the future, Banc De Binary will drive the unprecedented growth that will take place in the Binary Options trading market, which will rival today’s Forex Trading market. Banc De Binary will continue to innovate new technologies, expand our range of tradable assets, and push for future industry regulation.
How do you think online binary options trading will change in the next 5 years?
While it is very hard to predict the future of Binary Options trading, a few things are certain. Binary Options trading will become increasingly regulated and the range of tradable assets will increase. Most importantly the amount of money invested through Binary Options trading will increase dramatically.
Why should traders feel comfortable putting large sums of money in the hands of Banc de Binary brokers?
Banc De Binary’s brokers are the best in the industry. Our stringent recruitment process enables us to ensure that Banc De Binary’s brokers are of the highest caliber. We provide them with the best technologies and analytical tools available to ensure that their split second decisions are as accurate as possible. In addition, your money is actually in your hands. You choose the options. Our expert team of Brokers is here simply to advise and assist inexperienced traders.
What would you say to a trader who is debating whether or not to start trading binaries?
Traders who are not sure about whether to invest in Binary Options should consider that Binary Options trading allows you a high level of control over your portfolio. It is the one form of trading that allows you to minimize and set your own levels of risk. In addition, traders are able to do better than “guess” by using the analytical tools at their disposal directly in the trading platform.
What’s your outlook for the US economic recovery? What do you predict for the NonFarm Payrolls next month – will it be another 0?
The outlook for the US recovery looks rather bleak for the time being as H1 growth is looking very weak and H2 growth is projected to be much lower than originally expected. The US economy is edging closer and closer to a recession, while QE3 seems completely unavoidable. Our prediction for the NonFarm Payrolls next month is that there will not much of a change, since the US economy has basically come to a stand-still.
How much higher do you think the price of Gold will rise? Is it currently overvalued?
Gold’s remarkable rise in price is being caused by fears of the US and Europe’s inability to cope with their debts, driving consumers to choose the Swiss Franc and the Japanese Yen as “safe-haven” currencies. However, Switzerland and Japan do not want this, because as their currencies become stronger, their export costs are driven higher. For this reason, many consumers are turning to Gold as a safe alternative. While Gold’s rise seems to be reaching a peak, what many consumers forget is that Gold’s rise has not yet reached the current record, set in 1980 at $1952/ounce, and until the debt crises in the US and Europe are resolved, there is no reason for Gold to go down.
Excellent, well thanks again for your time and good luck in your future endeavors.
Thank you, good luck to you too.
Here is a link to a brochure with more information about Banc de Binary for those interested in their services.