ForexMinute – When at one point, critics are leaving no stones unturned to defame cryptocurrencies, there are also some reputed organizations that openly credit them for what they are, i.e. people’s favorite. The dialog belongs to Bitcoin and Litecoin, two leading virtual currencies that recently got a special mention by the world’s most renowned forex brokerage firm Plus500.
The company believed that both the currencies had a greater role in last year’s performance, in which they added a whopping 56,819 customers – a 52% increase from 2012’s figures. While some may still credit Plus500’s flawless internet advertising techniques, the broker itself doesn’t believe this wholly.
“The software “Marketing Machine” though explains some of the new traders at Plus500 but naturally increased customer was not caused by this software marketing,” confesses the company. “Note that we offered attractive trading conditions in 2013 which expanded significantly throughout the year. Early traders were able to speculate and make money out of a total of 600 products, but the list now stands at 1,900 products, with additions such as the Bitcoin and Litecoin trading that were really enjoyed by the traders.”
The customer growth at Plus500 is also linked to the fact that the broker has started to realize some of its business in 2013 in the Australian territory. Europe however remains the main market for the broker, as 90% of revenues are still generated at home. But its presence in Oceania has contributed to the improved results, if taken into context.
To contact the reporter of the story: Yashu Gola at email@example.com