NEWSROOM

Online investment platforms are increasing their popularity day by day, and investors and investor candidates look at how safe they feel before the profit they will make. “Online trading platforms need to embrace the principles of transparency and accountability,” says Binomo Special Projects Specialist Anne Kimel.

*** This release is originally published in Turkish.
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İSTANBUL (TR) - The active period that the investment ecosystem in Turkey entered with the year 2021 continues. According to Central Registry Agency data, the number of individual domestic investors in Borsa Istanbul reached 2 million 664 thousand 621 in April with an increase of 19.12% compared to the previous month. While the size of mutual funds was 184 billion TL, according to the Capital Markets Board, the size of the institutional investor portfolio increased to 412 billion TL.

Binomo Special Projects Specialist Anne Kimel stated that “trust” continues to be the most basic criterion for investors in this table and made an assessment on the subject: “Trust is very important for financial transactions. Individuals and organizations want assurance that their transactions are processed and completed in a transparent manner. At this point, it should adopt the principles of transparency and accountability in all financial instruments.”

“They must speak the same language as the investor”

Pointing out that the focus of trust has shifted from people to technology today, Anne Kimel also touched upon the features that investors attach most importance to when testing online trading platforms. Kimel said, “Communication is the building block of the online investment ecosystem, just as it is in our daily lives. The investor should be able to find an interlocutor or a resource in order to understand the operation of online trading platforms, to solve the problems he encounters, and to resolve the question marks. In order to trust the relevant addressee or source, he/she must be able to speak the same language as him/her. So someone should understand it in their mother tongue and find answers to their questions. As Binomo, with this awareness, we continue our activities in Turkey with our Turkish website, and bring together the customer representatives who serve in Turkish with investors and investor candidates.”

“It must be the basis of assurance” 

Saying that investors in the digital world rely on evidence, not statements that they are safe, Kimel said, “Indicators such as how much they are preferred and how many transactions they take daily are more valuable and realistic than what a platform tells about itself. The fact that they are approved by international organizations with authority means that they are the basis of the assurance. For example, Binomo, which operates in 133 different countries, has an average of over 1 million transactions per day. It is also licensed by the International Financial Commission, which oversees many different platforms. It has been in the Commission's "A" category since May 2018, the highest, most reliable category a trading platform can be found in. In this way, investors are secured up to 20 thousand euros under the Commission's compensation fund in case of any dispute with Binomo.”

The priority goal is to increase the quality

Anne Kimel pointed out that platforms that see investors and investor candidates only as a source of income and that follow policies to increase the number of customers cannot gain a place in the ecosystem in the long run: “Raising the number of players in the investment ecosystem is of course important in terms of encouraging people. However, focusing only on quantity does not go beyond harming both investors and the dynamics of the investment world. The important thing is to guide people on their way to become successful investors, and to work towards increasing financial literacy and quality transactions. In this context, we, as Binomo, explain how to trade on the platform, interfaces and the logic of investment with the demo accounts we have defined for new users. However, if their technical analysis and chart interpretation knowledge is weak, we allow them to consolidate these skills without taking any financial risk. Thus, we bring investors who have developed themselves in this field and who trust their competencies to the ecosystem. For this, we also go to encouraging practices. Finally, we are giving away a double bonus to users who join our platform with the 'TR100' code throughout June.”