In a competing environment, trading platforms and brokers must be creative in order to stand out from the crowd and attract traders. Whether it is FX trading, binary options or crypto trading, they usually compete on spreads, payouts, execution time, UI, etc. A new trend is emerging : trading gamification. As the term suggest, it merges the gaming and trading universes. How, why and some examples… This article delves into trading gamification, a hot topic in the financial applications world.
Trading and gaming merged
Trading and gaming are 2 activities that have been gaining increasing traction in the last few years. The former is about increasing his wealth in an entertaining way. The latter is purely about fun. Although it’s arguable since money earning games are now appearing (Betverse, for example), and esports allow the best gamers to live out of their passion. But what if trading and gaming were mixed together to get the best of those seperate universes?
Why trading gamification?
When a beginner is exposed for the first time to trading, it can be daunting. All those graphs, those indicators, those terms like Bollinger bands, Fibonacci retracements, DMA, RSI can push away novices. For those who get through that first barrier, day trading is undoubtedly very exciting at first. But the enthusiasm can rapidly decline as it becomes routine.
The gamification of trading spices things up by adding gaming ingredients to the relatively boring environment of trading. The experience of the trader can be enhanced by cosmetic perks or items that put him in a better position to profit from successful trades.
Gamification of trading : an example with Spectre
Spectre, the brokerless digital options platform, has engaged in the game discussion of trading by releasing Trader’s bay. Traders can buy daily various gamified items to increase payouts, increase trade size, get a special bonus for 3 wins in a row, etc.
- Charms are cosmetics that can be used to alter the trader’s visual screen.
- Spells allow to incease payouts from 1 up to 5% per trader’s
- Enhancements allows the subscriber to reduce the spreads, increase the number of open concurrent positions, etc.
Those options enrich the trading experience with gaming inspired elements for even more excitement. The trader has to weigh in the investment of each options, define which one are the most rewarding. It’s not only about the simple binary options trading. Want to have a go at it? Click on this link to register, it’s 100% free.
Trading gamification is a new trend that purse various objectives. For digital options platforms, the first aim is to differentiate from their peers by offering innovative products and solutions. However, gamification of trading also helps in attracting new people to the sphere. To demonstrate that once one is familiar with trading basics, it can be a very fun and fulfilling hobby.