The Retail Forex Industry’s Bad Behavior and Reputation has Consequences.
When all participants in the Retail Forex Industry unwittingly conspire to damage the reputation of their own livelihoods, it is rather notable. Regulators were installed all over to protect the industry and clients, but they have done nothing to prevent what has happened. Traders lost money, brokers acted like casinos, service providers sold flim-flam without any accountability, and ALL THAT SPAM. Now Silicon Valley has stepped to the plate and decided to punish the industry for their sins. Major promotional changes have taken place recently and traders need to know about it because there may be more of this marginalization to come, which means that there will be fewer options in the future.
Google and Social Media Advertising Prohibitions
Google, Twitter and Facebook have cracked down on advertising. Twitter and Facebook cracked down specifically on binary options and cryptocurrencies, but Facebook’s language could be rather flexible and include anything in the Forex domain.
Twitter has the most liberalized policy, but there are geographic limits. However, advertising on Twitter is not exactly effective for Forex Brokers considering the prevalence of bots and political bloodsport.
However, the biggest development is Google. It’s not enough that there are required licensures and landing page requirements to meet Google’s needs. It goes beyond what was originally imagined and it impacts more than just Google Pay-Per-Click through Search Engines and various forms of display advertising. Google Ads (formerly Google AdWords) made a major change in their Financial Services Advertising Policies.
This would all seem like not a big deal, but this is a surface-level policy decision. As odd as it may seem, there are ways to get around the policy and Google weirdly encourages it, but at the same time is causing havoc for those trying to gauge traffic through Search Engine Optimization. Google actually scrubbed their Keywords Tool of any mention of the terms ‘Forex’, ‘Bitcoin’, or ‘Cryptocurrency’.
Pushing the way that ordinary people can interact with the World’s Largest Global Market by Volume to the fringes will result in a lot of jargon used to obfuscate what exactly is being transacted and packaged. It is an act to discourage parties in the industry, Google and tech giants hold a great deal of sway in making and breaking companies.
Compound this with what is to come a week from today in Europe as the new restrictions are to be in place. Retail FX is experiencing a major shakeup.