Story by Jeff Patterson from ForexMagnates.com
Football fever has spread to several forex brokers and binary options providers as the World Cup has officially gotten underway in Brazil, while the Brazilian Real has surged higher in light of the games.
MetaQuotes Establishes Office in Brazil
With the world spotlight firmly fixed on Brazil, several brokers and providers have taken the opportunity to establish their presence locally or partake in the revelry of the games, offering a series of promotions and unique ways to enjoy the experience. One of the most established names in Forex, MetaQuotes Software Corp., has opened a representative office in Brazil with emc2Trading Solutions as its official agent in the region – the first in the Americas.
Meanwhile, ahead of the FXIC Conference taking place June 20th in New York City, organizers have announced its newest addition, i.e. the Shift Forex World Cup Lounge for attendees. The lounge helps provide attendees with unabated coverage of the tournament, ensuring live World Cup coverage throughout the day.
Tradologic Launches Soccer-Based Binary Options Offering
In addition, binary options provider, Tradologic is offering clients options based on stock price fluctuations of the top soccer teams in the game today, starting today. In particular, the binary options are based on stocks of the following teams: Celtic F.C., Borussia Dortmund, AFC Ajax, A.S. Roma, F.C. Porto, Manchester United and Juventus F.C. According to Gil Erez, Head of Business Development, in a recent statement on the offering, “The world is football now and this is a great opportunity for the people from the financial markets to stay connected to the football emotions for the next 2 weeks. This addition is absolutely bridging the sport-betting and financial worlds and will further expand the wide range of assets TRADOLOGIC currently provides.”
Brazilian Real Advances against Major Currencies
According to the Brazilian Tourism Ministry, roughly 600,000 foreigners are expected to be in attendance during the course of the games, which has thus far helped drive the value of the Real higher. This should be an interesting trend to watch as the games continue and with thousands more tourists pouring into the country everyday.