Where IQOption has the highest number of traders in Latin America
Currently IQOption top countries are Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Peru, and Venezuela.
The right information can make or break a marketing a strategy. And with the right strategy, you can figure out how to best work with different traders. Which, in turn, will help you in increasing your profits. To help you with that, we are starting a series of newsletters describing various regions. The first three letters (including this one) will be about Latin America. Today we will tell you general info about this region and how the IQOption platform works with it: what countries are included, most used languages, favorite currencies and payment methods, and the most widespread devices.
Latin America, while not the most stable of regions, is the one with a good perspective and economic growth rate. The latest forecasts show that local countries’ GDP is bound to grow significantly by the end of this year and will probably continue doing so. So it would be best not to miss out on a chance to look into some promising countries.
The Latin America region consists of the following countries:
If you wonder about what countries to concentrate your efforts, here is the list of countries that have the highest number of traders and the biggest LTV:
- and Costa Rica.
Countries are sorted from highest to lowest.
As Latin America is a diverse region, there is a wide spectrum of different languages, from European to native ones, but the most widespread language in the region is Spanish. In all countries except Brazil, where most people speak Portuguese, Spanish is a state language. Despite the fact that English is the third most popular language in the region, only a small number of people can use it well. Other European languages, along with native dialects usually have a lesser amount of speakers, around 10% and less, so we don’t recommend using either English or them for marketing purposes. Our platform isn’t an exception, as most IQ Option traders in Latin America prefer either Spanish or Portuguese, so you know what banners and landing pages to use.
Currencies and Payment Methods
It comes as no surprise that most people in the region pay with their country’s currency in their everyday lives. However, IQ Option traders from Latin America trade and make deposits in the US dollar, or the Brazilian real (Brazilian traders).
In terms of payment methods, cards are the preferred ones on our platform for this region, with only Brazil, Venezuela, and Colombia differing. Brazil traders use Boleto to deposit funds, and Colombian and Venezuelan traders prefer Skrill along with cards. Let’s stay on the topic of Boleto for a little while. It is essentially a cheque form that is available for people who do not have a bank account, which is a majority of Brazilians. That, along with its recent support for online transfers, makes it so popular in Brazil.
Traders in Latin America prefer the desktop version of the I Option platform, with 50-52% of users on average preferring it to mobile. Android comes in second place, with iOS placing third, with only Brazil having iOS as a second-most used platform. So if you want to include Brazil (which is highly recommended) in your Latin American marketing campaign, take that into consideration.
IQoptions provides promo materials for all devices, including Desktop, Android, and iOS. Check out their Spanish and Portuguese landing pages and banners, and use them to work comfortably with Latin American traffic.
IQOption South America Statistics
Now it is time to have a look at some statistics related to the IQ Option trading platform. We constantly monitor and analyze our users’ behavior, and today we are pleased to share some valuable data with you so that you could plan and customize your marketing campaigns. Let’s dive into the figures and take a look at our country rankings based on different criteria: FTD conversion rate, deposit amount, etc.
Conversion rate (CR) to first-time depositors (FTD)
A very important acquisition metric is conversion rate (CR) to first-time depositors (FTD), or FTD conversion. This parameter shows a percentage of registered users that have made their first deposit. IQoption most recent ranking is topped by Costa Rica, followed by Brazil, Peru, and other countries as shown in the table below:
Handy tips: The greater %CR to FTD, the higher your chances to get profit from registered users attracted to the platform. Nevertheless, you should always pay attention to the number of registrations in a particular country. Why? A lower CR does not necessarily mean that a country has fewer FTDs. For example, take a look at Brazil. Actually, it has a higher number of FTDs because it is a big country with a large volume of traffic.
Percentage of users depositing over $100
The next ranking is based on the percentage of users depositing over $100. The average result ranges between 19%-27.5%, with Argentina topping the ranking. Costa Rica and Mexico take the second place (26%), while Chile wins bronze with 24.5%:
A little insight about iqoption deposits in Latin America
As you might remember from our previous email, IQ Option clients from Latin America trade and make deposits in the U.S. dollar, while traders from Brazil use the Brazilian real (BRL). The minimum deposit amounts in these currencies are $10 or 20 BRL.
Handy tip: highlight the minimum deposit amount in your promo materials.
Favorite payment methods
IQOption has a variety of international and domestic payment methods available to traders. Traders from most Latin American countries usually deposit funds via bank cards. Nonetheless, bank cards are not the only payment method used in the region. For example, Brazilian traders often choose Boleto, while Skrill takes the second spot by popularity in Colombia, Peru, and Venezuela. Pago Fácil, a local payment system, is supported by the IQ Option platform and is widely used by traders from Argentina.
Handy tip: let traders know which payment methods are available to them on the IQOption platform. Include the most preferred ones, always with logos, in iqoption promos.
Preferred trading instruments
Favorite trading instruments are key to making marketing campaigns hit the target. Our users from Latin America like fast deals, that is why they choose binary options (41%-62%) or digital options (22%-37%) to trade. Forex is popular among 6%-10% of traders. CFDs are traded by 3%-6% of users, and so are cryptocurrencies.
Handy tips: You may choose to promote the most popular trading instruments, but keep in mind that users vary their behavior and do not always act according to the ad message. Nevertheless, additional tutorials, articles, posts, and other educational materials wouldn’t go amiss. Get ready-made marketing materials in the Promo section. IQoption always tests the effectiveness of their landing pages and include them in this section only if they prove to be successful. If your own marketing materials produce even greater results, feel free to use them to the maximum.
IQoption Argentina – deposit restrictions
On October 31, 2019, the Central Bank of Argentina imposed some restrictions on the use of international payment methods in the country. Argentina’s financial regulator has stipulated the maximum deposit amount from bank cards – $50 per operation. Moreover, traders from this country cannot top up the balance of their Neteller, Skrill and other digital wallets. An alternative valid payment method that some clients are using is Mercado Pago.
If you are already buying or planning to attract traffic from Argentina, we recommend that you adjust your budgets and consider other top Spanish-speaking countries, such as Colombia, Peru, Chile, or Panama.
Now that you are armed with the most important figures about our traders and their behavior, you can adjust your existing campaigns and plan new ones better.
Now that you know the ins and outs of the Latin America region, it is time to create your marketing campaigns and rake in profits.