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Rebranding of CFDs Brokers: “It Was Costly, but We Have More than Made Up for It”
26 Degrees, Taurex, Admirals and Vantage Markets: Finance Magnates talked to CFDs firms that underwent rebranding.
The first part of the series discusses strategy, customer trust, cost and “opportunity cost”.
Invast Global, Zenfinex, Admiral Markets, and VantageFX were only a few forex and contracts for differences (CFDs) brokers that are now operating with a new name. While some have taken a completely new identity, like 26 Degrees and Taurex, others stayed close to their legacy identity with names like Admirals and Vantage. With the new year ahead of us – time for renewal and transformation – we delved into the aftermath of such transformations to uncover the secrets, regrets, and advice emanating from these changes.
The decision to rebrand is tough. It can undo the brand value companies have built over the years, especially for retail customer-centric companies like brokers. So, companies take calculated risks and plan for months, if not years, before rebranding.
Retail FX/CFDs brokerage brand, Vantage, rebranded but aligned with its legacy name.
“As a licensed CFD broker, we operate in a highly saturated yet fragmented industry. We recognised that it was crucial to allow our brand to stand out and find our unique positioning in this crowded market,” Geraldine Goh, the Chief Marketing Officer at Vantage Markets, told Finance Magnates.
“Combined with our findings from a comprehensive competitor audit and extensive customer research, we worked to establish Vantage, a refreshed brand that was consistent across our brand architecture.”
Read the full article on Finance Magnates.