Trading online comes with its advantages as well as its disadvantages. One of the main disadvantages that first springs to mind is not having the right level of support when we need it most.
More importantly, being supported around the clock with little delays in receiving that helping hand we might need.
Having a direct line of contact with your broker is essential in today's world of retail trading
In recent years, thanks to the emerging market of Crypto trading as well as an array of online marketplaces, the world of Forex and Crypto trading is becoming increasingly crowded and competitive.
What is also apparent, is the need for quality customer care as online trading grows increasingly complex - in the sense that there are now so many tradable assets and differing trading conditions.
There has been an ongoing reduction in spreads across the industry which on many sites has reduced to almost raw. There are over 1,000 broker platforms online which facilitate trading via the award-winning trading platform, MetaTrader 4.
With so many features on MT4 and other platforms, this can and do go wrong from time to time - creating a need for instant access to support around the clock.
As the online trading space becomes more and more competitive, traders are now weighing up key broker features which would make them confident in depositing into. A stand out feature would be customer care.
Quality customer support should not be taken for granted when there are so many other brokers in a small space - waiting to offer better conditions to onboard you as a trader.
Exclusive support with affiliation
Many brokers in the world of Forex trading offer an ‘affiliate program’ or an ‘introducing broker’ initiative. This is where original traders can refer more people and receive a commission for each trade the referred trader places - whether it be a profitable trade or not.
An emerging STP broker in the field of Forex trading, EagleFX, is offering its users the chance to earn a healthy commission of $4 guaranteed per lot traded with scope to increase to $5 per lot - thanks to their 5 Tier Affiliate Scheme.
So what can go wrong on your trading journey?
Access
When we need support most it is more often than not having access to your platform. This can come in the shape of getting locked out of an account, not being sent platform login emails - all of which hinders your accessibility to trade your favored stocks, commodities, indices, etc.
Deposits
When depositing into a platform, depending on what method you use, you may need to check on the progress or ETA of a deposit.
When depositing into a broker you like, you may wish to consider the speed of funds going into the account and which methods are the fastest.
Using older, traditional methods such as wire transfer have the benefits of added security, however, you may need to plan your trades ahead of time with uncertainty of when exactly a wire will land.
With the administration involved in these transfers, a minor detail on a form could mean your deposit bounces or is sent somewhere else and you will not know until the 5 day deposit window expires - delaying your access to the markets. FOMO inducing stuff!
Consider depositing a more lucid method for instant access to the best trading conditions around. If you notice a market movement that can be taken advantage of - don't miss the curve waiting for a wire transfer to land and consider Bitcoin!
BTC can take a matter of minutes to land in an account and thanks to Blockchain technology, there is no need for 3rd party intervention from banks.
Although not foolproof, what can go wrong with this method is using an incorrect wallet address to send funds to or a duplicate wallet address meaning although your funds will be on the way to a broker, they may get ‘stuck’ as one wallet address can not be used more than once to send funds to a broker.
If you imagine depositing a large sum into a broker and you don't see the BTC reflected in your account, you may start to worry slightly.
You can check on the status of a Bitcoin deposit on the blockchain for confirmations with deposits generally landed after a couple of confirmations.
If you notice something that isn't quite right, such as zero confirmations, then being able to check up on your deposit with a dedicated support team is a massive plus.
At EagleFX you can benefit from round the clock client support for all of your account needs.
By using BTC as a primary deposit method, traders can have rapid access to some of the best trading conditions around.
Full support
Having access to a 'round the clock' support team will ensure that wherever you are in the world you can check on the status of a deposit helping you plan your trades more methodically intending to reach your true trading potential.
There are times of unscheduled downtime in trading when sites go through updates or when liquidity providers update their systems.
Although the best platforms actively work to avoid these periods, as with anything which is on the internet, offline time DOES and WILL happen. To combat this, find yourself a broker which will be there when you need them.
When using platforms such as MT4, downtime can impact the results of the orders you place.
Negative impacts include:
- Getting stopped out of trades
- Stop losses not being triggered
- Take profit tools not kicking in
All of the above can happen through no fault of your own, so you must find a broker which will understand this and investigate fully for you to get your funds back when warranted. More importantly, getting your funds back promptly so you can once again enter the market.
Round the clock
Having a broker that understands its clients and understands the need for transparency sets the right tone for you to feel at ease and trade with confidence.
The best brokers will offer a call back service, LiveChat with minimal queues and an email contact with fast response times.
As a consumer in the world of trading, you want to be sharp and get as much out of your research and trades as you can. After all, after putting in all of the research, the aim is to be profitable.
Leveraged trading on Cryptocurrencies is growing in popularity, especially amongst younger traders and this market is open 24/7 so it is more important than ever to have full support at all hours of the day.
Get the support you deserve with direct access to an affiliate executive for all of your account needs at EagleFX.com.
Affiliates are equipped with a range of advertising features to assist in their marketing campaigns in the shape of banners, email blasts and more!
Join free today.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
