Traders prioritise convenience, profit, and security

When it comes to what a forex trader wants the bottom line is, simply put, the bottom line. Traders are playing to win so when it comes to picking a brokerage they’ll pick the one that they feel is going to help them make a secure and significant profit. The factors they look for derive from this, but let’s get into specifics so potential traders and brokers know what to look for and what to offer respectively.

A Service You Can Trust

Any savvy surfer knows the internet—now the home trader’s platform of choice—is riddled with more scam artists and fraudsters than a caricature of New York, so they’ll be looking for a brokerage without any perverse incentive structures that would allow brokers to profit from their clients’ loss. One good sign of this is how much effort they invest in developing traders.

Users are often concerned about security; they want to know that the gains they make are safe in the event of the unforeseen and that their brokers have made themselves ready for the fallout that could upset the market.

Ease of Use

For a long time the received wisdom has been that users of any service want the provider to “go the extra mile”. However, research from the last couple of years suggests that while this is good, most people’s primary concern is convenience. They want things to just work.

That means offering a platform on as many devices as possible—most are now available as smartphone apps—with an easy to read and easy to use interface. It also means that speed is essential. When a trader makes a trade they want it to be made with no slippage so they are never disadvantaged by a change in the market between the agreement and the actual exchange. This also means some “bells and whistles” are indispensable; calculators, alarms, and newsfeeds all serve to make the user’s life easier.

In Conclusion

Traders, look for a broker who offers the tools you need and makes them easy to use, and brokers, be that broker.