Requirements that every broker must meet to convey confidence to new clients

At the time of investing, people not only think about the profitability they are going to get, but they also want to find security, in the sense of reducing the chances of falling victim to a scam and losing their money.

Now, because this has happened, and it doesn’t stop happening, there are requirements that every broker must meet to convey confidence to new clients. This is necessary if you want to stand out and attract investors, to be competitive in a market where there are so many offers.

In this article, we will know the elements that must be paid attention to in order to offer a service that inspires confidence, especially if you are going to start operating in a new region and the name is not so well known.

What does a broker do?

An online broker is an intermediary between the potential investor and the market which he wishes to access. In this sense, it takes into account the orders of its clients to execute actions, in relation to buying and selling assets.

This is clear to the broker, but the client does not always know this and some erroneous expectations may be created. So, the first requirement of every broker to convey confidence to new clients is to do what we do in the real world when introducing ourselves: we say who we are and what we do.

Although we are people accustomed to this cybernetic world in which we move, surely we will not feel confident if we enter a page and it is not clear to us what it is about and what we can get or should give.

Different types of broker

There are different types of brokers: forex, for professionals or not, with their platforms, dealing desk or no dealing desk, STP (straight-through processing), and ECN (electronic communication network). But does the client know this? Do they let you know on the page? In what way? Do you understand the difference between one and the other? Explaining it to him will generate greater confidence.

Trading platform

Among other things, the investor will choose an online broker based on the trading platform he feels most comfortable with and that suits his needs, that is easy to use and understand, visually attractive, and without cumbersome processes when opening accounts and trades. Any platform that is the opposite of this is not going to convey confidence to him.

Customized tools

Many online brokers make personalized tools available to their clients, within or apart from the platform, to offer better support, in order to help them make investment decisions.

Trading strategies that the broker allows

Another important circumstance, that the trader can take into consideration when looking for a reliable broker, has to do with the fact that whether or not there are limitations in terms of trading strategies and styles. Feeling a certain freedom to act can also contribute to that confidence that is transmitted to new customers.

Commissions and fees

In the same order of ideas, the investor needs to know what the commissions and fees are. Then, it is necessary to specify swap commission (for swing or long-term traders), custody fees and commissions paid to the broker (for spot stock investors), among others.

Regulation and registration

A good broker always has good regulations. And the client will prefer to open an account with a regulated broker, to prevent possible scams. In this way, it is necessary to specify the regulation by which the broker is governed, as well as the license or registration with the respective commission, if applicable; assuring the client at all times that not only his money but also his personal data will be protected.

Customer support

A reliable broker should always respond to any concerns. To do this, one of the most important things that he should show on his page is the way to get in touch. If he offers customer service, preferably in the client’s language.

But not just a simple answering machine, which wastes time and leaves the person with a feeling of frustration. This is an important requirement that every broker should have to convey confidence to new clients, especially if he is going to start operating in a new region.

Training and other resources

A plus that is not an extra, but a necessity, is to provide training and other resources for the client. It should be remembered that there are different types of investors, and for beginners, this can be a complex world, with terminology that is unfamiliar to them. Although it may not seem like it, the training and support resources make them feel important and taken into account.

A simple language

Of course, these resources and other information that are transmitted should always be done in an accessible language for most, as simple as possible. In the event that it is necessary to introduce technical terms or allude to some regulation, it is good to hyperlink to another resource where it is explained what it is about; but that it is not something external to the page, but internal.

Be selfless

Even if the client is not going to stay with the organization, he must be given all the information he requests. Lack of information affects credibility and therefore trust. In addition, just because a client chooses another broker, does not mean that he cannot return. This can perfectly happen, and more so if he got a good impression.

Be honest

Last but not least, one must refrain from distorting, misrepresenting or inventing information or making misleading offers. For example, saying that there is a regulation that is not available or saying that commissions are not charged and then charging them. The customer could find out the information in another way. And trust will be lost, forever.

To generate trust is to generate profits

These requirements that every broker should have to transmit confidence to new clients are not something exclusive to trading. And it is that, whatever the activity to which we dedicate ourselves, building trust is essential to win new customers and then building their loyalty.

Do not forget that these are people who are going to deposit their money and will always want to feel safe. So there is no need to skimp on expenses or resources. No demonstration of confidence is too much.