Choosing the best Direct Access Brokerage provider for you can be tricky. Most brokers offer a variety of services at different levels of quality, and determining which brokerage style best suits your personal needs requires a careful assessment of your trading history, goals and aspirations. The consequences of choosing the wrong broker may cost you thousands of dollars in fees and costs that can be avoided if you are able to define what you’re looking for. The first step in choosing the right broker requires that you establish a clear assessment of the services you desire for your personal trading technique. The next step is to define your preference of trading tools, level of support and cost. Your evaluation of the following topics will help us determine which brokerage provider is best for you.
Your preference of Trading Tools:
Some traders have a need for the highest quality of trading tools, ranging from highly sophisticated charting tools, to real time streaming news and indicators. While these services are helpful to experienced traders, they can be costly and unnecessary for those who are not familiar with trading tools or do not need them. It is important to be certain that you do not overspend your money on tools and services you do not need, and we can help you decide which market trading tools are best suited to your individual trading style.
Your preference of Customer Support:
The customer support offered by brokers range in quality and degree of attentiveness. Quality support is most useful for individuals who are fairly new to trading and require constant assistance from a representative. On the other hand, experienced traders require less customer support because they have already gone through the learning curve and acquired the knowledge to trade without as much guidance. The type of support offered by a broker’s customer service department includes assistance with tech support, customizing clients trading platforms, understanding their trade reports and monthly statements, and other requests that require a qualified representative to handle. Traders whose brokerages do not offer high quality support must deal with things like long hold times when calling, unqualified representatives, and difficulty getting direct answers to their questions. Choosing the right quality of customer support for you depends on your trading experience level, and most brokers that offer quality support are slightly more expensive than those who do not.