Trading in forex is exciting; it allows one to take control of their finances by buying and selling assets to increase investments. However, getting started in the world of financial trading is difficult, especially if you are new to financial markets. Many traders lack market knowledge, let their emotions get the best of them, have difficulties navigating the trading platform they use, experience customer service issues, and/or slow and ineffective withdrawal processes.
This article will dive into all the above issues and see how one of the top forex brokerage firms; LegacyFX, tackles these issues for its customer base, thereby providing them with the best possible trading experience.
People often get into trading not because they are interested in the market or want to learn how to trade, but because they want to increase their personal revenue quickly. However, solely relying on this sentiment can prove risky, as investors should instead be realistic about what they can get out of the market. To do so, investors, especially new ones, should first equip themselves with enough knowledge of how markets works, learn how to craft a successful financial strategy, analyze data, charts, technical and fundamental analysis, and information, and practice until they are comfortable with it, before they can truly feel experienced in it and see results. Educational materials on trading financial markets are easily accessible nowadays for any type of trader, either by brokerage firms that supply educational content through their platforms directly, or via searching the internet and other financial resources open to the public. Overall, such basic trading skills can greatly improve traders’ chances of success. Many traders fail to realize that trading is not black and white, but instead is unique to each trader. Therefore, each trader should educate themselves according to their financial goals.
Another trap for traders is being led astray by their emotions. Some investors act irrationally and make risky trading decisions, especially when a position they have taken goes in the opposite way they intended. Sticking to a strategy and maintaining a proper trading psychology allows one to maintain objectivity, observe the market clearly, and react more precisely. Taking this into consideration, it is advisable to experiment with different trades for different holding periods, implement different strategies, and carefully analyze the results. Doing so along with a proper financial background and education and understanding the fluidity of financial markets can greatly reduce one’s chance of acting irrationally when trading.
Choosing the right trading platform for a beginner trader can be difficult. Different platforms are available on the market, but not all of them are simple to use or can assist a novice trader in taking the first steps. A successful trading platform should first and foremost provide traders with a convenient to use system through which to trade multiple types of instruments, thereby allowing traders to diversify their portfolios. Additionally, they should include analytical and educational tools that are friendly, simple, and helpful for investors to make appropriate decisions, while still providing the highest chances of profiting. Now, because many trading software are online and a lot of personal information is shared, providing security for users is essential. Providing a secure system that is easily accessible is also paramount. Since many trading platforms do not provide investors with the most complete and fair experience possible, it is important for investors to search for the platform that gives them the best possible experience per their trading objectives.
Customer service can make or break a company, and the financial industry is no exception. It necessitates more than just how customers are treated. It’s all about providing customers with overall satisfying services. Traders occasionally run into customer service experiences that do not make the trading journey convenient or easy for them, leaving them to solve their problems on their own. In other cases, customer service fails to earn traders’ trust by paying attention to small details such as responding promptly, meeting deadlines, and providing clear support. Therefore, investors tend to go for brokerage firms that provide them with convenient ways to reach out for and obtain help. However, such help is not just limited to customer service representatives who answer questions, but also agents who can assist them with specific trading concerns. Other ways include intuitive content, self-service educational resources, glossaries, videos, and various trading tools, all of which can make one’s trading experience more palatable and easier to navigate.
Another issue current investors face, and possibly one of the most important, is making withdrawals. Due to checks and security concerns, some brokers may take longer to process withdrawals. Furthermore, not all brokers clearly display their withdrawal options and policies to their customer base. This may be in part due to security protocols they have. However, failure to provide such specifics can make an investor’s choice of brokerage much harder. As such, it is important to provide transparency of all services and options, as investors want to know that not only are their funds safe, but that they have convenient modes through which they can withdraw their earnings, which is sometimes the prime reason why traders begin investing, i.e., to obtain profits.
Now, that we understand the situations in which investors find themselves and the significant issues they face while trading, let us look at how LegacyFX; one of the top brokers in the industry, assists its clients and provides solutions.
Even someone with little to no trading experience can quickly learn how to trade with LegacyFX. They provide a wide range of educational materials for both beginners and advanced traders. For example, someone new to financial markets can benefit from their easy-to-read electronic books, which cover a wide range of topics such as how the market works, market terms and glossaries, insights into various analysis measures, etc. Through such offerings, their traders learn about and apply fundamental financial concepts, better understand how forex works, and see what can be traded per their financial knowledge and goals. More experienced traders can also benefit from this broker’s resources. They can use provided content that explain more complex trading strategies, provide an in-depth look at advanced trading tools, and employ additional assets that make trading seamless with this broker.
When entering the financial markets, investors must choose the right trading platform that will cater to their specific needs, trading style, and volume. Trading with LegacyFX has the benefit of using one of the most popular and trusted third-party trading platform providers–MetaTrader 5. This platform retains the benefits of its predecessor, MT4, while supplying numerous new features. It can be used on your smartphone or tablet to keep up with important market news and trends and trade currencies, stocks, commodities, and cryptocurrencies. Additionally, it provides traders with technical indicators, market direction signals, and the ability to adjust buy and sell positions. Aside from this advanced system, LegacyFX delivers to its customers quality trading signals, which are generated by Autocharist, a reputable third-party signal provider. All-in-all such features show how this brokerage retains customers by providing them with the most advanced systems to use when trading.
Good customer service entails more than just treating customers well; it also involves communication and professionalism and the development of trusting relationships with customers. LegacyFX is proud of its customer support experts, who are available 24 hours a day, 5 days a week to address and assist traders with any issue they may encounter, such as log-in issues, deposit or withdrawal issues, or platform difficulties. Customers can contact their customer service team via live chat, email, or phone. Additionally, LegacyFX provides its clients with personalized one-on-one support and training on financial markets. While such agents do not in any way purport direct investment or trading advice nor directly supply specific actions to trade on, they do provide this broker’s clientele a way to better understand financial markets by guiding them on how to read and understand strategies, charts, signals, and various assets. Such intimate mentorship is greatly beneficial to clients who lack the basic foundations of trading, as it provides them with a live person to direct their concerns to.
The withdrawal procedures at LegacyFX are very smooth and quick. Depending on the method used, typically the entire process takes between two to five days. Compared to other brokers’ withdrawal processes, this is a relatively short time. The broker also makes every effort to protect all parties involved in the transaction from fraud or money laundering. Another benefit of LegacyFX’s withdrawal procedures is the variety of payment options available to traders. This broker supports credit/debit card, e-wallet, crypto, and bank wire withdrawals. Providing such a variety of options to its traders makes this broker overall easier and more convenient to deal with then others.
In conclusion, LegacyFX continues to expand and attentively responds to customers’ concerns and difficulties in the foreign exchange market. It assists traders in their trading journey by offering a wide range of educational resources and materials, a trading platform, professional customer service, and the quick processing of withdrawals, all of which make for a well-rounded broker to work with. Thus, it is no surprise as to how and why this broker is consistently ranked as one of the top firms to trade with in today’s world of financial trading.
So, join LegacyFX now and take advantage of trading with them!