Best Brokers For Customer Service

The best brokers for customer service aim to improve the overall trading experience by providing effective and helpful support promptly. The top online brokers offer multiple contact methods, languages and reliable opening hours through an efficient team. In this tutorial, we explain why you should choose a broker with good customer service and the different support channels available.

Why Customer Service Matters

Customer support is a factor that is often overlooked when traders compare brokers. Investors tend to be drawn to a brokerage’s fees, spreads and account types, rather than looking for a reliable customer service team. However, responsive support can be just as important, especially for beginners.

The brokers with the best customer service make it easy for you to get in touch. They clearly list the available channels, opening hours and contact details. This means that, should you encounter difficulties while swing trading, such as account, payment or trading issues, you can get them resolved promptly. Ultimately, this can help improve the overall experience while reducing stress.

Support Channels

Online brokers tend to offer customer support via several channels:

Indirect / Delayed

Non-invasive contact methods are perfect for swing traders who may be busy at work during the day or cannot set aside a particular period to deal with an issue. With these options, traders and customer service representatives can respond at a time that suits them:

• Email – Almost all the best brokers for customer service provide an email support address. It is one of the simplest and easiest to use methods. The trader simply needs to give a subject and then describe their issue within the email. Once sent, the broker will then get in contact as soon as possible, either to state they are working on a solution or to request more information. The broker and trader can then respond back and forth until the issue is resolved.
• Social media – This is a newer contact method, but one that many swing traders are using to get in touch with brokers. The investor can state their issue in a post with the broker mentioned in it. Sometimes, following a post, such as a tweet, the broker will get back in contact via a direct message. One of the benefits of these methods is publicity. Anyone can see a post online which incentivizes the broker to solve it effectively.
• Contact forms – The trader experiencing an issue can state so on the broker’s website and provide an option for the company to get back in touch. This could be via email, phone or text message. This allows the broker time to come up with a solution before they contact the trader.
• Text – Another form of non-invasive contact is text messaging. It is similar to email, though less formal. Brokers and customers can communicate with each other via a series of messages. For some investors, text messaging may be more effective and accessible as they do not need to rely on access to a laptop or WiFi connection.
• Forums – Traders can post an issue they have at a broker on an online forum. This method is similar to using social media in that posts are public. The broker’s team can respond to the post with a fix for the issue, or another trader could post some helpful tips if they have experienced similar problems.

Direct / Live

The other way to get in contact is through live support channels. These methods allow the trader and broker to talk directly and immediately with each other to understand and resolve any issues. The best brokers for customer service will support at least one of these contact methods:

• Phone – Most brokers provide a phone number for their support team. It is one of the most popular contact methods and is usually effective. The trader talks directly with a member of the support team and explains the issues they are experiencing. The team member can glean further information from the customer to help solve the issue. This is particularly useful when encountering problems that are not clearly defined and where the trader may not be sure what is wrong.
• Live chat – Live chat is another popular method. The trader talks with a support member over a chat system usually hosted on the broker’s website. Like a phone call, the team member can ask further questions to find out more about the issue. Some traders may prefer to speak via live chat as it feels less personal than a phone call. One key benefit of live chat is that you can also send pictures to help explain issues.
• Chatbot – A chatbot is like the live chat method, except that instead of speaking to a team member, you speak to an AI system that has been programmed to solve repeat issues. This type of method is only suitable for basic issues. And if the bot cannot help, it will put you through to the live chat system.

Customer Service Examples

If you are still unsure why you need to look for the best brokers for customer service, this example of a bad experience may help convince you. Imagine a scenario where you have attempted to withdraw some of your funds. On the broker’s website, it states that withdrawals through your chosen payment method can take one to two business days. However, after five days the money has still not appeared in your bank account. When you contact the customer support team it takes two hours for them to call you back and they are rude on the phone. They are also unhelpful, requesting a range of difficult to obtain documents. This leaves you unsure when you will receive your money (if you ever do).

Now, had you been trading at a broker with good customer service, the experience could have been very different. Firstly, the team would have responded to you in a timelier manner. Secondly, they would have been friendly and respectful on the phone, taking the time to understand the issue and empathising with how it has affected you. Finally, the broker’s team would have actively sought to solve the issue, searching for ways to find the money without making you jump through hoops.

 Benefits of Reliable Customer Support

The key advantages of the top brokers with customer service include:

• Available whenever an issue occurs, including the weekends
• Less stress and downtime as issues are resolved quickly
• Ability to contact support teams via multiple methods
• Improved overall trading experience
• Multilingual support

Comparing Brokers for Customer Service

Now you know why it is important to find the best brokers for customer service. The next step is learning how to compare them:

Contact Methods

One way to compare brokers for customer support is to look at the different contact methods they provide. Ideally, they should support multiple options, including a range of indirect and live conversation methods. All contact details should also be clearly listed on the website, making it easy for you to get in touch.

Opening Hours

Brokers will offer help during varying hours. The best brokers for customer service will provide 24/7 support, allowing you to get in contact whenever an issue occurs. Other platforms may limit their opening times to set hours during the day or restrict it to weekdays. Optimal opening hours for you will also depend on the assets you are trading. If you are trading markets that close on the weekends, 24/5 support will suffice. However, if you trade cryptocurrencies that can be bought and sold on the weekends, you should look for 24/7 assistance.

Languages

This aspect may not be important to all traders, but international customers may view this as a key metric. The best brokers should provide support in languages that are native to the regions they operate in. Always ensure your chosen broker provides support in a language you are fluent in or confident using.

Knowledge

The support team should know the brokerage inside and out. This way, they will have the knowledge base to solve any issues that may occur, or they will at least know the right specialist to transfer you to. This may seem like a hard metric to measure without dealing with the team. However, one way to check is to look at online reviews. These will often state how helpful the support team were and how effective they were at dealing with challenges.

Bottom Line on Brokers With Customer Service

The top brokers for customer service improve the overall trading experience – reducing stress and solving issues swiftly. Leading firms should provide multiple contact methods and are available most of the time. Use our comparison guide to find the right swing trading platform for you.

FAQ