Forex Comparison Site Benefits For Forex Traders
I was chatting to a friend not too long ago about day-trading shares. He and I often have robust conversations about certain stocks we believe or see potential in. Our share portfolios are not that large, this is no secret. Like many investors, we’re trying to improve this in part by investing in a few small cap stocks we hope could help us earn many multiples of our initial investment over the long term (fingers crossed).
On this particular occasion however, we were talking about the day trading of stocks. My friend is not a big believer in day trading shares. When he feels like he wants to increase his risk profile a bit and try to make a quick buck he’ll trade forex.
Having a keen interest in foreign exchange, I started quizzing him about the forex trading platform he uses, why he uses it and the reasons for choosing this particular forex broker in the first place. He couldn’t offer me a convincing answer for any of these questions. He said he was bored in a lecture at university the one day; saw an advertisement for CMC Markets and within about 15 minutes of doing some very preliminary research, opened a trading account. I asked him what features in particular he was looking for in his “lengthy” research to which he replied, “the company with the biggest new account bonus.” A number of years have passed now since he opened his CMC Markets Forex trading account but still he remains loyal to the brand. This is despite his trading circumstances changing significantly; he’s more experienced now and trades with a lot more money. He says he would change brokers but there are so many Forex companies out there and he doesn’t know where to begin to compare them?
And this is one of the major reasons why we started Compare Forex Brokers! We have segmented the Forex market into a number of niches and compare Forex companies’ services within each niche. If you’ve ever tried to research a Forex broker by visiting their website first, it is more than likely you’ve switched off and decided to spend your time doing something more productive. It’s not your fault. Companies operating in the Forex industry don’t invest a lot of time or effort in clearly communicating the features of their business to potential clients. A lot of the time this responsibility is left to experts in traders’ forums or Forex comparison websites laced with affiliate banner ads that only distract users and over-complicate this research process.
Improving The Research Process
Here at Compare Forex Brokers we are all about the user and trying to perfect their research process. We understand the value and impact a comprehensive comparison website can have on this experience and try to ensure that just the right amount of information is available to clients. We get currency trading but where we differ is that we also have the added benefit of knowing exactly what searchers are looking for in a comparison website. We have a successful track record managing comparison websites in other industries such as Health Insurance and Telecommunications.
What we’ve learned is that industries and businesses are constantly evolving. As technology improves trading platforms become more efficient, new payment methods are made available and new commodities such as Bitcoin can be traded, in addition to currency.
Our commitment to our clients is to constantly keep up to date with these trends and reflect these changes in our comparison tables as swiftly as possible. This is to ensure traders are ALWAYS making the most accurate decision when it comes to selecting a Forex broker.
In today’s world people are in a rush to make decisions. We will help you make that quick decision when it comes to selecting the right broker for your needs. However, you can rest assured that when your Forex decision is made through Compare Forex Brokers it is accurate and considered. If only we were around when my mate opened his first trading account?