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Thread: customer support...

  1. #1
    Ok, I had been considering opening a very small trading account (something like 300) and I always thought of going with Oanda due to their flexibility about standing size. Now, it's come to my attention that not all of brokers provide aid in various languages, and I wished to know how significant is for you (in case you think it's important at all) to have a broker that provides technician. Support in your native language (mine is spanish).
    Perhaps I am just being a bit paranoid here, but I am fearful the rep. can play the sorry, I don't understand you card: in case there's some trouble of any type. . .what do you think about it?

    Oanda does not appear to have customer service in any language other than English. The FXsol website has two or three versions in various languages, although the Spanish translation isn't the best I've seen. Well, FXCM has customer service but no way I am sending my precious money to those guys. . .anyway I can only trade with brokers supplying micro-lots, so. . .any thoughts?

    Thanks!

  2. #2
    Quote Originally Posted by ;
    OkI had been contemplating opening a tiny trading account (something like 300) and I thought about going using Oanda due to their flexibility about standing size. Now, it has come to my attention that not all brokers offer support in various languages, and I wished to know how important is for you (in case you think it is important at all) to have a broker that provides technician. Support in your native language (mine is spanish).
    Perhaps I am just being a little paranoid here, but I am afraid the rep. can play the sorry, I don't understand that you card: in case there's some problem of any kind. . .what do you think about it?

    Oanda doesn't seem to have customer support in any language apart from English. The FXsol site has a couple of versions in various languages, although the Spanish translation isn't the best I have seen. Well, FXCM has client support but no way I am sending my precious money to those guys. . .anyway I can only exchange with brokers offering micro-lots, therefore. . .any thoughts?

    Thanks!
    That's really a personal decision. I speak English, so don't have exactly the same problem, but you're right about the FXCM thing. I would definitely rather use Oanda or FX Sol compared to FXCM if it can be avoided. More important (to me) by far than client support is understanding that the money is not going to be taken out from my account.

  3. #3
    Quote Originally Posted by ;
    if you believe FXCM gets the customer service you want then go together. Dont believe all of the hype you hear. . .as long since you understand how a market order functions, you will be just fine with FXCM or some of the other big firms.
    I understand what you say (I have noticed that thread named market orders stinks for people who don't understand market orders, I believe that the title was something like this ). This will be a very small account to check the waters and I am only risking what I can afford to lose. So I really don't hope to double my account in a couple of days, my first aim will be keeping my $300 and then I'll attempt to start growing little by little. I know what you mean about FXCM and the hype around it, I wont be looking/trading that the intraday charts or the news. I'll trade the daily charts so I know that I should be just fine with any major retail broker.

    Anyhow, I intend to use some moderate or massive ceases, so that leaves me no other choice but to go with Oanda even if they don't have spanish customer service. If I place a trade with a 100 pips prevent loss risking only 1% of my account (300 dollars) afterward my largest possible lose would be 3 dollars so I would be trading in 1 pip= 0.03 dollars, and I understand that Oanda is the only person who will let me trade these sort of sizes. At regular brokers offering micro-lots such as FXsol I would have to trade at 1 pip= 0.10 dollars as minimum, so a 100 pips loss would cost me 10 dollars = 3 percent of my account. . .please correct me if I am wrong about something (I made all of the backtesting supposing I was going to risk only 1% of my account, perhaps I should do it and see what could happen risking more than 1% of my account on each transaction...).

    So I figure I am just a little step away from opening my first live account. I'll keep a journal here inforexforum.co.zaalso.

    Quote Originally Posted by ;
    More important (to me) by far than customer service is knowing that the money is not going to be taken right out of my account.
    I agree. . .even when I am following the rules and risking only that which I can afford to lose, I surely do not want to waste my $300. I understand that for many people around here (at least the succesful ones) $300 is nothing. . .and I am conscious that I am most likely not going to get anywhere with such a small account, but I want to make everything right. . .who knows? . . .maybe the magic of compounding will give me a little help hehe.

    .

  4. #4
    If you think FXCM has the customer support you need go with them. Dont believe. . .as long since you first understand the way the market order functions, you will be just fine with FXCM or any of the other large firms.

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