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The Forex Customer Support Challenge: GFT

May 15 2013

I will be honest with you: when I picked GFT as the next contestant in the Forex Customer Service Challenge, I expected them to be real bad. I had spoken to the broker's customer care team once before, and had a very, very unpleasant conversation with a rude and unprofessional person, so you can see why I expected a similar convo. Boy, was I wrong – but see for yourself. 

You are now chatting with 'GFTUK10' 

GFTUK10: Thank you for chatting with GFT. May I please have your name and email address to better assist you?

Hannah: Hi, I've never traded forex before and I want to try out your platform but I have some questions first (sorry if some of them are a bit silly).
Hannah: Can you please tell me what is slippage and how can I make money with it? I read a few broker reviews and they all mention slippage but I don't know what is this.

GFTUK10: no problem at all I can help with this
GFTUK10: slippage occurs when you hit a price and then the market moves so quickly that the price has changed
GFTUK10: then the broker executes at a price slightly different to what you hit because of this
GFTUK10: there are brokers who are worse at this than others
GFTUK10: I can assure you that our execution is one of our strongest points
GFTUK10: as a broker we have no fines or warnings from regulatory bodies in the 16 years of business
GFTUK10: there are brokers out there that have been fined for slippage
GFTUK10: slippage can happen in any market, especially if they are moving quickly
GFTUK10: or in volatile times
GFTUK10: if you are trading the most common markets such as major fx pairs, major indices and commodities then this is less likely during normal market conditions

Hannah: But if the price moves in my interest, is my trade still processed?

GFTUK10: yes, there is such a thing as price improvement
GFTUK10: or positive slippage
GFTUK10: we actually have a feature on our platform that allows you to specify how much slippage you will accept

Hannah: Sweet!

GFTUK10: May I please have your name and email address and I can send through some information and my contact details to help get you started

Hannah: I'd rather ask my questions first, sorry - I already gave my email to another broker when I was asking them questions and now the keep spamming me with messages - I can't handle the pressure, I need to choose my broker at my own pace.
Hannah: I have a question about the trading software. If I open a trade and then close the trading window by mistake, what will happen to my trade? I often close things by mistakes and I'm worried I can lose money like this...

[pause of a few minutes] 
GFTUK10: sorry my screen crashed
GFTUK10: are you still with me?

Hannah: Yes. It's really funny how your screen crashed when i was asking about crashing and closing the program

GFTUK10: your trades will stay there even if you stop using the platform
GFTUK10: the orders are held on our back office
GFTUK10: The reason I asked for your details is because these conversations must be logged by regulation, that's all
GFTUK10: i'm sure you can unsubscribe from the other brokers spam or just send them an email or give them a call
GFTUK10: we don't spam clients
GFTUK10: generally just emails with new offerings
GFTUK10: or if you sign up for something through the website then we will send emails to try and help to move you forward. so just directing you to the resources on our website

Hannah: They keep torturing me - I get like one email every day from them and it would break my heart to tell them i just don't like them and i don't want to open an account with them.

GFTUK10: well if thats how you feel I think you should let them know

Hannah: But don't you think this will offend them? I'm a very kind person and I would hate to make them feel bad...

GFTUK10: I think it would be fairer to tell them how you really feel
GFTUK10: Im sure they wont feel bad, different traders like different brokers

Hannah: Maybe you're right. Honesty is always the best policy.

GFTUK10: i think so
GFTUK10: they may stop emailing you also!

Hannah: I hope so!
Hannah: Anyway, you seem like someone who would never spam me. I'm Hannah and my email is hannah[email protected]

GFTUK10: well my email address is [email protected]

Hannah: Nice to meet you, Allan :)

GFTUK10: and you Hannah
GFTUK10: would you like me to send you some guides to get started?

Hannah: That's ok, yes.

GFTUK10: is it just forex trading you are looking into?
GFTUK10: I don't know if you know much about GFT but we provide a lot of good educational resources to help new traders like yourself get started
GFTUK10: we have demo accounts and I can arrange a time to take you through it so you know how to place and protect your trades

Hannah: For now, yes. I'm a beginner and I only have experience with online bingo but my friends are like, "bingo is lame, you should try something cooler", so I figured I'd check out forex. If you can just send me the info, I will go through it

GFTUK10: that sounds good, I will send you through some information with the basics of forex trading so you can read through
Hannah: Awesome. Thank you, Allan!

GFTUK10: then just let me know if you have any questions or if I can help at all

Hannah: I will, definitely!

GFTUK10: then we can see what you need next

Hannah: good :)
Hannah: it was very nice talking to you, Allan, have a nice day!

GFTUK10: you too Hannah, pleasure speaking with you

The Sentence

Response time:
Accuracy of the answers:
Personal attitude:
Sense of humor:
Overall score: 20/25
Overall impression: As I said, I entered the conversation with very low expectations, and I was pleasantly surprised. GFTUK10, or Fraser as it later turned out, really insisted on getting my name and email, and I was very persistent in not giving them to him. So he did something else: he gave me his email instead. This made me feel at ease, and Fraser managed to earn my trust. 
What's more, he was extremely patient. I kept telling him silly things and pushing his buttons by using his last name as his first name but he kept calm and continued answering my question in a nice and pleasant manner. 
He took interest in my drama (being allegedly spammed by other brokers) and suggested a follow up (notice how at the end of the conversation he said he'll send me info and after that see what else I need) – so I felt well taken care of. 
Fraser did indeed send me info over email and I hope he won't dare spamming me – especially now that I have his email address and can spam him back. 
All in all, hats down for GFT's customer support and Fraser in particular. 
More of the Forex Customer Support Challenge: 


TAGS: forex broker  customer service  customer service challenge  best customer support 

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