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The Forex Customer Support Challenge: Trader's Way

May 31 2013

The three weeks of the customer support challenge are now over, and it's time to see what happened there and who won the title and the $1,000,000 prize. I'm kidding, there's no prize. If I had a million dollar, I'd definitely keep it to myself instead of giving it away. 

The last contestant in this last week of the challenge was Trader's Way. Its customer support can be described in a single word: meh. I was not impressed – at all. See the entire conversation below. 
Looking at all five brokers that we talked to this week, we have an obvious winner that just blew off the competition: SkyFX. Let's take a look at the Week 3 leaderboard: 
1. SkyFX – 25 points
2. Trading 212 – 22 points
3. Oanda – 13 points
4. Trader's Way – 11 points
5. AAAfx – 0 points
Well done, SkyFX! Keep up the good work! 

The Customer Support Challenge: Trader's Way

Operator Alex has joined the chat.

Alex: Hello, thank you for contacting us! How may I help you?

Hannah: Hi there. I want to start trading forex but I have a few questions first - maybe you can help me? How much is the minimum deposit I should make to open an account with you guys?

Alex: $10

Hannah: Can I actually trade with this kind of money though? Isn't it too little?

Alex: yes, you can. leverage 1:1000 and you can open 10000 usd position

Hannah: So can I buy gold with this $10,000?

Alex: no. if you have 1000 leverage for the account you will have 1:250 for gold

Hannah: How come?

Alex: min deal size for gold is 0.1 lot

Hannah: But if i deposit $1000, then I can buy gold, right?

Alex: sure

Hannah: Cool. When I buy the gold, do you ship it to my home address?

Alex: no. buying gold you open a contract and you have to close it by selling gold

Hannah: But what if i want to keep it and have it delivered?

Alex: that's impossible

Hannah: I'm afraid I'm a bit confused - do I have to come pick it up from your office?

Alex: we don't sell gold physically. you can trade price changing

Hannah: Oooh, I see. So you don't keep any gold at your office then...

Alex: we don't

Hannah: Bummer. Although it might be a good thing - if there was any gold there, people might be tempted to steal it, don't you think?

Alex: you're right

Hannah: So how much gold can i buy with $1,000?

Alex: about 2 contracts

Hannah: That sounds good. What else can I trade with you guys?

Alex: currencies, indices, oil

Hannah: What kinds of currencies? Can i trade any currency that i want?

Alex: [link to trading instruments]

Hannah: It says there "AUDCADi" - what does the “i” stand for?

Alex: you buy and sell australian dollar for canadian

Hannah: Yeah, I got that much - but what's the letter "i" at the end for? I have seen it with other brokers just as AUDCAD, without the "i" in the end.

Alex: it's just for technical reasons

Hannah: Oh... i thought it was for "impressive" or "interesting" LOL

Alex: no

Hannah: Pity. Where are you guys located?

Alex: in Dominica

Hannah: Aw.. I envy you then - I've always wanted to live on an island... Do you enjoy it?

Alex: we do our work

Hannah: No fun at all?

Alex: May I help you with something else?

Hannah: Ah, I see - you're all about work, strictly professional. I get it. I have one last question: what deposit options do you accept?

Alex: [link to deposit options page]

Hannah: Ok. Thank you. Bye!

Alex: good bye

The Sentence

Response time: 
Accuracy of the answers:
Personal attitude:
Sense of humor: 
Overall score: 11/25
Overall impression: If there's one thing I learned about Alex, it's that he or she is no fun. At all. No sense of humor whatsoever. 
Then there were the answers. While they were correct, Alex didn't bother to explain anything and game links instead of just typing the answer whenever that was possible. Bonus points for laziness, Alex! 
The chat was quick and efficient but I couldn't shake myself off the feeling that the agent was really eager to get rid of me. I know I can be a tough customer sometimes but that's just a part of the job and if you're not up to it, maybe you shouldn't work in customer service. 
More of the Forex Customer Support Challenge: 


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

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