Over the past two decades, many novices have entered the Forex market. Some have made tons of cash. Many more have not been as lucky.
The accessibility of Forex investing that came with the advent of the internet has had contrasting effects. On the one hand, anyone could make money. On the other hand, not many knew how. On the one hand, all the information is there for the taking. On the other hand, not many are willing to take time out to learn.
One imagines Forex brokerages may have been laughing all the way to the bank. While rich clients meant big investments, it was not their responsibility to make sure every naive trader knew what he was getting into.
However, modern Forex brokerages are putting more into making sure that no customer gets thrown to the whims of fate. The Alvexo Twitter page, for example, is constantly sharing important market info, as well as relevant articles.
They do more than retweet pithy statements. Alvexo is one example of a modern Forex brokerage that actually trains its clients. It has invested in setting up an online trading academy, with all the information that will give customers the best chance of actual earnings.
One indirect benefit of the care put into these academies and resources is that brokerages can establish themselves as a world apart from those trying to fleece clients out of their money. There are unfortunately a hefty amount of Forex brokerages which are total scams.
But even those that are not scamming people are preying on naivety and desperation. They phone potential clients and market to them aggressively, no matter what their financial circumstances are. They give them no preparation, instead leaving them to fall at the first hurdle.
These companies choose quantity over quality, which only increases the need for more aggressive marketing.
Brokerages with trading academies and active social media pages, on the other hand, are making themselves accountable for the fate of their clients’ money. They are interested in giving their clients the best chance possible.
Happy clients mean repeat business and a glowing reputation within the industry.
These brokerages also open themselves up to accountability. While it is difficult to track down a company that is relatively anonymous, a brokerage with an active social media presence is easy pickings.
Not only can clients express their dissatisfaction after the fact, but potential clients can check up on the company before risking their money.
Always be responsible
The message that these brokerages are sending is always be responsible. Never invest with money that you cannot afford to lose. And most of all, don’t use a brokerage until you’ve done all the research and found them squeaky clean.