Nowadays, with trading volumes down and new clients scarce, brokers are trying all their best tricks – and a few of their worst – in a desperate bid to lock in traders for the longest period of time possible.
Yet, once committed to a particular broker, the trader loses his or her flexibility…. and potential trading gains, too. So, successful traders maintain their freedom by choosing a broker-neutral, third party trading platform.
Financial services professionals, including brokers, have long been aware that customers are fickle: They may be persuaded to sign up for trading and/or account management services on the spur of the moment, but the love affair is short-lived. Soon, the trader’s wandering eye searches for something better.
The law of the broker jungle – Provide clear, consistent value or perish
When the trader spots a better opportunity elsewhere, financial self-interest leads them to abandon their old broker in search of broader opportunities with higher gains. Of course, it’s the law of the broker jungle: Either provide clearly superior value, or lose clients to a broker who does.
Brokers spend plenty of time and money cultivating clients and providing a personal touch to the trading experience. However, in these days of HFT, a broker’s technical capability is often outweighed by personal charm and salesmanship.
So, traders stay enthralled longer than they should. Unfortunately, profits can suffer when traders are more focused on personalities than pips.
Stay flexible, stay a winner
Still, it doesn’t have to be that way. Traders can have the best of all worlds as long as they stay flexible and don’t become married to any single broker. By using a neutral, third-party trading platform like Marketcetera, traders can pick and choose among competing brokers.
When using a variety of strategies and systems, instead of tailoring the strategy to fit a particular broker, traders can now reach across broker company lines in order to fit the broker to the strategy.
From the perspectives of both institutional traders and independent “prop traders,” flexibility is the key to success. A good third-party platform that offers technical flexibility along with high liquidity and low latency is a sure winner.
The grass is always greener on the other side…. Go there
A trader should be loyal to profits, not to brokers. That’s because trading success depends on harvesting profits wherever they may be found. But, if you’re tied to a single broker then it’s hard to explore new opportunities.
In contrast, when a trader is empowered by Marketcetera’s automatic trading platform, based on open-source code, the grass really is “always greener on the other side.” Traders are free to roam wherever they wish: Across brokers, across markets, and even across liquidity and funding sources.
With enough flexibility, you can reach anywhere
If you’ve been trading through a single broker with a single platform, it’s time to loosen up and reach for bigger profits. A good way to start is by exploring the possibilities available through the Marketcetera Automated Trading Platform (MATP).
Once you’re armed with MATP and its related DARE and Nexus tools, you’ll be flexible enough to have complete control over your trading world.
To learn more about the value of flexibility, just contact Marketcetera.