Best Brokers For Customer Service
The best brokers for customer service combine competitive trading conditions with helpful and responsive support, putting the clients first. Whether you are in India, the UK or the United States, good customer service is one of the most important things to look for in forex brokers or any kind of broker. Read our full guide to learn why selecting one of the best brokers for customer service is important and how to compare the options. We have also compiled a list of our top broker recommendations below.
Top Brokers For Customer Service
These 5 brokers offer the fastest and most reliable customer support based on our tests:
#1 - Forex.com
Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
"Forex.com is an excellent broker for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score."
- DayTrading Review Team
- Instruments: Forex, Spot Metals
- Regulator: NFA, CFTC
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Pros
- Industry-leading pricing on popular forex assets starting from 0.0 pips
- Up to 15% cashback rebates for active traders
- VPS hosting for automated strategies
Cons
- Investment offering varies between countries
- No copy trading platform
- $15 monthly inactivity fee
#2 - Interactive Brokers
Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Traders use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
"Serious traders seeking a regulated broker with unparalleled access to stock markets should look at IB. Their range of stocks can't be beaten."
- DayTrading Review Team
- Instruments: CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator: SEC, FCA, IIROC, SFC
- Platforms: AlgoTrader, OmniTrader, eSignal, TradingCentral
- Min. Deposit: $0
- Min. Trade: $100
- Leverage: 1:50
Pros
- Regulated by some of the world's most reputable bodies including in US
- Low commissions and tight spreads
- Diverse payment options and account currencies
Cons
- Platform and web interface are complex and difficult for beginners to pick up
- Accessing products like CFDs is not straightforward compared to competitors
- The TWS platform falls short in terms of technical charting
#3 - NinjaTrader
NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
"We recommend NinjaTrader for high-volume futures traders looking for low fees and premium analysis tools."
- DayTrading Review Team
- Instruments: Forex, Stocks, Options, Commodities, Futures, Crypto
- Regulator: NFA, CFTC
- Platforms: eSignal
- Min. Deposit: $50
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Pros
- Excellent trading software for active users with bespoke widgets and indicators
- Easy account opening that takes a few minutes
- Free platform access and trade simulation capabilities
Cons
- Premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
- Withdrawal fee on some funding methods
#4 - eToro USA
eToro is a social investing platform that offers stocks, ETFs, options, and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, this brand is highly respected. eToro securities trading is offered by eToro USA Securities, Inc.
"eToro is a top pick for users looking for social investing and copy trading. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer traders."
- DayTrading Review Team
- Instruments: Stocks, Options, ETFs, Crypto
- Regulator: SEC, FINRA
- Platforms: Own
- Min. Deposit: $10
- Min. Trade: $10
Pros
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- A free demo account means new users and prospective traders can try the broker risk-free
- The $10 minimum deposit and straightforward account opening process means beginners can get started quickly
Cons
- Narrower range of instruments than some competitors
- No MetaTrader 4 platform integration
#5 - OANDA US
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
"OANDA is a top-rate broker for US traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick if you want a heavily regulated broker with a secure trading environment."
- DayTrading Review Team
- Instruments: Forex, Crypto
- Regulator: NFA, CFTC
- Platforms: MT4, TradingView, AutoChartist
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Pros
- The OANDA web platform offers advanced price charts and graphs
- API facilitates access to 25 years of historical data and rates from 200+ currencies
- Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles
Cons
- Customer support not available on the weekend
Why Is Customer Service Important?
When people compare brokers, it is easy to look first at factors like how low the fees are, the variety of assets on offer, how easy the trading platforms are to use and the different methods for depositing and withdrawing funds. These are all key aspects that need to be considered but finding the best brokers for customer service is often overlooked. In reality, customer service is just as important, if not more important than some of these aspects.
If you encounter difficulties while trading, you need to be able to get in contact with customer service quickly and efficiently. A good broker will have contact details clearly defined with a variety of methods for you to get in touch. Additionally, they should be responsive at all times, many assets continue over the weekend so you need a broker that will respond at any time you should encounter any issues. A responsive broker leads to a healthier trading experience as you do not have to spend time worrying about your issues being resolved.
Customer Service Scenarios
A good way to understand why finding the best brokers for customer service is important is to look at different potential scenarios:
Consider that you have opened some positions that are running into the weekend. The plan was to close these trades on Saturday and Sunday but, come Saturday morning, you have lost your login details and the password reset email will not come through. You desperately need to get into your account to close these trades or you risk losing your capital. The broker you have chosen does not offer a weekend hotline and, even though you have opened many tickets online, there is no response. The broker finally responds on Monday and gets you back into your account but it is too late as the optimal window to close the trades has passed, you have lost a significant portion of your account and the broker does not care about your losses.
Let us say that you have tried to withdraw funds from your account. You allowed the 1-2 business days stated on the broker’s website but the funds still have not hit your bank account, even though it has been four days. Upon reaching out to customer support, the agent is rude and does not care about the issue. They request a host of different documents that are very difficult to find and it seems like you may never get your money.
You experience a technical issue while trading. Something is off and you contact customer support to try and resolve the issue. They respond and state that they have forwarded it to the specialist but they won’t be in the office for a few days, leaving you with open trades on a malfunctioning site for several days.
Each of these scenarios would have had a positive outcome had you chosen one of the best brokers for customer service levels. In the first example, if you had selected a broker with good customer service, they would have responded in a timely fashion on the weekend and got you back into the account in time to close the trades for a profit. In the second, the customer support team would have responded in a friendly manner and provided a solution to get the funds into your bank without creating hoops for you to jump through. Finally, in the third, a good customer support team would have worked to solve the issue as soon as possible, ensuring that it does not affect your trading experience any longer than it needs to.
How To Compare The Best Brokers For Customer Service
Payment Methods
The best brokers for customer service will provide several methods that you can use to contact them. These should ideally be a mixture of non-invasive and live conversation methods. Non-invasive tools like email, text messaging and contact forms will give people who may be busy at work the opportunity to respond to messages from customer service at a time that suits them. Live communication, such as phone calls and live chats, is also very useful. This is particularly useful in situations where the issue is not clearly defined as live conversations make it easy for information and data to be gleaned by customer support, which makes solving the issue simpler.
Language
Another aspect to look out for is the number of supported languages, especially if you are an international client. Ideally, the broker should be able to provide meaningful support to clients in all geographical regions that they operate in. This makes it much easier and less frustrating, you do not want to have the added stress of not understanding most of what is being said.
Experience
The best brokers for customer service should have support teams with impeccable knowledge of their brokerage. If the team knows the ins and outs of the firm, financial markets and services offered, they can easily solve problems whenever you have them.
Available Hours
Some brokers will offer support only on weekdays, while others might cover the weekends or limit their opening hours during a standard working day. 24/7 support is great for clients trading assets and markets that are open on the weekends, such as cryptocurrencies, as you will be able to quickly sort any issues that might result in you losing money. However, this isn’t the be-all and end-all. If every asset you trade closes over the weekend, such as forex, stocks and ETFs, 24/7 customer support may not garner much more than 24/5.
Pros Of Good Customer Service
These are the key advantages of good customer service:
- Happier trading experience
- Issues can be resolved quickly
- Always on hand should funding issues occur
- Less stress worrying about issues being resolved
- Support offered on the weekend in case of issues
- Support is offered in a variety of languages making communication easy
Final Word On The Best Brokers For Customer Service
Finding the best brokers for customer service can make the overall trading experience much more pleasant. It is always important to have a support team on hand whenever you encounter issues, no matter how small they are. The best brokers have a positive team who know the brokerage inside and out, available 24/7 to help you. When looking for a broker, check our comparison guide to ensure you make the right choice.
FAQs
What Does 24/5 Support Mean From The Best Brokers For Customer Service?
If a broker states that they offer 24/5 support, this means that the team is available all day and night on weekdays. The support team for this broker will not be contactable on weekends.
What Is The Most Important Factor When Comparing The Best Brokers For Customer Service?
All the different factors are important. If we had to single one out, we would probably consider 24/7 availability to be the most important as you do not want to be caught out on weekends with open trades. However, if you will be trading instruments that are closed on the weekends, responsiveness and experience may be more important.
What Is A Better Support Communication Method, Email Or Phone?
Both have their positives. Email allows you to respond whenever suits you but may take a little longer, whereas phone calls will probably have the issue fixed sooner but you must be present at the time.
What Factors Should I Look Out For When Comparing The Best Brokers For Customer Service?
There are a few things to compare. We believe the most important factors are the team’s experience, responsiveness, availability, contact methods and supported languages.
Is Politeness Of The Support Team Important?
Yes, it is. The support team should be polite and helpful in all situations as it leads to a much happier support experience. If you are having issues that could cost you money, you do not want to be dealing with rude support staff.