The financial markets are complex and competitive, requiring skill, infrastructure, and a trader-first approach. Experienced traders know all about the market and the crucial roles that brokers play, so they have distinct expectations from their brokers that go beyond service offerings. Understanding these requirements helps traders optimize their strategies and the selection process for brokers.
Security, Regulation, and Fund Protection
Security is a core requirement for a CFD broker and any company or platform involved in the financial sector. The security of sensitive data and funds is vital for experienced traders, so they look for brokers under reputable authorities, like ASIC, CySec, or the FCA. These regulators enforce strict standards for operational integrity, transparency, and cybersecurity.
Regulatory compliance is substantial because it provides traders with a safe and protected market to seek redress for perceived wrongs. Experienced traders also look for brokers that segregate clients' funds from operational funds and implement clear policies on fund protection.
Some brokers offer enhanced trading conditions, such as increased leverage, in exchange for fewer regulatory protections and operating outside legal coverage. Experienced traders know to stay away from such brokers, prioritizing credibility always.
Competitive Trading Conditions
Brokers need a healthy balance sheet to profit from trading commissions and fees. However, these trading costs directly impact profitability, especially for high-frequency or large-volume traders. Since these costs are inevitable, experienced traders prefer CFD brokers that offer tight spreads, low commissions, and little to zero fees on deposits and withdrawals.
Brokers like OANDA offer spreads as low as 0.7 pips and up to 1:3000 leverage. These conditions appeal to CFD traders looking for flexible and cost-efficient brokers. Transparency in pricing is another essential quality that traders look for. Brokers should disclose all fees and swap rates so traders know what they are signing up for and can factor in costs as they trade.
Access to Diverse and Liquid Markets
CFDs are popular for trading various markets, and experienced traders know that access to diverse and liquid markets improves their trading performance. A great CFD broker should offer access to markets beyond major forex pairs, including indices, commodities, stocks, options, and cryptocurrencies. Access to different markets helps traders diversify their CFD portfolios, plan their trades, and take advantage of surging trends in one or more markets.
Tailored Account Types and Higher Leverage
Experienced CFD traders who have hiked their edge often demand higher leverage to improve their potential returns. Most brokers offer leverage based on the limits set by regulatory authorities but can have special provisions for those who want higher limits.
Brokers should have different accounts tailored to the needs of traders across specific categories. For example, tailored accounts based on risk tolerance, trading capital, strategy (algorithmic or manual), and swap preferences.
Access to tailored accounts ensures that traders get customer support, flexible trading conditions, and necessary resources.
Dedicated Customer Support and Educational Resources
Customer support helps traders and brokers maximize their business relationships in any condition. Customer service agents are the meeting points where traders can resolve disputes and access specific information about their brokers. Experienced traders prefer brokers with at least 24/5 access to customer agents in different languages and across several channels.
You should be able to communicate with customer service through live chat, email, dedicated phone numbers, or social media platforms. Most brokers offer dedicated account managers to high-net-worth traders so they get fast support.
Educational resources must also be available on your preferred broker. FAQ pages, dedicated trading blogs and academies, and regular newsletters are
Loyalty Rewards and Promotions
Bonuses, cashbacks, and exclusive discounts are rewards that brokers offer to loyal customers. These rewards are crucial not only for marketing but also for improving traders’ psychological disposition when trading. Some brokers, for example, reward traders with zero deposit fees during periods of market volatility. Although not a core feature that traders check for, loyalty rewards show that brokers care for their clients beyond the market and could be a pointer to how they handle issues.
Reliable and Advanced Trading Platforms and Tools
Stability and real-time access to markets are non-negotiable for traders. Seasoned traders want brokers to integrate with advanced charting platforms like TradingView, MetaTrader 5, and CTrader. These platforms offer access to a broader range of technical analysis tools, automated trading, fast execution, social trading, and real-time market analysis.
Compatibility with multiple devices is also a desired feature, which allows traders to access markets on the go. Seasoned traders ensure their preferred brokers don’t have many downtimes and keep their infrastructure up to the latest standards. Access to live market news, sentiments, and financial data on companies and countries is also a crucial need for traders.
Choosing the Right Broker for Advanced Trading Needs
For experienced traders, trading goes beyond predicting markets and executing long or short orders, so they look for brokers with the best overall offerings. Note that regulatory demands can impact the features available to a broker, such as leverage limits and swap rules. Brokers align with traders' demands for trust, broad market access, tailored accounts, and regulatory compliance.