Every e-trading member of CGSE has their own trading platform and customer service quality, investors should choose carefully when making any investment decision. We have listed some important points for your reference when choosing a reliable platform.
 

A stable trading platform is very important for investors when making the decision and there are some key considerations include:

• Data transfer speed,
• Platform stability,
• Frequency of disconnection,
• Occurrence of slippage and
• The response rate of the customer service regarding client problems and enquiries.

We suggest investors to test the trading platform with a demo account and to familiarize themselves with the different functions of the trade platform. After setting up a real account you should test and verify the stability of the trading platform against the key considerations above with small trades.

Customer service is another important factor to consider when selecting a precious metals e-trading provider as bad customer service could adversely affect investors’ trading experience. Bad customer service may also be an indication that the company’s interests may not be aligned with the client. As such, an investor should have some experience with the customer service team to see if there can be an amicable business relationship made between the company and the client.

The customer service teams’ response time in handling the clients’ queries should be one of the most important points when considering a precious metals e-trading provider. The next point to consider is the attitude of the customer service team when handling the clients’ problems and queries.

Below is a further explanation of the points raised, with an emphasis on how the client should respond given a particular customer service team scenario.

The customer service team may mislead the client:

The following example shows how a customer service team may mislead the client which may result in a trading loss.

As Loco London Gold has a higher leverage than other conventional investment products, a change in the leverage can cause a dramatic effect on the clients’ trading account balance. Given a scenario whereby the client is fully invested in the market using a margin based trading system, such as Loco London bullion, a change in the margin requirement may result in the clients’ trading account to automatically close all the trade positions during a margin call.

As such, investors should be aware of the terms and conditions associated with leveraged trading, especially in the bullion market. Whenever the client discovers that they may be being misled, the client should be careful when having business relations with the associated company.

The customer service team may have a negative bias towards new clients

Some customer service teams may not have a particular focus on servicing new clients or investors, which may be shown with the customer service team having a poor attitude towards a new client. This may be from the fact that the company may not be able to handle client requests. As a further indication, the client may derive that if an account was to be opened with the associated company, the customer service team may not have the sufficient resources to handle future client problems or queries. Therefore, clients should pay particular attention to the ability of the customer service team in handling client queries. 

Investors should check out the address of company office. Once an investor has been able to ascertain the location of the company office, they will be able to make a more informed decision after meeting the employees, managers and customer representatives of that company. By reviewing the quality of the office, an investor can determine whether the company is established and reliable. By virtue of the customer representatives and the attitude given to the client, the client will be able to develop a deeper understanding of whether the future service of the company will be professional and respectful.

As a note to all investors, any investment decision should be carefully researched and verified for a more informed decision. For our investors, we advise that all clients should avoid companies that claim to have representation in Mainland China, or have claimed to have legal jurisdiction to act as the e-trading provider in Mainland China. This is because there is no formal regulatory authority for all Mainland China Loco London Gold companies. This is to ensure that clients do not fall victim to fraudulent activities, which can be easily avoided by verifying the credibility of a company. We believe that after reviewing the above points, clients will be able to make a more informed decision regarding their investment preferences.