Knowing the right time to change your trading technology provider

Changing your trading technology provider is not a decision that should be taken lightly, but is often a necessity when you want to take your business further and there are certain elements holding you back.

Whilst the thought of making this change may seem daunting, rest assured the process is simpler than you think, and the benefits are worth the effort. If you can relate to any of the below points, you could be ready to make the switch:

1. Your provider lacks trading expertise

Is your provider leaving questions unanswered, or failing to provide adequate information when requested? Think about whether they’re the right service for you.

2. Their products and services are a replica of many other providers

If your current provider is not actively innovating and introducing new features that are ahead of their competitors, it’s time to move on.

3. They do not deliver requested features

Also important is their response time to your requests. Are they regularly requesting feedback? Do they find solutions to your problems if it doesn’t already exist? 

4. You’re losing clients because of the service you are offering to your clients

Technology providers are there to enhance your business, and consequently, the experience of your end client. If your clients are beginning to be affected, you might want to take a look at how a new provider might improve that.

5. You are receiving complaints in illiquid periods such as rolls

Similarly, receiving complaints means there’s a problem in the current system. Examine how your provider is contributing to this, and consider how this can be improved.

6. You are regularly being attacked by EAs acting in a coordinated way

Coordinated trading is on the rise, and any good technology provider will be acutely aware of this and offering ways to prevent attacks. 

7. They are unable to quickly offer ways to enter new markets

In the world of trading, speed is everything. If your provider is preventing you from taking advantage of new markets or trading opportunities, you need to find a new one.