What is the plus point of having account manager?

[sun11]

If this is stupid question then please forgive me.

I have seen many forex brokers offers account managers. We get account managers contacts when we register for a trading account. What kind of benefit we can get from an account manager?

Account managers for special attention? Then what about other brokers who doesn't have account managers for individual client. What is the difference.

Regards

 

[richieforex]

Hi sun11

It is not a stupid question.

To be honest most account managers at a Forex broker will just be sales people. They might say they will work with you, help you out but in essence all they are after is for you to deposit more money. If you are knew to trading, they might have some good knowledge to pass on but just be aware that they are likely to be sales people not analysts or traders.

I have an account manager with my futures broker. The only contact we have is when I call him. Usually this is if I am in a trade and I lose internet connection, the platform freezes and I need him to advise me on where price is, he will then amend or close the trade based on what I tell him to do. He is there whenever I need him. His role is more client support than sales.

The description of account manager can mean a few different types of role with the finance world, the two above is what I think may apply to you.

What I would suggest is calling the broker, ask what the benefit of having an account manager with them is, speak with the prospective account manager, ask him plenty of questions in order to establish if you value their service and go from there.

Rich

 

[highbury fx]

If this is stupid question then please forgive me.

I have seen many forex brokers offers account managers. We get account managers contacts when we register for a trading account. What kind of benefit we can get from an account manager?

Account managers for special attention? Then what about other brokers who doesn't have account managers for individual client. What is the difference.

Regards

They're useful in terms of you have somebody at your brokerage that is responsible for keeping you happy. If you have any questions about your account or the platform or products on the platform your account manager is naturally the first person you should contact. If they can't help you they will find the answer for you and get back to you.

If they contact you too often with promotional calls or other types of sales call you are at liberty to tell them not to contact you by phone, email or whatever else drives you mad. You telling them not to contact you will not mean that you cannot contact them whenever you choose.

 

[sun11]

Hi richieforex,
Thank you for sharing your experience.

Well, in case of forex broker if they don't have office in my home country, then calling account manager will cost too much in case of internet disconnection, may be bigger than my trade size.

Regards

 

[pro4Xtrader]

I completely agree with richieforex

Personal account manager is a sales person with a target of getting new/additional deposit/s.

They are useful at the early stage to help you with setting up trading account but then AMs become deposit hunters (not always).

 

[gerryg]

If this is stupid question then please forgive me.

I have seen many forex brokers offers account managers. We get account managers contacts when we register for a trading account. What kind of benefit we can get from an account manager?

Account managers for special attention? Then what about other brokers who doesn't have account managers for individual client. What is the difference.

Regards

A kind of privilege for you which address your trading issues, entertain different requests in a timely manner. It's really important when you investigate some particular trading situation which is updated by the dedicated person, not by new customer rep every time, trying to get into details, etc.
Not sure dedicated acc managers are offered on entry-level account, got mine at Нotforex when stepped up on Premium account.

 

[jamesuk]

Although i agree with the previous posts that an account manager is mostly a sales person you can take advantage of him. My account manager helps me a lot with everything, he informs me about crucial news, new promotions,pros and cons about account types etc. He also assist me with any troubleshooting i have either is regarding my platform or my account or even understanding the market analysis.