Broker of the month: ETX Capital, read our expert and 30+ client reviews here
David Papier, who’s been with ETX Capital, since 2014 gives us his views on why clients should trade with ETX Capital, what makes them stand out from the crowd and helping clients put together effective trading strategies.
First and foremost, why should a client trade with ETX Capital as opposed to any other broker?
People trade with us because of our great technology and customer service. We’ve been operating in the financial markets for over 50 years becoming one of the UK’s leading spread betting and CFD trading providers. Our clients benefit from our award-winning trading platform, TraderPro, giving them direct access to over 5,000 global markets on their smartphone or desktop. In addition to this, we’ve recently picked up several awards for our trading technology and education programmes, which I accredit to the great team of people we have working at ETX.
What did you do before you were made Head of Sales of ETX Capital?
The early part of my career was spent in different B2B sales roles and then in 2006, I moved into the spread betting and CFD world in an entry level sales function. I worked for a major competitor to ETX Capital for a number of years before moving to ETX as Team Leader for the Retention desk in 2014. Three years later I was given the opportunity to become ETX’s Head of Sales and the rest is history.
In an industry where execution costs are getting tighter to the point where all spreads are the same how much of a focus do you put on customer service versus pricing?
It sounds clichéd, but the client is central to everything we do at ETX. I think that in this context customer service can be interpreted in two ways. First through traditional contact over the phone or via a method that suits our clients. Second through the experience a client receives in our platform. We have always been renowned for reliable, efficient, approachable and fair customer service. We have strong, knowledgeable sales and operations teams who are devoted to delivering a positive client outcome on every interaction. As mentioned above, the platform experience we are delivering will continue to improve, putting client needs at the very heart of our development roadmap.
What do you think is the most important element in winning and retaining new business for ETX Capital?
A trusted brand with a great platform, a competitive dealing cost and high-level customer service. We know from research that trust and security have become increasingly more important to traders when choosing a provider, but it is the technology that plays a major role in retaining them.
What’s your average customer like? Would you say they are beginners or more experienced traders?
Our platform and support resources have been built to service more experienced traders. In addition to this, we see a lot of beginners sign up for accounts so we have developed an award-winning set of educational resources designed to help all level of traders get the most from our platform and develop their trading strategy and skills.
What are the most actively traded assets amongst your clients and are there any markets you’d like to see added for ETX clients?
Like most of our competitors, major indices and forex pairs dominate the most popular markets traded at ETX. Cryptocurrencies are the hot topic this year and we’ll be looking to continue to add to this suite of products to trade alongside the major crypto markets which are already available on our platform.
What would you say to new clients wanting to spread betting or CFD trading for the first time?
Be clear on your trading strategy and stick to it. It’s hard to be disciplined when trading the financial markets, but the best traders can curb their emotions and make rational trading decisions based on their trading strategy. Also, it’s important to choose an experienced, FCA regulated broker who offers a reliable platform on all devices and the educational support that will help you develop as a trader, whatever your level of expertise. Thankfully, we have an award-winning platform and educational package, so we’d be a good place to start!
Is there anything thing throughout your career do you wish you could have done better or differently?
I’ve been very happy with my career to date, although I would have to say, I would have liked to have worked in this industry sooner than I did, as I never realised what passion I had for the financial markets and offering clients the best possible experience to add value to their trading strategy.
And finally, what’s the most important thing to keep clients happy?
The most important thing is to deliver a positive product and customer experience day-in, day-out. This is the client’s window to the markets and also our brand so it’s important that the technology is reliable, easy-to-use and has all the tools a trader needs to identify opportunity and execute trading decisions quickly.
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Richard started the Good Broker Guide in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously acting as multi asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2000.