In the era of digitalization, all sorts of professions saw massive developments. A somewhat similar situation was seen in the trading world. In a small period of time, astonishing new trends made it to the market and the ones who failed to keep up with them were left behind. I have been trading for the past 10 years myself but I know that the growth my business saw in the period of the past 3 years was unprecedented. One such development was the introduction of online brokerage firms. Many people were sceptical initially because trusting your assets with a firm that runs online is not an easy job. But when people realized it was becoming the need of time, the masses agreed on joining them.
For someone like me, who has put in blood and sweat to earn every single penny that lies in my account, joining these wasn’t an easy job. Before coming across this one, I had been associated with many others. Their below-the-mark services forced me to move to the next. In the quest of finding a platform that suits my need, one day I met an experienced trader who came to address the trading union’s session. He was talking about the importance of joining forex firms and how one of them completely turned the tables for him. His account of the forum was definitely attractive. By the end of his speech, we all were expecting the name of the forum.
RichmondSuper was the one being referred. When you hear a recommendation from someone like him you’re bound to take it seriously. But even then, good traders never take someone’s advice unless they put in efforts themselves and research their way through. I added it to my under consideration list at the very moment but I went out in the market to satisfy myself. After inquiring about its reputation in the market, its legal stances and policies, and other features, I was convinced that RichmondSuper is worth a try.
Even after signing up for the firm I was not sure fully if I’d landed in the right hands because the stories of looting and plundering firms came to me every other day. But all credit goes to RichmondSuper for establishing a trust-based, customer-company relationship with me in no time. As soon as I got hold of my account their fabulous service made me a satisfied customer.
All these years of great experience have forced me to write a review on the platform. I am here with the hope that the young traders out there don’t fall into the hands of imposters and get to the right platform straight without having to waste time and bucks. As we proceed I’ll not only give an account of my experience but also tell you what features to look for in a forex platform. Hopefully, by the end of this, you’ll have a clear picture of how to proceed.
Interface and theme
If you’re a newbie you might not fully realize the importance of a well-designed platform in terms of graphics and colours. Let’s start with the colours. Most of these firms have a more monochorionic theme. Although many traders find it professional and chic but honestly it’s a big no for me. Complex operations that we have to perform on the platforms are super boring and then a dull colour scheme just makes things worse. So for me, RichmondSuper’scolour scheme worlds well. White backdrop and dark-coloured text and graphics are just appropriate. Everything is easily visible. If the forum adds an option that lets users use dark/light these, it would be great.
The website has been designed keeping in mind that customers who have to use the web portal come from various backgrounds so the website has to be easy to use. It has to be said that the website is self-explanatory and you will not have to keep wandering on the site to reach your desired operation’s button. All these years, I’ve found the website very user-friendly. And this is where most of the experienced traders will agree with me.
The fact that RichmondSuper takes into account the diverse background of traders is reflected in a number of places. As we go on you’ll notice this surely. And to me, this is one of the factors that ensure the success of any forex platform.
As you scroll to the bottom of the landing page, you’ll find a Legal section. It has been subdivided to help you easily find what you’re looking for. If you go through either of the sections you’ll be impressed by the degree of transparency that the platform offers its users. All the policies have been laid out perfectly. The legal section comprises of
- Bonus Policy
- Withdrawal, Refund, and Cancellation Policy
- Terms and Conditions
- Risk Disclosure statement
- Anti Money Laundering Policy
Although you’ll find each one of these equally comprehensive, even then if you have a query or a problem you can always refer to the ever welcoming Customer Support department.
Although the customer support services are phenomenal it would’ve been great if the contact us button was placed on the main page instead of the menu. If you click to open the 3 bars at the top right corner, the drop-down menu will display the help option. On expanding it you’ll find the Contact Us option. This is where you need to be in case of grievances or questions. There are multiple ways you can get in touch with the representatives such as call, email, chat, and submit a form. I have found each one of them equally efficient and responsive.
Once I had to talk to the representative but I could not connect to him through call. Then I was disappointed but later I found out it was because of the heavy traffic.
One can send their problems at [email protected] any time but calling and chat hours are limited. Also, users outside Australia and Canada cannot make use of the phone option.
Professional and efficient tools
RichmondSuper has very efficient and reliable tools to offer. I can imagine the number of people who’ve stuck to the platform for long periods because of these tools. Although I cannot give you a detailed account of these all and how they helped me I’ll briefly run through it. The Traders Trend helps one learn more about the significant trading partners, News Alerts keep updating about the changing market scenario, Insider Trader lets you see who’s selling or buying what, etc. You can get to know the true benefit of these tools only if you make use of them in your trading. My personal favourites were the daily emails and charting. You can go between any of the 5 chart types, technical indicators, and 10-time intervals. Remarkable, isn’t it?
Which account suits you
Although there is a range of accounts and as you keep going above, they keep upgrading and offer more, your best doesn’t have to be the Heritage account. I’ll tell you why. All traders do not require the same from the platform. So why do they pay more? Keeping this in mind, the forum has developed a total of 5 accounts. You can see what you need, what you afford and pick one.
Trial one offers all the basic features that young traders require. You can open it with a minimum balance of $250 and you’re good to go. Although there are platforms that offer free accounts they don’t offer you all the necessary features. If you feel a trial account doesn’t do for you anymore you can upgrade. Other accounts are Passive income (minimum balance $10k), Portfolio Management (minimum balance $50k), Retirement (minimum balance $100k), and Heritage (minimum balance $ 250k).
I am currently a satisfied customer of the Portfolio Management account.
Friends with your pocket
Here’s one thing I’d like to mention that you don’t have to live under the burden of hidden charges and additional up-gradation commission. In the trading community, RichmondSuper is referred to as the ‘low expense financier’.
Experts at help
RichmondSuper is all about customer care and help. I was so happy to discover that they offer you the service of experts in the areas. You can always refer to them if you want suggestions in financial matters.
My broker, Tom Korbel has helped me through crucial times. The way he keeps an eye on the ever-changing market scenario left me surprised. These experts are there only to offer you what they think is right. I have never found anyone saying that they tried to influence them. In fact, they always reinforce that they are here to help and the final decision is yours.
All three years of working with RichmondSuper have given me a different sense of confidence. This is why I do not plan to switch to some other firm any time soon. There are a large number of pros that I haven’t mentioned in the review but it doesn’t mean it is free of flaws. If you wish to become a happy trader like me, you can consider RichmondSuper.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.