James Saulez, CIO and head of online trading at GT247.com, which was placed third in the rankings, says the company's focus on providing educational tools for online traders was a key factor in their rise up the rankings this year.
"Investor education is a major focus for us. We believe that successful trading is only possible if traders have the tools to empower themselves to make informed decisions. To that end, in the past few years, we have launched The Wire, a social network for traders, as well as a platform whereby clients have real-time access to research and trade recommendations, and a telephone service for those wanting guidance," says Saulez.
According to Saulez it's the combination of these initiatives that led to GT247.com according 4.5 out of 5 on the 'Client education and resources' category - an increase from a score of 3.98 last year and one of the highest scores achieved in the category this year.
Stuart Theobald, editor of Business Day Investors Monthly, commented that client education is particularly important as the scope of available trading instruments continues to grow. "Some new instruments are complex and can expose clients to higher risk. On the other hand, they can be highly efficient trading tools. Making sure clients benefit from the efficiency without taking on undue risk comes down to the education and research tools that brokers can provide to their clients. GT247.com's score on this factor shows it has an excellent training and research offering," he says.
Saulez says GT247.com is very proud of the company's improved ranking this year. "We believe that our continued focus on innovative investor educational tools will enable us to stay at the top of the market going forward."
There is a misconception in society that traders are high risk takers, and that one must have large capital to make money. "In fact, almost the opposite is true. The key to successful trading is discipline, education and control.
One of the problems associated with self-investment and online trading is the fact that marketing efforts tend to focus on the huge potential returns; instead traders need to maintain a balanced approach to self-investing and managed investments," he says.
Saulez says it is crucial that online investors take responsibility for educating themselves on the various options that are available to them, and take steps to acquire the skills that they need to make informed decisions in this regard.
"Building capital takes a long time. However, many people who self-invest do not put in the adequate time to research how or where to invest their money. By not doing the adequate research before trading online, you can stand to lose a lot very quickly. This is something that we have gone to great lengths to address in the industry - although there is still a lot more that can be done," he says.
