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Tier1fx Takes on the Forex Market With Stellar Customer Service

Tier1FX focuses on delivering superior retail and institutional services while improving its clients’ experience with the latest trading technology tools.

Tier1FX using LiveChat - case study cover

The challenge

Winning customers over with high-quality service

Since forex trading companies often provide very similar software and selling conditions, they need to compete in other fields to win their customers’ attention. One of the possible angles they can use to take on the market is providing better customer service.

We believe that the future of our industry lies in providing better transparency and real support to clients throughout their trading experience. This can only be achieved by aligning the broker's interests with their clients, investing in listening to the client, and implementing what they need or want.

Yana Marinova, Back Office & Support Manager at Tier1FX

Many brokers offer similar terms for their clients. With very similar or even the same conditions available, potential customers look to the added benefits the broker companies provide. Consequently, Tier1FX looks to make increased transparency, flexibility, and personalized support their main selling points.

The solution

The company decided to install chat software on its website to make these three points a part of its offering. They were looking to accommodate the need for a quick — sometimes immediate — response that emails can’t always guarantee. With their clients being online traders, live chat is their preferred communication method in urgent or more deep-discussion matters.

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The foundations of a good implementation

Tier1FX went with LiveChat due to its excellent value for money and user-friendly interface. Their chat is operated by 15 trained agents and is offered in five languages to best serve their international clients.

Although the chat is mainly used for support, it also plays an important role sales-wise. The quality and accessibility of support is often the deciding factor for a potential customer.

Many brokers offer excellent trading conditions, and often, the level and quality of customer support make clients switch brokers. Unlike retail sales, forex accounts need ongoing support, and existing clients make multiple and long-term investments when satisfied with their support.”

Back Office & Support Manager at Tier1FX, Yana Marinova

The result

According to Marinova, customers appreciate the availability of LiveChat. It’s user-friendly and easy to spot on the website — they never have to search for the live chat icon, as was the case with other chat vendors. She also added that customers appreciate the convenience of live chat as it provides quicker and more interactive support than emails and eliminates the cost of phone calls. 

Since the chat option has always been a part of Tier1FX’s offering, it’s hard to ascertain how much of Tier1FX’s profits can be attributed to chats. However, Marinova went on to say that they owe a huge chunk of their profits and customer trust to LiveChat, and they couldn’t run their business without it.

Photo of Kuba Rogalski

Kuba Rogalski


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