It is almost as though the Thai trading arena has become some sort of neighborhood game, each company with an attempt to politicize the other such as faster deals, a slicker website and boasts of lightning-fast speed. This change is observed by the traders almost directly. The wide array of options has led to the fact that loyalty is often absent, and switching between brokers is ordinary. Friends talk in cafes about dropping providers as they would talk of visiting a new restaurant. The entire practice feels less like a financial activity and more like a lifestyle trend.
The most noticeable trend is how quickly traders talk and share experiences. Social media pages are filled with pictures of trades, or people complaining of hidden charges, or social networks hail a platform that performed better than anticipated. Words travel like wildfire and one negative review can reach out to thousands of prospective customers in one night. No company in such an environment can survive long with mistakes. Such on-demand continuous dialogue places the pressure on a forex broker to enhance not only their technology, but their customer service, as well. It is not even that anyone would like to be the brand which has been mentioned as just unreliable during a busy trading forum.
The common Thai business crowd is becoming smarter as well. Color schemes, glittering generalities do not impress them. Reality is that they desire to know where their money is traveling, how fast they can reach it, and to depend on the figures that they are viewing on their display. The need for transparency has made firms more cautious about the way they project themselves. It is not possible to state anymore that they are licensed. Traders seek evidence, information and a description that is clear in simple terms. Without these assurances, doubt arises almost immediately.
To most of these traders, it is not only about numbers in a chart but rather a sense of honor. One of the companies that takes time to explain slippage, one that really cares when withdrawals are postponed, receives much more loyalty than one who attempts to cover problems with a rug. The market in this respect is becoming more human. It is not a battle of who can give the minimum spread but rather one of building a relationship that is robust enough to withstand the occasional hiccup that comes with trading.
The intensity of the competition is evident in diversification by companies. Others go heavy on the educational programs and include lawselling workshops in universities or free seminars in hotels in the cities. Still others drive their technology axis, promulgating servers in Singapore or mobile apps that guarantee functionality even with a weak signal. The two methods have their respective listeners, although the purpose remains the same. None of them wants to be the one traders ignore when all options seem alike.
In the midst of this confusion there is one detail. The traders have ceased to be passive players who await advice. They are critics on their feet and will shift their money at the slightest cause of discomfort. The forex broker which shifts to this change and adapts promptly will have space to expand. There is a risk of people that adhere to old tricks being swept aside in a more and more busy landscape. What is going on in Thailand is not just a competition amongst firms. It reflects a community of traders that are beginning to find their voice, define the market with their decisions, and teach the industry that trust is something one gains, not takes.
