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Telephone - Calling your Day Trading Brokerage


In contrast to traditional investors and traditional brokers, day traders make all of their trades themselves, using direct access brokers, so that their trades are sent directly to the exchange. This means that day traders only contact their brokerage via the telephone when something goes wrong, and they need to exit a trade, and have no other method of doing so.

For example, if a day trader had an active trade, and their primary and backup Internet access were unavailable, or if their computer was not working, they would need to contact their brokerage via the telephone to exit their trade.

Landline or Mobile Telephone

As day traders rarely need a telephone, either a landline or a mobile phone are acceptable choices, and both have their own advantages and disadvantages. For example, a landline does not have a battery that needs to be recharged, but it can be affected by some of the same problems that affect Internet access (such as broken lines). A mobile phone does have a battery that needs to be recharged, but it bypasses the local telephone infrastructure, and may still work when landlines are not working. Mobile phones are also portable, so they can be used from trading locations that might not have an accessible telephone (such as a coffee shop).

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