Monthly Statement from Forex Broker

[monkeyking998]

Do you know any broker will give us monthly statement for our active account, just like bank account statement?

If not, why can't broker issue a PDF monthly statement similar to bank statement, with details like Date, Time, Open Position, Close, Price, Profit/Loss, etc

Any thoughts?

 

[FxMaster]

Do you know any broker will give us monthly statement for our active account, just like bank account statement?

If not, why can't broker issue a PDF monthly statement similar to bank statement, with details like Date, Time, Open Position, Close, Price, Profit/Loss, etc

Any thoughts?

As per my experience I can say that every broker sending monthly statement to traders register email address.

 

[monkeyking998]

As per my experience I can say that every broker sending monthly statement to traders register email address.

Yes, I know. But those are email which can be altered easily. What I said is those formal statement like bank statement in pdf form, not easy to alter and argue later.

I seen in the web many horror stories that some bad brokers just deleted all your profits from their records, so if there is some form of formal statement from the broker, than one can still have evidence to prove that he/she is actually having so and so much money in the account and what trades that he/she has open/closed.

 

[iMusingKiMi]

Do you know any broker will give us monthly statement for our active account, just like bank account statement?

If not, why can't broker issue a PDF monthly statement similar to bank statement, with details like Date, Time, Open Position, Close, Price, Profit/Loss, etc

Any thoughts?

I am not sure with other brokers. Usually if you trade to those broker which is a member of direct exchanges, we will get daily PDF statements for account. If I am not wrong, most forex broker will send only monthly statements.

 

[Pharaoh]

Some brokers send daily, weekly, and/or monthly statements. Others just send a link to one which still requires you to use a password on the site.

It's best to run your own statements weekly and save them. A few brokers have been known to retroactively change trades to steal a few pips here and there. If you've got records, you can catch them.

 

[daren1h]

yes you are right.if broker show their statement then thy caught.

 

[monkeyking998]

Some brokers send daily, weekly, and/or monthly statements. Others just send a link to one which still requires you to use a password on the site.

It's best to run your own statements weekly and save them. A few brokers have been known to retroactively change trades to steal a few pips here and there. If you've got records, you can catch them.

How to run own statements weekly? Using MT4 reporting? But MT4 reporting log also can be tempered right? I mean the broker will argue that we tempered the log and refuse to take that as evidence. However, if the broker can issue a formal statement PDF then it can be used as an undisputed evidence about our trades/balances/etc.

 

[FraudKiller]

Take statement from broker and reconcile with MT4 Account History statement. There is no other option.