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Trading with several brokers

Discussion in 'Beginners Bootcamp' started by Antonio_84, Sep 7, 2015.

  1. Forexrider

    Forexrider Private

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    Right now the amount of money i have is really very low comparatively so i just trade in one broker. But i have a dream that when i grow my account i will spread them across brokers. I am scared to maintain more than $10000 in one broker, does anyone of you have more than this in one broker ?
     
  2. CryptoatForex

    CryptoatForex Recruit

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    Not a bad idea to use more than one broker, I have 3 different accounts.
     
  3. Qasim waqar

    Qasim waqar Private

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    Trade with more brokers or divide your invested amount in 2 or 3 accounts . It will give you a sense of security if one account is in danger other amount will be safe you can grow it with another strategy. Trading with 2 or more brokers is a good idea when broker had great strategy in trading to find best broker offering more benefits.
     
  4. CryptoatForex

    CryptoatForex Recruit

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    I am mainly using REMOVED at the moment.
    They have tight spreads and also you can trade Crypto 24/7 with them.
     
  5. nahiyar

    nahiyar Private, 1st Class

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    Yes it is true approach to save your money when you are not experienced feared that you will loose amount in any emotional trading decision. Trading with more than one broker or dividing your amount in accounts is a solution that you will lose just one part of any account if it is blowup. Then you can compare brokers services , do more investment with your trusted and satisfied broker for future plan .
     
  6. CryptoatForex

    CryptoatForex Recruit

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    I use 2 brokers and happy with both.
     
  7. EURUSD

    EURUSD Sergeant Major

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    Using several brokers I think also become one option for diversifying capital, with using several brokers if likely one broker facing problem hence still have another hope from the broker that still giving good service, and smoothly to withdraw money from account trading, but choosing right broker also very much important to safety investment
     
  8. Forexrider

    Forexrider Private

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    Trading with one brokerage firm is more than enough for all traders with less than $100000, may be when the amount exceeds this range, its time to split the money between the brokers so that you would not be hurt if there was any loss due to unforeseen events.
     
  9. EURUSD

    EURUSD Sergeant Major

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    For safety reason, sometimes we need to make diversify capital, if we investing huge money on one broker, and then we facing problem with these brokers, whether we getting loss and or margin call account, or we can making good profit but from the broker edge our profit is violating rules then profit cancelled and so on, forex trading is remaining risky and also not all broker are safe, with trading on several brokers this to minimize the risk.
     

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