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Trading with several brokers

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

  1. 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
     
  2. 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.
     
  3. 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.
     
  4. Esannniki12

    Esannniki12 Recruit

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    I believe to diversifying capital as well.I have two forex brokers to share my risk and trading style. One is for swing trade and another is daytrade. It's very smooth and fit for me. Anyway, there is no rule or best practice.
     
  5. bigdolly

    bigdolly Sergeant Major

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    How did you understand which broker is better and for which trading style? For example I use Hotforex both for swing and news trades because I see other brokers bear little difference in terms of range of their trading services.
     
  6. Qasim waqar

    Qasim waqar Private, 1st Class

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    Are you sure that you use same broker for news trading and is your broker not giving you spikes on high impact factor news and missing your Take profit or stop loss.
     
  7. walpants

    walpants Private, 1st Class

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    i only use one, im only learning, i think i would loose track if i had any more!
     
  8. bigdolly

    bigdolly Sergeant Major

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    Why? We need to diversify our trading and best way to do that is to trade with several brokers. For example I use IB, Hotforex and Tickmill they all have FCA license and it's basically a prerequisite for me.
     
  9. walpants

    walpants Private, 1st Class

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    maybe when you are experienced it is easy to jump between brokers but while learning i think its best to just stick with one.
     
  10. henyo

    henyo Master Sergeant

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    I do trade with 2 brokers, one has my main while the other has a smaller amount i enjoy trading. but they also good
     

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