Trading with several brokers

bigdolly

Sergeant Major
Messages
961
I use three brokers - they all regulated by FCA. Their accounts are suitable for different trading strategy and basically it is an advantage because many newbies try to implement all their trading ideas on the same account, thinking it is universal. But it is not true.
 

Notati

Recruit
Messages
115
I would agree that some brokers might offer better trading conditions for crypto currencies than others. In this sense, it might be good option to have two brokers. But, I would always stick with only one broker for fiat currency trading as it is more convenient
 

Passiontrader

Private, 1st Class
Messages
47
Whatever your needs are. If one broker can meet your needs than than stick with that broker. I've been trading with one broker, AMP Global and for me they satisfied all my needs regarding cheap pricing and low margins and most important to me, execution!
 

nahiyar

Private, 1st Class
Messages
787
Depends on your needs and capital you can choose one or more brokers. I will say certainly do work with more than one broker. In this way your capital will be divided and risk is not high. Then you can avail the services offered by different brokers. The other benefit will be that if any broker is not working good with you you can work with others so try other brokers too to find what is best for you.
 

Purekiller

Recruit
Messages
84
I think it’s wise to open more than one account with more than one broker. And old saying says that: don’t keep all your money in one pocket. Even outside forex that makes sense. Having more than one bank account, or investing your money on different things not just one. I believe as long as you can control the outcome it’s a good idea. Some people can’t focus on many issues at the same time. For these people this case may bring headache so not all advices can be given to all different people.
 

momo3HC

Master Sergeant
Messages
415
I think it’s wise to open more than one account with more than one broker. And old saying says that: don’t keep all your money in one pocket. Even outside forex that makes sense. Having more than one bank account, or investing your money on different things not just one. I believe as long as you can control the outcome it’s a good idea. Some people can’t focus on many issues at the same time. For these people this case may bring headache so not all advices can be given to all different people.
You`re so right about diversify your income streams but I can`t support you about the same with different brokers. Using 2 or 3 broker can only distract you and put your capital at risk in every single broker that you`re using. When you`re using only 1 broker then you can be more focused and what`s more important you can use all capital in one place, manage it more easily and keep it more safe.
 

JamesForexSlayer

Sergeant
Messages
220
I think it’s wise to open more than one account with more than one broker. And old saying says that: don’t keep all your money in one pocket. Even outside forex that makes sense. Having more than one bank account, or investing your money on different things not just one. I believe as long as you can control the outcome it’s a good idea. Some people can’t focus on many issues at the same time. For these people this case may bring headache so not all advices can be given to all different people.
Depends if you have enough to be spread about I guess.
 

nahiyar

Private, 1st Class
Messages
787
You`re so right about diversify your income streams but I can`t support you about the same with different brokers. Using 2 or 3 broker can only distract you and put your capital at risk in every single broker that you`re using. When you`re using only 1 broker then you can be more focused and what`s more important you can use all capital in one place, manage it more easily and keep it more safe.
There are more options either you do have 2 or 3 trading accounts with the same broker or divide your capital among different brokers. I like the last one because I can avail a variety of trading as well as be satisfied if one is not good other can be the right choice for that trading style. I will recommend trying different brokers never stuck with one broker which cannot fulfill our needs in the long run.
 
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