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Do you place your money in one broker or divide it?
Feb 16, 2015 at 08:16
Member Since Feb 05, 2015
3 posts
I am curious what other people do:
I always have a certain fear, my money is never safe online. Many already experienced like frozen accounts, from gaming to ewallets and broker platforms.
Do you guys stick it in one broker or use multiple? in case something happens to one, you are not stuck at all anyway.
Might be a dumb question lol so don't shoot me lol.
I always have a certain fear, my money is never safe online. Many already experienced like frozen accounts, from gaming to ewallets and broker platforms.
Do you guys stick it in one broker or use multiple? in case something happens to one, you are not stuck at all anyway.
Might be a dumb question lol so don't shoot me lol.
Feb 16, 2015 at 12:33
Member Since Feb 11, 2015
25 posts
Forex21 posted:
Personally, I prefer to share my capital. Though, deposits are safe with most brokers (at least when they are regulated), it is still the best to make sure you have a plan B for a worst case scenario (broker goes bankrupt).
Isn't there something like an insurance for such a case? Where the broker goes bankrupt?
Member Since Feb 22, 2011
4862 posts
Feb 16, 2015 at 13:15
Member Since Feb 22, 2011
4862 posts
RlySrsly posted:
I am curious what other people do:
I always have a certain fear, my money is never safe online. Many already experienced like frozen accounts, from gaming to ewallets and broker platforms.
Do you guys stick it in one broker or use multiple? in case something happens to one, you are not stuck at all anyway.
Might be a dumb question lol so don't shoot me lol.
@RlySrsly
Always diversify. Different accounts at different brokers and currencies.
Feb 17, 2015 at 08:39
Member Since Feb 05, 2015
3 posts
Thx for the replies.
@dty12 : I am not completely aware how far a retail trader is protected. probably depending on the brokers policy too.
But also my question was pointing to the case if you bet it all on one horse or several. Lets say your money is stuck in an account (frozen for example due various reasons) you won't be able to trade until its re-opened.
@vontogr : Different currencies? for what specific reason(s) you would do so?
@dty12 : I am not completely aware how far a retail trader is protected. probably depending on the brokers policy too.
But also my question was pointing to the case if you bet it all on one horse or several. Lets say your money is stuck in an account (frozen for example due various reasons) you won't be able to trade until its re-opened.
@vontogr : Different currencies? for what specific reason(s) you would do so?
Member Since Feb 22, 2011
4862 posts
Feb 17, 2015 at 11:04
Member Since Feb 22, 2011
4862 posts
RlySrsly posted:
Thx for the replies.
@dty12 : I am not completely aware how far a retail trader is protected. probably depending on the brokers policy too.
But also my question was pointing to the case if you bet it all on one horse or several. Lets say your money is stuck in an account (frozen for example due various reasons) you won't be able to trade until its re-opened.
@vontogr : Different currencies? for what specific reason(s) you would do so?
Well it is always better to diversify,
Imagine you had account in RUB or EUR only. In such case you lost a lot recently.
Feb 17, 2015 at 11:10
Member Since Feb 11, 2015
25 posts
RlySrsly posted:
Thx for the replies.
@dty12 : I am not completely aware how far a retail trader is protected. probably depending on the brokers policy too.
But also my question was pointing to the case if you bet it all on one horse or several. Lets say your money is stuck in an account (frozen for example due various reasons) you won't be able to trade until its re-opened.
@vontogr : Different currencies? for what specific reason(s) you would do so?
What do you do yourself?
Member Since Sep 09, 2014
65 posts
Member Since Dec 10, 2014
107 posts
Mar 14, 2015 at 14:11
Member Since May 25, 2014
3 posts
Never use only one
1) You never know if they will pay you back (counterparty risk diversification)
2) In case your broker has technichal problems (server,...) you can hedge positions with another.
but of course it depends on the amount you are trading with - if you have less than 5k stick with one.
1) You never know if they will pay you back (counterparty risk diversification)
2) In case your broker has technichal problems (server,...) you can hedge positions with another.
but of course it depends on the amount you are trading with - if you have less than 5k stick with one.
Mar 14, 2015 at 14:11
Member Since Jan 22, 2013
6 posts
I have three different broker accounts - brokers do go broke, even reputable ones and it seems best to spread your capital around. In the same way you wouldn't keep all your capital in your trading account, only the 20% or so that you would trade with on a monthly basis.
Member Since Jan 19, 2015
206 posts
Mar 15, 2015 at 08:04
Member Since Jan 19, 2015
206 posts
its better to us 2-3 brokers and divide ur trades too if its difficult to manage more than one account manage only one using an ea called trade copier free use technology to protect ur money
Greed and Non acceptance are the biggest enemies
Member Since Jan 19, 2015
206 posts
Mar 15, 2015 at 08:13
Member Since Jan 19, 2015
206 posts
google mt4i copier and try it on demo with different deposit like 1000 10k and 100k u will see its usefull in managing the bigger account using smaller as it creates positions according to percentage but be wise with smaller account copier synchronises your trade with different brokers
Greed and Non acceptance are the biggest enemies
Member Since Feb 04, 2015
12 posts
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