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more than 1 broker at the same time

Harnas31
Feb 20 2015 at 22:37
3 posts
Hi
Is it legal to use more than 1 FX broker at the same time ?
I think I would prefer to have two accounts for 1000£ than one for 2000£

RahmanSL
Feb 21 2015 at 06:09
209 posts
It's completely legal to have more than one broker at the same time......I have 3 on live accounts and 6 on Demo and in competitions running on my computer at the same time 😁

I use Demo account(s) to test out broker MT4 trading platform performances and also to 'test' trades before entering trades on live account(s)......trading competition is to keep my brain in 'fighting condition' for trading the forex market 😁😀😎

Xiantero
May 04 2016 at 07:00
45 posts
Of course it is. Thus it is a good way to test brokers in search of appropriate ones

mlawson71
May 04 2016 at 09:08
1487 posts
Generally when you ask whether something is legal you should probably specify about which country and/or jurisdiction you're asking. That said, it should be completely legal everywhere. At least I haven't heard of any restrictions in any country in that regard.

vontogr (togr)
May 05 2016 at 09:04
4862 posts
Harnas31 posted:
Hi
Is it legal to use more than 1 FX broker at the same time ?
I think I would prefer to have two accounts for 1000£ than one for 2000£


It is legal to trade under more brokers.
It is also legal to have more accounts at the same broker.
Check my profile to see how to diversify the broker risk:)

mlawson71
May 07 2016 at 10:48
1487 posts
Good point. These things aren't only legal, they're likely also necessary to lower the risk of losing money if one of the brokers goes under.

Mthiya
May 08 2016 at 20:37
22 posts
Can you guys please suggest best broker fro me. I am considering FxPro, ICMarkets, Globalprime and FXCM. At least after googling I came up with these 4. I am about to open my first live account please help me choose.

vontogr (togr)
May 09 2016 at 06:01
4862 posts
Mthiya posted:
Can you guys please suggest best broker fro me. I am considering FxPro, ICMarkets, Globalprime and FXCM. At least after googling I came up with these 4. I am about to open my first live account please help me choose.

I would go with IcMarkets.
FxPro is also reputable but it has way higher spreads.

Mthiya
May 09 2016 at 10:24
22 posts
Thanks for reply @togr . That means I will open accounts with both of them since diversifying broker risk is important.

positiveflow
May 09 2016 at 12:20
1 posts
Mthiya posted:
Can you guys please suggest best broker fro me. I am considering FxPro, ICMarkets, Globalprime and FXCM. At least after googling I came up with these 4. I am about to open my first live account please help me choose.


IC Markets has been good to me so far especially with the ECN option.

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