more than 1 broker at the same time
Feb 20, 2015 at 22:37
812 Paparan
17 Replies
Ahli sejak Feb 15, 2015
3 hantaran
Feb 20, 2015 at 22:37
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£
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£
Ahli sejak May 08, 2010
214 hantaran
Feb 21, 2015 at 06:09
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 😁😀😎
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 😁😀😎
Ahli sejak Apr 01, 2016
45 hantaran
May 04, 2016 at 07:00
Of course it is. Thus it is a good way to test brokers in search of appropriate ones
Do your best
Ahli sejak Dec 11, 2015
1487 hantaran
May 04, 2016 at 09:08
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.
Ahli sejak Feb 22, 2011
4862 hantaran
May 05, 2016 at 09:04
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:)
Ahli sejak Dec 11, 2015
1487 hantaran
May 07, 2016 at 10:48
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.
Ahli sejak Aug 19, 2013
24 hantaran
May 08, 2016 at 20:37
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.
Ahli sejak Feb 22, 2011
4862 hantaran
May 09, 2016 at 06:01
Mthiya posted:I would go with IcMarkets.
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.
FxPro is also reputable but it has way higher spreads.
Ahli sejak Aug 19, 2013
24 hantaran
May 09, 2016 at 10:24
Thanks for reply @togr . That means I will open accounts with both of them since diversifying broker risk is important.
Ahli sejak Dec 12, 2015
1 hantaran
May 09, 2016 at 12:20
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.
Ahli sejak Jul 08, 2014
435 hantaran
May 09, 2016 at 12:21
ICMarkets are great, haven't had server down time in quite a long time now.
Keep at it
Ahli sejak Aug 12, 2016
15 hantaran
Jan 02, 2017 at 08:46
Just nothing special about that. Especially if you open the same trades on all of them that would be reasonable to compare your brokers
Ahli sejak Feb 12, 2016
427 hantaran
Jan 23, 2017 at 15:39
I find it very useful to compare as more brokers as you can. Because if you want to trade with different strategies – you may also need to find the best broker for each strategy (best broker on spreads, on execution time, on lower commissions, for scalping … etc. ) Then you can exchange your balance between brokers and made more profits. Go for it 😄
Accept the loss as experience
Ahli sejak Feb 22, 2011
4862 hantaran
Jan 23, 2017 at 15:39
TiffanyK posted:
I find it very useful to compare as more brokers as you can. Because if you want to trade with different strategies – you may also need to find the best broker for each strategy (best broker on spreads, on execution time, on lower commissions, for scalping … etc. ) Then you can exchange your balance between brokers and made more profits. Go for it 😄
Exactly.
I do differentiate my portfolio over different systems, pairs and brokers.
Ahli sejak Feb 04, 2017
40 hantaran
Apr 14, 2017 at 23:23
Why not? I think it is a smart idea trading from 2 different brokers. You can find some different experience. I use FxPro for Swing trade (Mostly major as they have higher spread for cross pairs), And FCA regulated Tickmill for scalping.
Recently scalping is my primary trading method as market uncertainty is growing. Whatever your broker choice, don't go without FCA regulation.
Recently scalping is my primary trading method as market uncertainty is growing. Whatever your broker choice, don't go without FCA regulation.
Helping new traders
Ahli sejak Jan 31, 2017
6 hantaran
Apr 18, 2017 at 11:25
Yes of course, its legal to use more than 1 FX broker at the same time, in fact this way you get to diversify your portfolio, experience different trading conditions and deploy different strategies according to the different conditions for the best results.
Ahli sejak Mar 24, 2017
5 hantaran
May 01, 2017 at 11:24
I find it very helpful to have two brokers, especially if there is high volatility. The spread on one broker can be massively different to another
Ahli sejak Feb 02, 2017
32 hantaran
May 19, 2017 at 08:18
forxprotrade posted:
Yes of course, its legal to use more than 1 FX broker at the same time, in fact this way you get to diversify your portfolio, experience different trading conditions and deploy different strategies according to the different conditions for the best results.
Agreed! There’s no harm in going for more than one broker at the same time. It can actually benefit your trading strategies. At least it did for me. I mostly do long term trading plus day trading sometimes and have been operating with tickmill and finpro trading. I am taking benefits of both good trading conditions and low spreads. Diversifying your risk is always better.
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