more than 1 broker at the same time

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'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 😁😀😎

Of course it is. Thus it is a good way to test brokers in search of appropriate ones

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.

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:)

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.

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.

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.

Thanks for reply @togr . That means I will open accounts with both of them since diversifying broker risk is important.

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.

ICMarkets are great, haven't had server down time in quite a long time now.

Just nothing special about that. Especially if you open the same trades on all of them that would be reasonable to compare your brokers

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 😄

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.

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.

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.

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