Is it good to use two Brokers

[gerryg]

Having more than one broker reduces the risk of loss in case broker went bankrupt. Moreover i have found out that withdrawing profits regularly and keeping the necessary capital with broker is also good to practice in order to avoid any problems in future.

How do you manage trading with several brokers? Do you use special software or manually set orders? I consider it difficult to handle all at once that's why used to keep platforms working via mt4 autotrade tool..

 

[EddyJones]

Havent read the thread fully,but I use two brokers. One is a so called bucket shop that gives me great prices on most majors and the other I use as it gives better spreads on the other pairs,simple as that

I have the same. I guess it's profitable way

 

[gerryg]

New Forex traders should not trade with several brokers because of lacking live experience of trading. Managing different accounts in same time is really tuff task that can do only experience or senior traders easily.

Pro traders work on proprietary platforms, or banks. Pro retail traders are rare case now, considering that to be competitive only skills are not enough.

 

[CelineArina]

Yes using 2 brokers is a good idea. I am also using 2 brokers. Recently I opened a new account with Cardinal markets. It is giving me profitable and I am very happy now use the brokers.

 

[gerryg]

Yes using 2 brokers is a good idea. I am also using 2 brokers. Recently I opened a new account with Cardinal markets. It is giving me profitable and I am very happy now use the brokers.

What is the first broker that you use?

 

[NVP]

Hello, I am not sure about this, but I feel like opening another account with another broker. I currently use **********. Although I have made a reasonable amount of money there, but I feel like splitting my profit in two and moving the other half to another broker. If you think this is ok, please recommended another reliable broker, where I can trade successfully as I do with **********.

I recommend using a few to rotate funds and keep them on their toes

N

 

[hatemypips]

I recommend using a few to rotate funds and keep them on their toes

N

How we should interpret that?

 

[juuan]

Man, is just too much problems, you have to be a really good trader in my opinion...

 

[hatemypips]

Use as much brokers as you can, probably through master account to avoid hassle with managing them all. Your click or trading decision should spread between them instantly in automated mode.

 

[profit838]

Its always a good idea to split up the portfolio into two accounts if you have come considerable amount of money so that you can find some sort for security for yourself. I have more than two accounts. You may consider any well regulated and reputed broker for trading.

I think it is good to have accounts with two forex brokers, important that these brokers are in different jurisdictions.