How many of you trade more than one broker at a time? - Forex Questions and Answers - FXAnswer

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How many of you trade more than one broker at a time?

I know of traders doing this in the FX spot market to hedge their trades...or take a long term trade with one broker and use the faster more reliable to scalp.

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- Tyce
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1 year ago

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0 Votes I have around 6 or so. One of the reasons being is that with some spread betting companies here in England, If you had a winning run, they would 'mark your card' so to speak, and make it difficult for you to trade by hanging quotes, re quoting at horrendous prices, dealer intervention, platform crashes, and any trick they could think of. You would be in a 'loop' and on their radar. One way to get around this was to stop trading with them for a few weeks/months and use one of the others. Another way was to have a couple of losing trades on purpose. (Yes, Really), This would get you off the radar and out of the loop for a little while. This was in the early days of sb's and they pulled many a stunt. They are after all your equivalent if you live in the usa to a 'bucket shop'. They of course would never admit to any of this. They would never admit to closing winning traders accounts either. by Phoenix 1 year ago by Phoenix 1 year ago
0 Votes i have 6 by hanan 1 year ago by hanan 1 year ago
0 Votes I have two brokers but only trade with one. I think that if you are not experience it is better to trade with only one first. by RPT 1 year ago by RPT 1 year ago
0 Votes I have no problem with my broker for now so no need for another one. by Harold 1 year ago by Harold 1 year ago
0 Votes me... fxcm with ibfx.. by deejavu 1 year ago by deejavu 1 year ago

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I have around 6 or so.
One of the reasons being is that with some spread betting companies here in England, If you had a winning run, they would 'mark your card' so to speak, and make it difficult for you to trade by hanging quotes, re quoting at horrendous prices, dealer intervention, platform crashes, and any trick they could think of.
You would be in a 'loop' and on their radar. One way to get around this was to stop trading with them for a few weeks/months and use one of the others. Another way was to have a couple of losing trades on purpose. (Yes, Really), This would get you off the radar and out of the loop for a little while.
This was in the early days of sb's and they pulled many a stunt. They are after all your equivalent if you live in the usa to a 'bucket shop'.
They of course would never admit to any of this. They would never admit to closing winning traders accounts either.