How many accounts

[rjs950]

Hi...I'm wondering if it is best to use just one broker or to have 2 or 3 accounts with 2 or 3 different brokers....thaks in advance

 

[victoriajensen]

In my opinion it's a good idea to start with one account at one broker and see how one's doing before they decide whether or not they want to branch out.

 

[f2calv]

Once you start actively trading having an additional open account (funded or not) is a good idea in case there are technical/operation difficulties at your primary broker and you can then revert to your "backup" broker if a setup arrives which you absolutely *must* trade.

As I have recently discovered, trading in multiple brokerage accounts simultaneously I wouldn't advise unless you're very experienced/disciplined, as I found out to my detriment.

 

[alexaherself]

having an additional open account (funded or not) is a good idea in case there are technical/operation difficulties at your primary broker and you can then revert to your "backup" broker if a setup arrives which you absolutely *must* trade.

I agree - and I'd say "funded", at least for a trade or two, because if that suddenly happens there won't be time to allow for it.

It can also sometimes be useful (for UK residents wanting the tax-free profits benefit) to have both spreadbetting and direct-access accounts at the ready, for different purposes.

(I admit to having three funded accounts, myself, but I only ever really need two of them.)

 

[rjs950]

Thanks to all of you that replied to my question...it has been very helpful

 

[joshua77]

I agree with them.. I'm trying my strategy on two different brokers because sometimes I have problem to connect on one, and I use the other

 

[elisatrader]

I started with an unique account... but sometimes to apply my strategy I needed expiry times the broker I had chosen didn't have.. so now I'm holding two different accounts.. but as the others mentioned, it's better to rely on only one at first.. just in case you don't know how brokers work..

 

[fxgun]

It is ok to have more than one account. I had about two accounts with different brokers when I started forex. This even helped me to compare the services and to test different trading strategies on the platforms to choose which am gonna use for each strategy.