Is it good to use two Brokers

gerryg

Active member
Sep 9, 2013
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#32
2 brokers is normal, but if you try to trade simultaneously 2 brokers, you could make more mistakes than one.
To trade 2 brokers simultaneously I use autotrade feature provided on my Нotforex platform. Using HF's account as master and other accounts as slave I can execute same traders on different platforms, compare spreads, execution, etc. Very useful feature..
 

gerryg

Active member
Sep 9, 2013
915
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#34
I trade with three brokers to diversify my trading risks and I use auto copy feature on metatrader to execute orders on second two accounts. I believe liquidity for order filling will be even better there.
 

trade2bpro

Active member
Nov 5, 2013
147
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#35
you can try more than one broker and you should do it, but trading wiht both two-brokers at a same time is not a good thing because you could see one is worse than other one, just simply tell you no brokers offer same market price always.
 
Mar 5, 2017
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#36
There are number of advantages when we are choosing two brokers, splitting the funds between two accounts, one broker may not provide all the facilities so find it in another broker.
I am not willing to trade with two brokers as that’s very difficult to main tow account at the same time, if we can make sure the most credible trading platform , I think it is quite enough to trade with just one broker ,
 
Mar 14, 2017
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#37
If you have larger investment then it only make sense to do that, but for traders with amount under 1-2k, it is not wise to use multiple brokers. I use Octafx and Exness, but my investment is around 2.5k in each. I mostly do this to keep myself secure and to avoid unnecessary situations like we have seen happening with FXCM recently. But if my investment was just 1k then I would simply like to go on with just one broker.
 

gerryg

Active member
Sep 9, 2013
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#38
I have three brokers which I trade with. It was long and thorough process of selections, chatting with support, reading ToS but now I really know that these are important steps you should make if you want to make right choice.
 
Feb 9, 2017
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#39
I'm thinking of working with two companies to insure my funds, but I have to earn more to have those funds that I can invest into the second one.
But in general, I think it's a nice idea!
 

progix

Active member
Feb 25, 2016
212
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#40
It's safer to start with more than one broker.
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.
 

gerryg

Active member
Sep 9, 2013
915
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#41
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..
 

Peter Borren

Active member
Apr 8, 2017
166
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#42
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.
 

gerryg

Active member
Sep 9, 2013
915
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#44
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.
 
Mar 19, 2018
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#45
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.