Should you have at least 2 brokers?

[ProTrader]

Well, I remember the old saying that you should not put all your eggs in one basket and It is probably true in the financial market.

So,

- should you have at least 2 brokers?
- What is the brokers you choose?
- Your strategies about investment in each broker, such as percent of fund in each broker, withdraw and deposit, etc.

Feel free to share your thought.

 

[Markllee30]

No i dont think so because if you will take suggestion f two broker you defiantly get confuse in trading s better to trade with single broker.

 

[jackcm]

I think there is no need to trade at two broker at a time. Trader should choose which broker is suitable for him/her then decide to join. I don't know what trader can do with two broker.

 

[naninov]

i use many brokers to use for trading as i found something benefits frim one broker to another, i think every brokers has their own unique service that can make a trader stick using it even sometimes they has less on some services... and of course for safety of funds reason using more than one broker will keep us away from getting trouble from unwanted scam or closed broker

 

[kaiceaziz]

Yeah you should have even more than 3 brokers to make comparing and testing who is the best and who is making a little cheat in the market trend. For sometimes broker may delay the order excution for seconds. Other thing is to not risk all the money in one broker. I would choose maysus then instaforex.

 

[winuga]

yes it is always better to have more than one broker, i already try brokers and i like doing it testing new broker and try their services, so i experienced myself which services one broker better than the others, and i choose some of them to trade live because more safe using more broker rather than one as i ever experienced get scammed by bad brokers such as figfx

 

[Angelic]

it will depend on the trader and how he wants to do his or her thing. For instance one who is having huge capital can have two trusted brokers or more. Having many brokers does not contribute however to making profits specially.

 

[Cutiekc]

There are no needs for much brokers since in a broker there are also multiple trading accounts availabe and a trader can trade on different pairs in them. The only reason that will make me have more than one broker is perhaps because of the forum bonus.

 

[barood4money]

There are no needs for much brokers since in a broker there are also multiple trading accounts availabe and a trader can trade on different pairs in them. The only reason that will make me have more than one broker is perhaps because of the forum bonus.

Yes, I agree with that. If you are getting all the facilities from one broker then when why to take pressure of two brokers. Yes, It is advised to before selecting the broker we should always check it's background.

 

[Cutiekc]

Yes, I agree with that. If you are getting all the facilities from one broker then when why to take pressure of two brokers. Yes, It is advised to before selecting the broker we should always check it's background.

Well, have come to think of it. Well, all brokers are unique. Like for some traders who will be needing the hedging allowing broker might get that broker only to find out that the spread they impose on pairs are much. So at times its had to find a broker that fully gratifies us.

 

[barood4money]

That is true also. Different brokers give different facilities. We have to think first that what we need. And according to that we can search brokers. If we get all we need from one broker then no need of searching for other broker.

 

[budado]

Having one broker is no problem. But its good if you can spread your funds in many broker sites as much as possible. In this way some how if one broker went down you can still end up having money to trade and earn back your loses.

 

[Decub]

Operating and staying with one credible broker is not a bad idea even when some advocate for a spread in investments. However, if one has the capital to go around, then it wouldn't be bad either to spread them across.

 

[barood4money]

Operating and staying with one credible broker is not a bad idea even when some advocate for a spread in investments. However, if one has the capital to go around, then it wouldn't be bad either to spread them across.

Thats not a bad idea. But i think that if you have huge capital then also staying with one genuine broker and trading with various products is the best idea. It will reduce the work pressure of handling multiple brokers and trading transactions.

 

[Decub]

Thats not a bad idea. But i think that if you have huge capital then also staying with one genuine broker and trading with various products is the best idea. It will reduce the work pressure of handling multiple brokers and trading transactions.

You know why some would prefer spreading it across brokers is mainly because of the fear of one broker turning scam even when the chances are minimal.

 

[barood4money]

You know why some would prefer spreading it across brokers is mainly because of the fear of one broker turning scam even when the chances are minimal.

Yes, that is the common fear between every person. Even I think same like. But still i think that if there is a chance of one broker turning scam then then there is also a chance of multiple brokers can change into scam. So if I ever invest through the broker, then i will take time to go through the background and genuineness of that broker.

 

[Decub]

Then it comes down to the fact that adequate and comprehensive research is always necessary before one could embark on any journey of choosing a broker. Not that trusted brokers don't turn scam but there are minimal tendencies.

 

[barood4money]

Then it comes down to the fact that adequate and comprehensive research is always necessary before one could embark on any journey of choosing a broker. Not that trusted brokers don't turn scam but there are minimal tendencies.

Yes that is right. We can only believe that a particular broker can be trusted, when we get the proof of their genuineness. And that can be only found when we search for it.

 

[Decub]

Yes that is right. We can only believe that a particular broker can be trusted, when we get the proof of their genuineness. And that can be only found when we search for it.

I still see it as one of the benefits of Forex Forums. At least, hanging around those forums gives you an insight of what previous traders who must have made patronized the brokers think about them.

 

[ryuken]

If you are trading with low money then it hardly matters how many brokers you own or have. but to be honest. I think you should consider that having 2 brokers is something you need to understand for making much better money by comparing them. it is good for comparison when you add more than 100 bucks in each of them.