Any point in having two accounts?

[Klingende_Mynt]

[B]I am a new hobbytrader.[/B]

[ul]
[li]Main account $10K, $18k with bonus
[/li][li]Additional account $3k, no bonus
[/li][li]Profit in 3 weeks, $1000
[/li][/ul]

My broker recommended opening an additional account in order to get a 50% bonus. Which I did, but whats the point? Broker said, “he knows a lot of guys who prefer two acconuts”. By no means do I feel ripped of, I can allways transfer my money to my main account. I dont need the 50% bonus anyway, which by the way I havent even been given.

PS! I buy small amounts, from 0,1 - 0,5 lots. Mostly USD/JPY. Is that crazy much, with my small capital?

[Mr_Signals]

If you have large accounts and want to spread the risk between brokers then it makes sense. But not if they’re with the same broker.

[Kanbike]

No real point if you’re opening with the same brokers. You could have an advantage if you opened an account with say an ECN broker and a non-ECN broker, and trade both of them. After awhile you could see which one performs best and transfer your money into that one.

[simbafx]

Sometimes useful if one broker has problems and you’d like to hedge an open position

[danyrexy]

Yeah, its always a good idea to hold several accounts with different brokers. Funds security, being able to compare prices and freedom to select the best price on offer, Though be careful with anyone offering free money_ 50% bonus…
But good luck anyway…

[MrGone666]

Those bonuses are always twisted somehow. In most case you have to trade at least once per day in order to keep it.

[soul786]

Companies don’t just give free money away, there’s always something hidden that makes it tough or near-impossible to keep those bonuses.

If I were to have multiple accounts it would only be with more than one broker for the same reasons mentioned above;

1. If one broker’s system goes down I can trade on another
2. Hedged positions
3. All my eggs won’t be in one basket
4. Different brokers with better spreads for different pairs

etc etc.

Point being, if you’re profitable, you don’t need the bonuses. Keep it simple and have less on your plate to contend with. Especially when it comes to forcing trades if there are stipulations on the bonus.

[shanza]

If you have large accounts and want to spread the risk between brokers then it makes sense. But not if they’re with the same broker.

Agree with you, online earning is not safe, besides the risk involved in forex, there are many other factors that we have to look upon as an online earner, just keep in view the matter of LR.

[TheLastBear]

I agree that it makes no sense to have more than one account with the same broker and a broker who recommends that you should open another account in order to get a bonus is the broker I would stay away from.

[jonelito]

Those bonuses are always twisted somehow. In most case you have to trade at least once per day in order to keep it.

I thought I was the only one who feel this way. I don’t know much, but bonuses are kind of different from your real money. How do brokers make bonuses difficult to use or make success with it?

[perryfx]

[B]I am a new hobbytrader.[/B]

[ul]
[li]Main account $10K, $18k with bonus[/li][li]Additional account $3k, no bonus[/li][li]Profit in 3 weeks, $1000[/li][/ul]

My broker recommended opening an additional account in order to get a 50% bonus. Which I did, but whats the point? Broker said, “he knows a lot of guys who prefer two acconuts”. By no means do I feel ripped of, I can allways transfer my money to my main account. I dont need the 50% bonus anyway, which by the way I havent even been given.

PS! I buy small amounts, from 0,1 - 0,5 lots. Mostly USD/JPY. Is that crazy much, with my small capital?

Better if you can trade with one account if the broker is the same. Don’t follow bonus and trade with your real money.
But if you have 02 trading systems, you can try these systems on 02 separate accounts. But that is not essential.

Trading with 0.1 - 0.5 lot range is the best range with your current account sizes.

[dollace]

It’s very normal to have 2 account in one broker (one VIP and one micro) or in 2 seprate brokers.

[Amale_Sara]

Have you read the terms and conditions of the Bonus? sometimes it’s really really really hard if not impossible to take advantage of it. It’s just a marketing scheme to attract clients.

There is no point in having 2 accounts, I agree with Danrexy its best if you have different accounts with different brokers, to compare prices/trading conditions, and diversify the risk.

[orni308]

Don’t go for it, no need for an second account with same broker…

[datamonkey]

I have 2 accounts but only because I trade Forex spot and the emini’s.

Not sure why you’d bother with bonuses when trading itself will make them insignificant?

Luckily the pipdaq setups have enabled me to use the same strategy across different markets otherwise I’d probably only have the one account!

[pipken]

I have 2 accounts but only because I trade Forex spot and the emini’s.

Not sure why you’d bother with bonuses when trading itself will make them insignificant?

Luckily the pipdaq setups have enabled me to use the same strategy across different markets otherwise I’d probably only have the one account!

Datamonkey, can I ask you a question?
You mention pipdaq setups. It sounds interesting. Where can I get some information about it?
Thanks,
Pipken - Another Newbie

[Amale_Sara]

I thought I was the only one who feel this way. I don’t know much, but bonuses are kind of different from your real money. How do brokers make bonuses difficult to use or make success with it?

Brokers attract more clients with the bonus scheme, so more clients, more money, and they make the conditions so tight and make sure you trade a lot more volume than you normally would in order to earn on spreads. Plus the bonus is never ever ever never ever like ever withdrawable. The broker knows that the client who goes for bonus is not a serious trader, he just likes free stuff!Plus why do you need a bonus when you are using leverage?

[billyboy402]

Most bonus can’t be cash out until you made x trade ( in which the broker received brokerage )

Some bonus can be lost

Eg $100 + 50% = $150 you can lose

In theory

If you had 2 account and buy / sell one each let it run until you hit margin - you have just made $50

[Amale_Sara]

I never thought it was withdrawable, nobody gives away free money. Theres a catch in all business, we all know that. I was going to deposit $3000 anyway, didn’t really care so much for the 50% bonus. By now, thank’s to you guys, I decided to just transfer the $3000 to my main account. Like you said, who cares about the bonus! I can always use leverage, which I obviously do, with some of caution.

I have to stress out that I don’t feel scammed by my broker. He is just doing his job, being an aggressive sales man, making more clients and making sure they deposit more money. Got do love the capitalistic part of the world, right?

PS! Still haven’t got the 50% bonus, he—he! Perhaps because I haven’t traded anything using that account.

I agree with everything you say except one thing: when it comes to investment/trading there should not be a catch at all, there should not be an inch of a shadow of a doubt, everything I mean everything has to be transparent, and this boils down to how and why you choose your broker, but that’s a lloooonnnnnggg subject. I mean it’s hard enough to predict the markets, so one does not need to also doubt their brokers offers.

[billyboy402]

i never open account unless there a bonus

either $500 free brokerage for shares or free charting software for forex
if they want my bussiness they better offer some thing that another broker isnt