Hello, please can anyone advice me on any other broker to open an account with. I already opened an account with Profiforex, and I am trading successfully there with low spreads. So, I am looking for another reliable broker to use. Is it really ok to trade with two brokers.
[QUOTE=“editha;484035”]Hello, please can anyone advice me on any other broker to open an account with. I already opened an account with Profiforex, and I am trading successfully there with low spreads. So, I am looking for another reliable broker to use. Is it really ok to trade with two brokers.[/QUOTE]
Why do you want to use two brokers?
Hi, I trade with profiforex and Dukascopy. I started trading with profiforex, but I did not want to keep my money in one place after making so much profit. So after withdrawing some of my money, I opened an account with Dukascopy. I don’t know your reasons for wanting to trade with two brokers, but you should use review sites to look for reliable brokers.
[QUOTE=“mercybond;484040”]
Hi, I trade with profiforex and Dukascopy. I started trading with profiforex, but I did not want to keep my money in one place after making so much profit. So after withdrawing some of my money, I opened an account with Dukascopy. I don’t know your reasons for wanting to trade with two brokers, but you should use review sites to look for reliable brokers.[/QUOTE]
So you have to go to two different platforms to make the same trade at the same time…?
No problem, I’m trading with Hotforex and Fxpro at the same time. Each broker has some advantages and disadvantages, if you can take advantages for improving your trading, that’s good as you trade with two or three brokers.
However, please choose one broker as a main broker to get most profit.
I know traders have their reasons for using two or more brokers, but I thought you said you are newbie. Why do you want to use two brokers? I have an account with Profiforex too and as far as I can tell, they offer a good trading condition. There only a few brokers that offer low spread and low trading commission like they do. So, I suggest you settle down with one broker and develop your skills.
I heard Gain and GFT are both great brokers… maybe setup an account with each.
Yes, you can…I use Trader’s Way, Alpari and FXCM and a few other traders use even more…
So yes, to answer your query, you can use two or more brokers…
yeah, i read about some IBs trading with 14 brokers at the same time 
its ok as long as you can manage it, i trade with one broker at the moment, hotforex, and had to let go of the other one, its not that easy for me to do both 
best of luck
Am glad you figured that out, its one of the best ways to make profit. Also, its like an insurance in case any of the brokers decides to go AWOL.
[QUOTE=“mercybond;485248”]
Am glad you figured that out, its one of the best ways to make profit. Also, its like an insurance in case any of the brokers decides to go AWOL. I trust Profiforex anyway, its not easy to find a very transparent broker who cares about their traders.[/QUOTE]
Lol… One of the best ways to make profit…?? How exactly are you making more profit by doing that. If anything it reduces profit as it introduces a lot more opportunity for error then just using one broker… Best case scenario the profit is exactly the same as using one broker
Not exactly a way to make money! but I just want to remain in business should the unexpected occurs.
Do you really think, someone can manage 14 accounts with 14 brokers, that can be challenge. I have ready about Hotforex, but they don’t impress me. Which broker did you give up for them.
I gave up an indonisian based broker that had an office here in the philippines, that was way back early last year, and to be honest it had to many gray areas about it so i pulled out early, 14 accounts aint easy for just one person thats for sure, but some people would do crazy stuff for affiliate programs hotforex is alright, like for me personally I have nothing to complain about, im not master trader but i still get small profits and get paid so its all good.
Well, I used to roll with 2 brokers a couple months back but being a huge noob, I felt like 1 broker was more than enough for me. I’m still trading with one of those brokers though, profiforex, and I still am a newbie.
I have more than 23 reasons to trade with FXPRIMUS: 23 Reasons to Trade with Us - FXPRIMUS The Safest Place To Trade
Each broker lets you try their practice account. You can try them one by one until you found a suitable one for yourself.
Is good idea to use two brokers, aside the fact that you get enjoy both advantages. You don’t have to put all your investment in one place, plus it exposes you to different platforms all together. though currently am using but am making research on profiforex to see if i can open an account with them.
Am sure you can open an account with them. There are no restriction, it does not matter which country you are from, you get same benefit as others. You can check out the spreads and commission and you’ll be impressed.
If you find 2 brokers that have matching prices (same quotes provider) and both give you at least 100% bonus on your deposit - you can trade with both of them. You need to place an opposite trades at the same time, this way you can win the bonus on 1 platform and lose it on the other, but you will still keep the money you deposited in both places.
This is what we call Hedging. But this time, it has be done using two brokers. If you want to make more profit using this system, you’ll need to close out the losing trade and let the winning trade accumulate more pips.