Greetings,
A quick question as am a new to FX … Will it happen that my account credit become in mines if I lose in some trade? If yes so will my broker redeem the mines value to zero?
Greetings,
A quick question as am a new to FX … Will it happen that my account credit become in mines if I lose in some trade? If yes so will my broker redeem the mines value to zero?
You mean, “minus?” As in negative balance, because you lost your account, and then you owe the broker?
Short answer: With the majority of forex brokers NO.
They will margin call you before 0, to cover the trade. If you don’t have enoug margin for your lot size the trade won’t enter and you will be returned to flat.
In stock market trading that can happen. Generally in forex, they will just margin call you to 0.
However, make sure to check the policy of the broker first. Assume nothing.
Oh yes my poor spelling … thank you for the answer I will make sure of that as am still on the process of finding a good honest broker with a start of 1K … If you can suggest me a good broker will be great
I’ve found IBFX to be good and honest for my micro account. Good support through live chat, they’ve always given me satisfactory answers to questions and problems.
I can’t give you comparison to others, as IBFX is the only one I’ve traded live with as of yet.
thanks for the suggestion … I tried to do some search on google but I found many un-happy users for IBFX
I’ve read the same reviews. IMO, most of the complaints are sour grapes, people who don’t understand the platform and newbs blaming their losses on the broker.
Most of the complaints are about, “requotes.” Requotes happen in a busy market as price moves. You set a SL or TP to close the trade and it won’t be a problem.
You’ll find complaints on just about all brokers. Noob traders don’t like to admit fault, it’s easier to say the broker is a crook.