I have a business colleague who had complained about
a wire transfer being slow from FinProTrading. But then he
switched from a regional to a national bank and there were
no issues at all. So I don’t have any direct experience with
difficulties at FinProTrading transferring money.
My understanding is that TurnkeyFX.com (just focusing on the
websites for identification) is the service provider for both
TurnkeyForex.com and FinProTrading.com .
I won’t be holding more money in an account than necessary,
and will be using from 30% - 60% of buying power most of
the time… So, in the end, if an account is totally lost it will
already have generated far more in revenue that what might
hypothetically be lost, worst case… So I don’t worry.
Gedanken Experiment: Roughly, with 500:1 leverage,
$5,000 equity will control 500x5000 = 25 lots of
buying power, so a $10,000 account would be using roughly
half its buying power controlling an aggregate 25 lots more
or less continuously. Roughly, 1 lot is $10/pip so that’s
$250/pip aggregate buying power… that’s how I think about it. So
10 pips throws off $2500 / day which makes $10,000 in
a week or so as revenue… That activity is spread over 28 Pairs,
where perhaps a dozen are active at any given time to achieve
the aggregate result. That’s how it should work.
Just using even half of that buying power,
you have 2 (or a few) weeks to offset any
risk of losing the original a$10,000 account equity…
and you’re already break-even. But that $10k is not
going to be lost, or at least I’m not concerned about it
[EDIT] That’s the advantage of using 500:1 leverage brokers,
as opposed to 50:1 which reduces the equity risk by a factor
of 10 to achieve the same work. The work is done by a BOT
which holds a large number of concurrent positions. Where each
"position" in a Forex symbol like EUR/USD is actually somewhere
between 2 and 4 price and lot size staggered positions to improve
the cost basis, etc…
[EDIT2] … and then everything that BOT does is “slave copied” into
several other brokers which are unrelated to the first one… That
should diversify risk over brokers.