I was discusssing with a professional trader and he told me that to help me trade while I go about my business, he would do account management on my behalf. He told me that I would have to provide him with my login and password on mt4 for him to do it. Is this safe? Is this accepted practice in the profession? If yes, what name is it called in forex trading so I can research on how it is being done and what I can say to him. Thanks
No, no, NO! It’s a scam. RUN the other way as fast as you can.
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Thanks. I appreciate it.
Lol, thank god you asked here first.
You should NEVER share your sign in and password with anyone.
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@Emekadavs
Hello,
It is an accepted tactic and is done by several traders.
It’s as safe as copying a trader’s signal from a provider (mql5, signalstart…).
The trader cannot deduct money from your account, the trader can only make transactions.
You can deceive a trader with this practice, but a trader cannot deceive you with this practice.
Why did I say this? Simply, paying the merchant will not be automatic, but you will do it in a certain way that you have agreed.
However, if you refuse to make the payment and change the codes at the same time, the merchant simply cannot claim the payment.
The other words are to have something to say …
Best Regards.
Your bank would be empty before the kettle boiled lol, If stuck I will help you and point you in the right direction to trade yourself