Multiple Forex broker account with central balance?

Trading Discussion
1

Is there any way possible to have multiple Forex brokers but using the balance in the single point, For example, If I have deposited 10000 to one broker, and i want the other broker to have the access and use the same balance so i don’t have to split it. It doesn’t have to be a “broker”. The central piece could be a third party service, Some account type. Can any one give me a direction to look at? Thanks

2

Hi @theCyberGuy,

Is your goal to protect your deposit? If that’s the case, it’s worth noting that if you trade through an FCA-regulated broker, then your account balance is covered for up to £50,000 by the Financial Services Compensation Scheme. If you trade through an IIROC-regulated broker, then you are covered for up to $1 million by the Canadian Investor Protection Fund.

3

You can also open several accounts, dividing your risks, and then use special software which allows copying trades on several accounts.

4

My goal is the carry trade with multiple brokers and swap difference. Two broker is for hedging the risk against currency movement. I could open two accounts, but then one account will get margin call and the other will go into profit. So i will have to close the trades and rebalance. Which will eat alot of my profit in commision and spread. Bit if the balance is in the single point, i wont have to do it.