Hi the honourable house. I wish to know your candid opinion on this: can money in ones trading account be lost to the system due to prolong period it remains in ones trading account? One month, two months or more?
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No, I have never heard of money in the account being lost in this way. Even if you don’t do anything with it, its still your money. But its safer in a bank.
Some brokers will charge you of there is no activity on your account in a certain minimum period. My broker’s T&C’s say they will start charging me £15 per month after I haven’t traded for 180 days.
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It depends. A scam broker and it can be lost.
An FCA regulated broker has deposits protected under FSCS so even if the broker goes bust you are protected. They also have to separate deposits from what they trade with, so shouldn’t be lost.
All that is for a UK citizen, not sure if it applies to foreign citizens, you can search that yourself
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I wonder if you’re thinking of inactivity fees? There are some brokers that put inactivity fees in place to sort of clear out the last bit of money left in trading accounts that are abandoned. After 30, 60, 90 or so days, they start to take anywhere from $10 to $30 or more from the account monthly if there is no trading activity. They would take the money regardless of how much the balance was. Most brokers don’t charge this, but the ones that do typically aren’t upfront about it, it’s usually buried in their terms & conditions.
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