What concerns me is this ?
eg I buy say 1 mini lot of $10 000 (using 100.1 leverage for $100)
What happens if something awful happens and the dollar crashes - and I mean really crashes and my broker cannot close my position.
Can i lose that whole $10000
What would happen ?
Thanks in advance to anyone who answers i find the prospect quite concerning - if anyone considers it a stupid question dont spare my feelings.:eek:
Nope. If a trade turn against you your broker will close it before you lose more than what you have in your account.
Thanks caesar95.
You have reassured me to a point although my brokers smallprint does advise that i can lose more than the balance of my account.
I have read another post on this site re this topic - it states that if a currency crashes for example due to a nuclear attack and the broker cannot close the trade then it is possible to be lumbered with huge losses.
just dont want to loose my house for the sake of a micro account with �130 in it.
:eek:
Technically speaking you could lose more than your deposit (unless your broker explicitly says otherwise). The odds of that happening are very, very, very small, but it could happen if the market totally gaps through your maximum loss point.
thanks guys
will try to focus on winning rather than losing but
brokers should really guarentee not losing more than your balance - and stops.
anyone know brokers that do ?
That’s just a formality that the lawyers make the broker put in the fine print. The chances of it happening are about as close to zero as you can get.
And even if it does happen you can’t lose your house on an account that small. The pair would have to drop a couple million pips to lose that kind of money.
If it did happen you’d owe the broker a few dollars on an account that size, not your house. 
as a noob, that was one of my first questions / concerns. My second question was how long does it take to double your account… I’m glad I asked that one.
In case of a nuke attack I think forex would be the least of our worries 
Definitely you can lose more for starters - your mind and your life as you know it
Never before, in the history of trading, have truer words been spoken:
Definitely you can lose more for starters - your mind and your life as you know it
TAKE HEED!!!
Thanks trav72.
Regards,
Dale.
I trade with Ac-markets and they have kind of a limited risk system. It shots down your orders when you approach to 1% of your account so you never get with 0funds, I think that is very goo. Plus no other broker has it�.
Hello,
I trade with Ac-markets and they have kind of a limited risk system. It shots down your orders when you approach to 1% of your account so you never get with 0funds, I think that is very goo. Plus no other broker has it�.
Nice facility but there is another broker that goes ONE BETTER than that (Deltastock) i.e. they call you and / or email you when your free margin percentage reaches 30% and if you take no action (deposit additional funds or close some open positions) they will close some / all of your open positions when your free margin percentage reaches 0%.
ALL of the above is GREAT EXCEPT for ONE THING: YOU ARE OVERTRADING AND WILL LOSE YOUR MONEY ANYWAY (although not more than you deposited) if you put yourself in a situation where the broker is forced to close your open positions!!! MONEY MANAGEMENT is what counts!!!
Regards,
Dale.
I thought every broker does that. Correct me If I misunderstood the topic but isn’t this why margin calls are used? 
wrtm_19:
No: you’ve not understood ANYTHING (in my opinon). That IS the point of a margin call and it IS what happens in practice. I think there is a bit of confusion here though (not on your part I might add): RETAIL TRADERS (like us) should NEVER be able to lose more than than their initial deposit. HOWEVER: in the ‘big wide world’ it IS possible to trade through a STOCKBROKER on margin and lose more than your initial deposit because you may have some type of credit facility with the stockbroker and in THIS instance you COULD lose more than your deposit (and would then owe the broker the money). I don’t believe that this affects RETAIL TRADERS (because as you so rightly state: you would get margin called LONG before this happened). I understand what some people are saying on this thread i.e. in the case of a HUGE move in one direction or the other your account balance MAY go negative but I can assure you that it will NOT be of a ‘material’ amount (I’m talking about a FEW USD ‘here and there’) and I can also assure you that NO broker is going to institute legal proceedings against the trader to recover $20 (or so)!!!
You have to compare ‘apples with apples’ in this case.
Dale.
Ok I got it, but what caused me some noise here is that Forex29 claims that AC-Markets is the only broker that closes your positions once your account has reached a certain amount so you don’t lose all of your money.
Here I beg to differ since in my short experience in Forex I undertand that almost every broker (if not all of them) do this. So not a special feature at all from a particular broker.
Either way the fact that someday you get a margin call talks about a really bad money management IMO and that should never happen with proper mm.