You are a Pro Forex trader, and earning, lets say:
20,000$, 50,000$ or 1,000,000$ monthly without glitches or cheating?
Another question, If you earn money, this mean they lose? or they get the Fee only (spread)?
Thanks
They won’t ban you, but you are likely to run up against position limits which would make it hard to reach those lofty levels.
As for where your profits would come from, the answer is mainly other traders.
trust me if you are making that kind of money then it will no longer matter if Oanda bans you or not
If you are making that kind of money a month then you would be clued up enough to use multiple brokers or accounts. After all you wouldn’t put all your eggs in one basket. I’m more interested in knowing HOW to make that kind of money a month than dreaming about it …
makes no sense that they would ban you, if anything you increase their volume and that means they make more cash in the back end
No matter how much you make, they’ve already made more than you.
Nope, but I wouldn’t want to stay with a retail account with that kind of money…
In Canada, Oanda has CIPF on their accounts which cover deposits up to $1 million. Their spreads don’t widen if you increase your order size (unlike firms that cater to larger traders such as CitiFX Pro,) and they do instant dealing up to $10 million in a shot at the price you see quoted (which sorta justifies why some spreads aren’t as aggressive as I’d like them to be.)
But yes, unless you need that kinda balance to employ your strategy, it’s best to keep it at a bank and only have your broker funded with what’s required to trade.