Query by Kat Hillard: Foreign exchange Broker Issues?
I’ve looked at what numerous web sites and discussion boards have stated about and how they have rated a number of different ECN brokers, based on a range of criteria.
What worries me most, however, is whether or not or not there are “maximum leverage amounts” and “withdrawal limits.”
What I mean by “maximum leverage amount” is not by how much your account can be leveraged (this kind of as one hundred:one or 200:one), but the actual maximum dollar amount. Somebody told me most brokers set a limit of 50 standard lots (or $ 5 million) per trade. Is this appropriate? Are you truly unable to acquire far more than 50 regular lots in one particular trade?
I was also told that quite substantial volume trades would be passed along to the true market, even by ECNs, and that this would avert the trade from getting executed “instantly.” Hypothetically, if you were trading $ one million or a lot more per trade, by how extended could your trade be delayed? Would it be minutes, or could it be several hrs or even longer?
And by “withdrawal limits,” I suggest are there usually limits in place as to how this kind of (in dollar quantities) any client is ready to withdrawal from his/her account to a bank account (or by means of a related procedure of acquiring funds out), this kind of as weekly or month-to-month? If so, if a person had been to truly turn into a Foreign exchange “millionaire,” would not it take him/her numerous decades just to withdrawal the cash from his/her account, little by small?
I’ve heard of dealing desk brokers that have “closed” client accounts due to the fact they grew also huge (have been also profitable). Nonetheless, would there be any cause or incentive for a actual ECN broker (a reliable a single) to close one’s account due to the fact it became as well large?
And may well it really depend on how huge the broker is? I’m looking at main and renowned ECN brokers such as MB Trading, Interbank FX, Interactive Brokers, Dukascopy, ACM, and ATG, among other folks.
Thank you in advance to any person who can tackle this query!
Answer by Sachidhanandam
Effectively since you are a lot more concerned I suggest you to hand on with foreign exchange realted forums.
the most active one particular is
Also there is a lot of guidebook post you must read which will give you more concept.
Know better? Leave your own solution in the comments!
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