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Thread: Are two accounts better than 1?

  1. #1
    I have one account operating with Axi Trader and I'm very happy with it,would you guys suggest keeping 2 accounts? Somebody advised me to have 2 accounts with separate borkers.

    What other broker do you suggest ? Is weltrade excellent ?

  2. #2
    Quote Originally Posted by ;
    quote How does this slow me down? I am able to take the very same transactions or disperse my transactions over several accounts. It does not matter. What does matter are the limitations concerning the amount of your cash regulators protect and if something occurs to or with one of your broker. Then you have a backup. I heard a lot of stories where brokers had difficulties when customers wanted to draw cash. As I said before, this will not apply for your small 10k account. You CAN do it with this as well, but it really gets its purpose when you have 30-50k...
    if you're afraid of your broker going in to default option you can pick a broker with FDIC, SIPC or FCSC protection.

  3. #3
    Quote Originally Posted by ;
    I have one account running with Axi Trader and I'm very happy with it,do you guys propose keeping two accounts? Somebody advised me to have two accounts with separate borkers. What additional broker do you suggest ? Is weltrade excellent ?
    What kind of deposit are you trading?
    If you're trading little it actually doesn't matter.
    If you're trading large there are various other solutions to get some safety for your own funds.

    Small meaning below 100K.

  4. #4
    Quote Originally Posted by ;
    quote What kind of deposit are you trading? If you are trading small it actually doesn't matter. If you are trading big there are various other solutions to find some safety for your own funds. Small.
    I have small accounts,thanks.

  5. #5
    A number of accounts are much better as you have more income. Merely to diversify risk in your broker side.
    Like an all eggs in a basket rather thing.

  6. #6
    It actually depends, IMHO, on what it is you are interested in trading. If you are not as diversified, and you're keeping separate accounts with brokers who focus on similar assets, then I am not sure what is actually gained by it. On the other hand, if a single broker has excellent conditions and choices in Forex, while another one concentrates more on, say, commodities, then two accounts could be profitable.

  7. #7
    Quote Originally Posted by ;
    Multiple accounts are much better as you have more money. Just to diversify risk in your broker side. Just like all eggs in a basket kinda thing.
    Not accurate, but it slows you down.
    There are other choices to safeguard your cash than distributing it over different brokers.
    However not one broker will offer it for deposits under 100K.

    Just stay with reliable brokers who also utilize solid banks for clients deposits.

  8. #8
    Both options have pros and cons,if we would like to distribute money then more accounts are better ,but if working on little capital ,it's much better to have one account,which means that your mind isn't redirected on separate accounts IMHO

  9. #9
    It might only make sense in the instance Beldavash used.
    Using 2 distinct brokers to trade the same instruments is just plain dumb.

    Different brokers for various financial markets of course can make sense.

  10. #10
    Quote Originally Posted by ;
    quote Not accurate, but it slows you down. There are other choices to protect your cash than spreading it on different brokers. However not one broker will offer it for deposits under 100K. Just stay with reputable brokers who also use solid banks for customers deposits.
    How does this slow me down?
    I can take the same trades or disperse my trades over multiple accounts. It doesn't matter.
    What does matter are the limits concerning the amount of your cash regulators protect and in case something happens to or with one of your broker.
    Then at least you have a backup. I heard many stories where brokers had problems when customers wanted to draw cash.

    As I said before, this will not apply for your little 10k account. You CAN do it with that too, but it really gets its function when you have 30-50k and over.

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