Forex Broker Concerns? | All About Money Online

I’ve looked at what several websites and forums have said about and how they have rated several different ECN brokers, based on a variety of criteria. What concerns me most, however, is whether 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 (such as 100:1 or 200:1), but the actual maximum dollar amount. Someone told me most brokers set a limit of 50 standard lots (or $5 million) per trade. Is this correct? Are you really unable to purchase more than 50 standard lots in one trade? I was also told that very high volume trades would be passed along to the real market, even by ECNs, and that this would prevent the trade from being executed “instantly.” Hypothetically, if you were trading $1 million or more per trade, by how long could your trade be delayed? Would it be minutes, or could it be several hours or even longer? And by “withdrawal limits,” I mean are there usually limits in place as to how such (in dollar amounts) any client is able to withdrawal from his/her account to a bank account (or through a similar process of getting funds out), such as weekly or monthly? If so, if someone were to actually become a Forex “millionaire,” wouldn’t it take him/her several decades just to withdrawal the money from his/her account, little by little? I’ve heard of dealing desk brokers that have “closed” client accounts because they grew too large (were too successful). However, would there be any reason or incentive for a real ECN broker (a reputable one) to close one’s account because it became too large? And might it actually depend on how large the broker is? I’m looking at major and renowned ECN brokers such as MB Trading, Interbank FX, Interactive Brokers, Dukascopy, ACM, and ATG, among others.

Thank you in advance to anyone who can tackle this query!

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