Where to put my Profits?

Hi,

Recently I have been quite lucky trading the markets, and I am faced with a different kind of problem as my fx accounts are starting to grow. I am hoping my fellow traders here in forexfactory can help me out in making a decision.

So here is my current situation, I currently have 3 accounts each on a different broker, FXPro, MBTrading, and Finfx.fi.

Now my biggest gains and biggest account is at FXPro due to their high leverage of 500:1 and no hedging rule I am able to trade the way I want with as many trading systems as I like. But my main problem with them is that I am not so sure if my funds are entirely secure with them since they are a market maker located in Cyprus.

MBTrading has also been very good to me but the no hedging rule and the 50:1 leverage limits the number of strategies I am able to trade, so I get forced to trade smaller lots and a maximum of 1 strategy per currency pair. So I am seeing 50% less gains in this broker compared to what I am seeing in FXPro. But the Pros are they are an ECN broker and well regulated, so I believe my funds are quite secure here.

And Lastly FinFX.fi, is also an ECN broker and they give me the same freedom in terms of trading as FXPro.com since they allow hedging and offer a good leverage of 100:1 and good execution because of their well know liquidity provider. Gains are also bigger here compared to MBTrading. But the Cons are they are a very new company and from my knowledge they are not regulated.

So can anyone please help me decide where to put my money, or should I just leave my accounts alone since all of them are profitable anyways?

Thanks in advanced for the help.

Mikhail

Depends on how much you have in circulation. For any 6-digit sum, it would be ok but anything larger I'd go with Dukascopy.

I think for fxpro due to their high leverage, if you do not trade full margin you can put for example 50% or less of your money in your account and trade with that and if you need more money you can deposit your account immediately with credit card or paypal account. it doesn't need to put all your money in your trading account if your worry about your funds.

Thanks for the help, I just withdrew half of my money in FXPro and will be opening a dukascopy account. With Dukascopy I think it will take a week or so to open a dukas account so I will continue to trade with fxpro until all the paperwork are processed with dukas then I will close FXPro completely. Thanks again for the help.

Hello mikhail,

Don't you want to try interactive broker or LMAX? I think they're quite interesting

Just withdraw 50%of your profit, put it in safe place and continue you lucky!

I think the OP is asking a different question guys. He seems to be asking: Where should I park my money? Not, can you name another FX Retail Shop.

a) One can create a delta neutral options position on Silver, Gold, Platinum, Palladium, etc., in the amount that you wish to remove from the FX market. [less capital risk]

b) One can use the knowledge that certain commodity metals will be in higher future demand as a result of expected industrial growth in places like China and India, and then create non-directional options spread position across a time-frame and in an amount necessary to meet the needs of moving capital away from the FX market. [less timing risk]

c) One could use the same fundamentals of "b" (above) to lock-in a narrow risk/reward naked hedge (cash) long (or, short) position in the same industrial commodity metals, with a clearly (narrowly) defined win/loss percent. [more capital risk in nature - no timing risk]

d) One could buy U.S. Treasure Bonds for the duration. [less capital risk - more timing risk]

e) One could buy traditional CDs within a qualified plan and receive tax deferred and/or tax free (depending on which entity you use and how you do it) appreciation (albeit, small) in the amount equivalent to that which you need to remove from the FX market. [less capital risk - more timing risk]

f) One could simply open up the necessary number of Swiss bank accounts and start dumping cash into a variety of low interest earning account types. [less capital risk - no timing risk]

Whatever you do, stay away from Real Estate, unless you have the time and the energy to do it properly - or unless you feel comfortable with a professional property management firm to handle all the nightmare details for you.

Or, finally start that Non-Profit Organization that you've always wanted to launch and fund it yourself. Money is meant to be used for good purposes. Once all of your personal needs are met, why not use a good deeds NPO as the dumping grounds for the rest. The world will be a better place long after you are gone for the NPO having existed, and you will be remembered as its Founder.

Or, heck - its your money - do what you want. But, I would counsel you to help other people with real unmet needs. Orphaned children. Foster care children. Abandoned children. Children with challenging illnesses. Disadvantaged children who can't pay for college. Battered Women's Shelter & Rescue. The fight against Homelessness. The fight against Hunger and Starvation. The fight against Illiteracy. Open a new Library in a disadvantaged part of town. Start a new Youth Program for At Risk Kids. Build a new Children's Hospital & Research Facility. Start a new foundation dedicated to Cancer Research. Etc.

There is a lot of work to be done out there. A billion dollars is very easily spent these days. Be wise and humane, whatever you do.

We are Traders. We have hearts, too. We are not all Gekko's. Don't get all Gekko on me.

FinFx is my leader among these brokers.

Mikhail,

If you have various strategies that work with varying brokers / leverage, then you should keep doing what you've been doing. I would suggest however to create a strategy in how to handle withdrawals for each type of acct in which you can begin with a minimum and not be worried about the amt if for whatever reason those brokers disappear. For example, up to certain amount, I begin to withdraw from broker A, B, and C. Also, consider using an FX broker which has FDIC type protection - Citi, dbFX, Dukas (I believe banks/fx) etc. if you want a larger balance. I would do this for higher capital and lower/medium level leverage of 50:1 or even less. Good Luck.