Why would people need multiple accounts with one broker? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Counting Multiple Orders With Multiple Magic Numbers in one EA 6 replies

Open Multiple Orders On Multiple Pairs On One Chosen Cross 1 reply

Broker for multiple MT4 micro demo accounts? 6 replies

multiple accounts - use one or multiple platforms? 2 replies

Best broker for trading multiple accounts? 6 replies

Why would people need multiple accounts with one broker?

  • #1
  • First Post: May 15, 2011 12:38am May 15, 2011 12:38am
Hi,

I can't think of reasons that broker allows a person to have multiple accounts under same name. Why do people need more than one account with same broker? maybe different strategy for different account? manage other people's money with his name? Thanks.
  • #2
  • May 15, 2011 6:51am May 15, 2011 6:51am
Quoting rootkit
Hi,

I can't think of reasons that broker allows a person to have multiple accounts under same name. Why do people need more than one account with same broker? maybe different strategy for different account? manage other people's money with his name? Thanks.
You can use 2 accounts with the same broker as a work around on FIFO or or hedge restrictions.

Some people like to keep things organised like transferring their profits at the end of the week to another account where they trade more conservatively.

Other people like to trade different strategies on each account and in this this case 2 or more accounts comes quite handy.

Thats what I have off the top of my head, the list can go on and on.
  • #3
  • May 15, 2011 9:02am May 15, 2011 9:02am
Some EA's dont play well with others and need separate accounts. A trader might want to separate manual trades from EA trades to make trading easier. Might want to have hi-risk, low-risk accounts, etc... All kinds of diff reasons.
  • #4
  • May 15, 2011 11:17am May 15, 2011 11:17am
separate account base currency, ex. USD and EUR accounts
  • #5
  • May 23, 2011 2:50am May 23, 2011 2:50am
wow, everyone beat me to it, all with perfectly valid reasons. I'll add one more: some brokers have different accounts for different limitations of the account itself. Like Standard and Mini accounts, different provisionings for API access, etc.
Measure trends automatically with zero lag
  • #6
  • May 23, 2011 3:38am May 23, 2011 3:38am
Quoting rootkit
Hi,

I can't think of reasons that broker allows a person to have multiple accounts under same name. Why do people need more than one account with same broker? maybe different strategy for different account? manage other people's money with his name? Thanks.
So they can upload only their winning accounts to myfxbook.com or tell us only about their winning accounts as done by Worldcup trading contest, the one Larry Williams won. Robbins world cup must provide the weighted average of all the winning and losing accounts held by Andrei Unger, who ''wins'' every year on those selective accounts out of 100 they choose to show. In the real world his weighted average would be a nett loss. Trading contests must simulate the real world, Robbins is only simulating the winning accounts held by a trader and not his losing accounts.

See

http://groups.google.com/group/futur...6fd168d65b977#
  • #7
  • May 23, 2011 3:56am May 23, 2011 3:56am
Quoting rootkit
Hi,

I can't think of reasons that broker allows a person to have multiple accounts under same name. Why do people need more than one account with same broker? maybe different strategy for different account? manage other people's money with his name? Thanks.
Well different strategies in different accounts, easier to keep tabs on which one is doing which. this means you could be long and short the same pair, which is efectively hedging. you could be long eur/usd in a long term trade but short in a short term trade or scalp.

I trade a small (very small) account for a close freind which is in a sub account.
  • #8
  • May 23, 2011 7:09am May 23, 2011 7:09am
Quoting rootkit
Hi,

I can't think of reasons that broker allows a person to have multiple accounts under same name. Why do people need more than one account with same broker? maybe different strategy for different account? manage other people's money with his name? Thanks.

1. Having many accounts may be a hard failsafe stop. If you enter & before placing stop you get a fast market move.

2. When some use hedging & spread widen account can be blown out too.

So mostly I would like to set it a hard fail safe. If you have a rule never put in risk more than 10% of your capital you can simply put about 15% capital ( risk + margin ) SO YOU would never be tempted to risk more. Once damaged use another 15% account. OF course accounts need to be reset often to cover loss/ gains in a main fat account.

Also use of EA or different strategies like scalping VS swing trades.

13
Brokers are angels
  • #9
  • Jan 6, 2021 11:16am Jan 6, 2021 11:16am
Quoting StephanusR
{quote} So they can upload only their winning accounts to myfxbook.com or tell us only about their winning accounts as done by Worldcup trading contest, the one Larry Williams won. Robbins world cup must provide the weighted average of all the winning and losing accounts held by Andrei Unger, who ''wins'' every year on those selective accounts out of 100 they choose to show. In the real world his weighted average would be a nett loss. Trading contests must simulate the real world, Robbins is only simulating the winning accounts held by a trader...
wow i just knew about this,, but still.. where does 1.5M comes from lol..

this just shows how important is diversification..
Steps to profitability: Collect data, money management, stay bored
  • #10
  • Jun 21, 2022 6:04am Jun 21, 2022 6:04am
I can't think of any good reasons why a broker would enable someone to have numerous accounts in their name. What's the use of having multiple accounts with the same broker? a perhaps different method for several accounts? with his name, manage other people's money? Thanks.
  • #11
  • Last Post: Jul 7, 2022 1:01am Jul 7, 2022 1:01am
You can create a trading account with 1:500 leverage, on which you will test your strategy.
And your main account will have a leverage of 1:200 and the necessary account conditions for your trading.
0 traders viewing now