Broker with no profit/withdrawal limits | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Broker won't complete withdrawal request 20 replies

Max. Leverage Amounts and Withdrawal Limits? 3 replies

Tightest Spread Broker with Neteller funding/withdrawal 10 replies

ECN broker that allows withdrawal not only into bank acc? 25 replies

I am looking for EA to put Buy Stops, Buy limits, Sell limits, and Sell Stops. I will 0 replies

Broker with no profit/withdrawal limits

  • #1
  • First Post: May 16, 2011 5:34am May 16, 2011 5:34am
Hi Y'all.

I am planning ahead for my $1,000,000 mark therefore I would like to know which broker in the market would not decide to close down my account because I am making too much money!

I have heard that they exist and thought it better to avoid opening an account with such.

Your inputs would be much appreciated.

Cheers.
Less is more...
  • #2
  • Edited 7:27am May 16, 2011 7:05am | Edited 7:27am
Quoting ajantala
Hi Y'all.

I am planning ahead for my $1,000,000 mark therefore I would like to know which broker in the market would not decide to close down my account because I am making too much money!

I have heard that they exist and thought it better to avoid opening an account with such.

Your inputs would be much appreciated.

Cheers.
I don't think that it is good idea to trust all your money to one broker. 3-4 brokers would be much better. Even the biggest and trustful broker can disappear some day.
  • #3
  • May 16, 2011 11:42am May 16, 2011 11:42am
You can give alpari a trial ,they have long market presence and they have a huge capitalization or DBFX
  • #4
  • May 16, 2011 2:14pm May 16, 2011 2:14pm
Try Ducascopy..... there is a lot of members who have millions of dollars in their accounts ...
  • #5
  • May 20, 2011 1:59pm May 20, 2011 1:59pm
Thanks a lot guys but I think I will stick with my present broker for now till I can take my account up to $100,000 afterwards I will start to diversify with brokers.

I haven't had a problem with them since I started trading live and although i keep hearing mixed reviews about them i believe most of the bad ones are due to rookie mistakes.
Less is more...
  • #6
  • May 23, 2011 2:41am May 23, 2011 2:41am
Quoting ajantala
Thanks a lot guys but I think I will stick with my present broker for now till I can take my account up to $100,000 afterwards I will start to diversify with brokers.

I haven't had a problem with them since I started trading live and although i keep hearing mixed reviews about them i believe most of the bad ones are due to rookie mistakes.
Good luck! Let us know when you will make $ 100K~!!!
  • #7
  • May 23, 2011 11:37am May 23, 2011 11:37am
Quoting ajantala
I am planning ahead for my $1,000,000 mark therefore I would like to know which broker in the market would not decide to close down my account because I am making too much money!
Why settling for broker? With 500.000$ in your pocket you could open an account with Deutsche Bank, Barclays Capital, HSBC, Credit Suisse or some other major liquidity provider. Half a million means nothing to them, just don't expect to offer you 500:1 leverage
  • #8
  • May 27, 2011 6:01am May 27, 2011 6:01am
Thanks josef, I'll try to. Presently on the verge of turning a 3-figure account into a 4-figure!

PS: That could actually mean a $999 into a $1000...LOL
Less is more...
  • #9
  • Edited 8:09pm May 27, 2011 7:31pm | Edited 8:09pm
Not to burst your bubble but I doubt you'll be turning a 3 figure account into a million dollars anytime soon, so this is a premature question. It's easy to grab a calculator or open a spreadsheet and compound a 3 figure number until you have a million, but actually doing that in reality is an entirely different story. Good luck anyhow!

Having said that, ignore any recommendations of Alpari, Dukascopy, and all of those 3rd tier retail brökers (ECN or not). With a number as big as half a million you should go for an account with a 2nd tier bröker, or even better a 1st tier brokerage firm. Take a look at this post for some more details:

Quoting Trader KGB
Depending on how large of an account, any top tier prime bröker would do the job. This would give you access to all of the institutional ECNs (EBS, FXall/Accelor, Baxter-FX, Hotspot FXi, tier 1 Currenex, etc), as well as in-house aggregators. Another large trader here spoke highly of DB Autobahn. If you don't have the balance for top tier (JPM, GS, DB, MS, etc), then you can look into second tier (FC Stone, MF Global, etc). I would start by looking at the top (EBS via a top tier prime) and work down the chain from there.
Most people here know nothing about those because they're not big traders, all they know is retail brökers and so that's what they'll recommend for you even if you say you have 500k as capital.
  • #10
  • Edited 1:18am May 28, 2011 12:48am | Edited 1:18am
Quoting Marv
Not to burst your bubble but I doubt you'll be turning a 3 figure account into a million dollars anytime soon, so this is a premature question. It's easy to grab a calculator or open a spreadsheet and compound a 3 figure number until you have a million, but actually doing that in reality is an entirely different story. Good luck anyhow!

Having said that, ignore any recommendations of Alpari, Dukascopy, and all of those 3rd tier retail brökers (ECN or not). With a number as big as half a million you should go for an account with a 2nd tier bröker,...

Thanks a lot for your input Marv. I know it sounds premature but I am just planning ahead having successfully taking a demo account from $5000 to almost £25,000 within the space of 5 months. BTW the time frame I have calculated to make the mark is about 3+ years.

Really I was saying to myself that I'd save till i could get $5,000 to trade with and make it live as well but after second thoughts i decided to re-open my live account with just $600 at the beginning of this month. At least if I can turn that to $5,000 before the year ends then I'd start afresh next year for the $1,000,000 dream.

It has really been a good month (without any losses so far) with the balance now @ $921.25. Meanwhile I am not bent on sharing the system until I can prove it's worth over the space of 1-2 year(s).

With regards to the 2nd tier brokers you mentioned do they also offer high-leverages like 1:200? If they do then I'll be all out for them sooner or later.
Less is more...
  • #11
  • May 28, 2011 8:40am May 28, 2011 8:40am
Quoting ajantala
With regards to the 2nd tier brokers you mentioned do they also offer high-leverages like 1:200?
I'm afraid they don't. When you have big enough capital to move up to tier 2 brökers, expect no more than 1:100 if it's a European bröker and 1:50 if it's an US bröker.
  • #12
  • May 28, 2011 11:04am May 28, 2011 11:04am
Quoting josef
I don't think that it is good idea to trust all your money to one broker. 3-4 brokers would be much better. Even the biggest and trustful broker can disappear some day.
h registered 10 live accounts with 10 brokers.

may i show my experience soon

FXCM-US
FXCM-UK
FXSOL-US
FXSOL-UK
ALPARI-UK
FOREX.COM
FXDD MALTA
BOSTON MERCHANT
FOREXYARD
BFOREX!! !!!
  • #13
  • May 28, 2011 3:07pm May 28, 2011 3:07pm
Besides, i think you should think about your trading strategy, cos different brokers has different limits or restrictions for different trading strategy.
  • #14
  • May 29, 2011 11:24am May 29, 2011 11:24am
Quoting ajantala
Thanks a lot for your input Marv. I know it sounds premature but I am just planning ahead having successfully taking a demo account from $5000 to almost £25,000 within the space of 5 months. BTW the time frame I have calculated to make the mark is about 3+ years.
Work out your Calmar ratio and adverse excursion ratio . It they are not good then it is probable that your gains were random luck.

http://www.investopedia.com/terms/c/calmarratio.asp
  • #15
  • May 29, 2011 11:59am May 29, 2011 11:59am
Quoting StephanusR
Work out your Calmar ratio and adverse excursion ratio . It they are not good then it is probable that your gains were random luck.

http://www.investopedia.com/terms/c/calmarratio.asp
Don't think so mate, I made sure I paper traded according to the rules of the system and tried it over available data for the past 5 years and the least profit it turned up with was +400% in 2006, so far this year like I previously mentioned it has already made close to 400% profit. It's a pretty simple system so the possibility of getting the testing wrong is very low.

PS: The 2008 paper-trade test was out of this world 'cos that was when the recession officially hit and the market moved crazily, the profit was a whooping 6000%!!!
Less is more...
  • #16
  • May 30, 2011 8:31am May 30, 2011 8:31am
If you like you can add in your broker research AAAFX.
Leverage 200:1
400% profit? keep on profitable trading!
  • #17
  • Jun 2, 2011 3:29am Jun 2, 2011 3:29am
Yep, it's official. No losing trades for the month of May! But guess what? First trade for the month of June was a loss.
Not bothered though as long as it's an overall profit for the month...and i achieve my 4-figure target as well.
Less is more...
  • #18
  • Jun 2, 2011 1:24pm Jun 2, 2011 1:24pm
how about mig bank...

they look reliable. Can tell just by looking at how they advertise on CNN....lol
  • #19
  • Jun 28, 2011 7:02am Jun 28, 2011 7:02am
I don' t have an account with MIG but as far as I know they have fixed spreads. AAAFX is the broker who most of zulutraders like me open an account with.
  • #20
  • Jun 28, 2011 8:31pm Jun 28, 2011 8:31pm
Quoting Marv
Not to burst your bubble but I doubt you'll be turning a 3 figure account into a million dollars anytime soon, so this is a premature question. It's easy to grab a calculator or open a spreadsheet and compound a 3 figure number until you have a million, but actually doing that in reality is an entirely different story. Good luck anyhow!

Having said that, ignore any recommendations of Alpari, Dukascopy, and all of those 3rd tier retail brökers (ECN or not). With a number as big as half a million you should go for an account with a 2nd tier bröker,...
hi Marv,u seem to be v.versed in brokers in tier 1 & 2? r u by any chance using them for your own trading or r u working for them? I definately would like to know more them too in your own words,experiences,etc.care to share? what do u think of MBT? i asked this bcos Dukascopy is e nearest ECN-concept based as MBT? thanks!
0 traders viewing now