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Why do some brokers offer extremely high leverage?
Forex brokers, especially market makers are typically aware that most newbies are inexperienced, and there's a high chance that they're going to misuse the leverage. Thus, they usually offer high leverage to attract new clients.
In other words, many market makers are using high leverage as a part of their marketing offers. They'd invite you to take a lot of risks, knowing that it's not a good move to do especially if you're starting.
Continue Reading at 5 Signs Your Broker Trades Against You
Why does a broker reject your withdrawal request?
Legitimate brokers may decline withdrawal requests if traders have an ongoing trading position, often called a floating position. Additionally, many brokers prohibit withdrawals with floating positions because removing funds can significantly reduce the free margin in your account, leaving you more vulnerable to a Margin Call (MC).
Continue Reading at Top 3 Forex Broker Rules Most Violated by Traders
Why day trader can't use any brokers out there?
Another important point about day trading is the right broker because not all brokers are ideal for day trading due to the high volume of trades involved. In this case, traders have to carefully those who have platforms built to cater to the needs of day traders, advanced charting tools, and make it possible to place and modify complex orders in quick time.
This is why brokers with high speed, low costs of executing trades, and reliability are more suited to the high volume trades that are constantly seen with day trading.
Continue Reading at Is IC Markets Good for Day Trading?
How to prove that the broker is problematic?
There are several ways you can determine whether a broker is problematic or not. After all, there are some conditions that may not be the broker's fault. Here are the ways you can do:
- Determine the problem first. Is it really the broker's fault, or are there other factors involved?
- Make sure you have followed the rules. If you did, but still encounter issues, then it might be the broker that is the cause.
- Ask the broker's customer support, with some proofs.
- Consult with other traders.
If it's proven that the broker is the root of the problem, take immediate action and look for another reliable broker.
Continue Reading at How to Deal with Problematic Brokers in 6 Easy Steps
