As a long-time trader, I do understand that the forex...
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T Ty Cowles
Jun 3 2022
As a long-time trader, I do understand that the forex market has unavoidable risks. There is no exact way to 100% avoid the risk, however, we can mitigate the risk by utilizing some tools. While we as traders can apply risk management, broker tools might help to reduce the risk. I wonder what kind of risk management tools IC Market has? Perhaps they would have negative balance protections or stop-loss order?
I IC Markets
Official Response
Jun 16 2022
Ty Cowles: IC Markets (EU) Ltd provides its retail clients with Negative Balance Protection. As you are trading leveraged CFD products, while you can invest more than the balance you have in the account, the losses are magnified too. If you trade on leverage, then the face value of your trading position is more than the amount you have in your trading account. Therefore, if the market moves against your trade significantly, it could make theoretically your account balance negative. With Negative Balance Protection your account will never be below your available balance. You cannot lose more than your available balance.