How to protect your Forex account of re-pricing proces
How to protect your Forex account of re-pricing proces
Re-pricing
happens in currency trading when a broker refuses to give you your
asking price for a certain currencies that you are trying to buy or
sell This commonly happens when the markets are moving fast the
broker's pool of liquidity has been depleted or when the broker has made
another underlying deal that will be affected by your price request
Forex account re-pricing is common with some brokers and can impact your
earning potential But there are easy steps that you can take to
protect your Forex account from the re-pricing process
Understand the Markets
Hiring a broker is great for trading currencies on the Forex market but you should never leave your buying and selling decisions solely to your broker Anyone who is interested on opening a Forex account should study the market and have a thorough understanding of how currency trading works It is important to stay on top of all the latest information that can affect your buying and selling decisions on the Forex market to protect your account and maximize your earning potential. You should never leave it solely to the fate of another person.
Choose Your Broker Wisely
Before hiring a broker always do your research first Learn about the broker and the brokerage firm that he or she works for Find out what other customers are saying about the company and broker to make sure that you are dealing with someone knowledgeable experienced and professional Your broker should have several years experience in the Forex market and the company should be a legitimate well established firm
Just Say No
As a trader you have the right to refuse his or her offer If a broker is trying to re-price your trading price you have the right to refuse their offer Be firm in your decision and the price you have requested Knowing the market value will help you catch re-pricing and you can call your broker on their tactics if you know they are trying to re-price your currency trade.
Find A New Broker
Signing with a broker does not mean you have to stay with them forever If you are not satisfied with how your broker is managing your account find another on You should never work with someone who does not have your best interests in mind when they are working with your account
It's your money your account. Before opening a Forex account it is important that you have a clear understanding of what the market is and how it works Your broker is a representative that you hire to help guide you and oversee your buying and selling of currency While a broker should have extensive and up-to-date knowledge of Forex trading and the global market they should not be your sole source of information It is important that you understand the market you are trading in so that you know what are the best buying and selling options for your account There are easy steps that you can take to protect your Forex account the re-pricing process
Understand the Markets
Hiring a broker is great for trading currencies on the Forex market but you should never leave your buying and selling decisions solely to your broker Anyone who is interested on opening a Forex account should study the market and have a thorough understanding of how currency trading works It is important to stay on top of all the latest information that can affect your buying and selling decisions on the Forex market to protect your account and maximize your earning potential. You should never leave it solely to the fate of another person.
Choose Your Broker Wisely
Before hiring a broker always do your research first Learn about the broker and the brokerage firm that he or she works for Find out what other customers are saying about the company and broker to make sure that you are dealing with someone knowledgeable experienced and professional Your broker should have several years experience in the Forex market and the company should be a legitimate well established firm
Just Say No
As a trader you have the right to refuse his or her offer If a broker is trying to re-price your trading price you have the right to refuse their offer Be firm in your decision and the price you have requested Knowing the market value will help you catch re-pricing and you can call your broker on their tactics if you know they are trying to re-price your currency trade.
Find A New Broker
Signing with a broker does not mean you have to stay with them forever If you are not satisfied with how your broker is managing your account find another on You should never work with someone who does not have your best interests in mind when they are working with your account
It's your money your account. Before opening a Forex account it is important that you have a clear understanding of what the market is and how it works Your broker is a representative that you hire to help guide you and oversee your buying and selling of currency While a broker should have extensive and up-to-date knowledge of Forex trading and the global market they should not be your sole source of information It is important that you understand the market you are trading in so that you know what are the best buying and selling options for your account There are easy steps that you can take to protect your Forex account the re-pricing process