Transfer money between brokers by trading?

Discussion in 'Forex' started by Kardi, Feb 5, 2019.

  1. Masil

    Masil

    Exactly the question I wanted to ask, is it that the brokers are in collaboration or what? I think maybe you should sort this out with your broker or something.
     
    #21     Feb 6, 2019
  2. Vuu

    Vuu

    I think he should speak with the broker, it's an issue for them to resolve. There must be something wrong somewhere.
     
    #22     Feb 7, 2019
  3. Masil

    Masil

    I think I agree, it's an issue for the broker. Am sure they can work it out there, since they might know what went wrong or what's happening.
     
    #23     Feb 9, 2019
  4. Vuu

    Vuu

    Honestly, we can't really decide for individuals here. The best we can do is advise and the final decision rest with us. We should just make sure we do what's best for us.
     
    #24     Feb 12, 2019
  5. Masil

    Masil

    True we can't decide for no one, but we can surely advise the folks here, especially newbies. Sometimes we really do not appreciate something until we face a problem relating to that thing.
    Same goes for demo.
     
    #25     Feb 14, 2019
  6. Vuu

    Vuu

    Masil, what really discourage the few that don't trade with demo is the fact that there are some differences between demo and real account.
     
    #26     Feb 15, 2019
  7. Sig

    Sig

    If you're offshore and working with bucket shops anyway, then sure, you can transfer funds by trading against yourself at another account. Just find a very illiquid product with a massive bid/ask spread. Your gaining account offers the product a penny inside the current ask, making it the NBBO. Your "losing" account then immediately buys from your "gaining" account at the ask. The losing account then immediately turns around and offers a penny inside the bid, and sells it back to the "gaining" account at a loss. Rinse and repeat until you've moved all your money over. Pretty sure there are one or two rules that prohibit this, but like I said, if you're dealing with bucket shops making up their own rules anyway then why not do some illegal shit yourself!
     
    #27     Feb 15, 2019
  8. Masil

    Masil

    I would want to ask; how practical and realistic is this, have you tried it?
     
    #28     Feb 16, 2019
  9. Sig

    Sig

    Of course I haven't tried it, as I mentioned it against the law and I have no reason to put myself in legal jeopardy in order to test it out because I deal with reputable U.S. based brokers!
     
    #29     Feb 16, 2019
  10. pipeguy

    pipeguy

    Well if they offer juicy swaps you can open short-long position on some high yielding pair in two brokers, so the trade is hedge but you earn swaps. High leverage and wide stops should do the trick
     
    #30     Feb 18, 2019