Sound so crazy to deposit 20k$

[Leopardos]

Hello,

I have 20,000$ to start trading with ...
But they'r in my bank right now, which FX isnt available there...
so my question is ...
am i so DUMP to get those money from my bank account and put them into a broker company ? like OandA which i got a live account with , or IBFX?

Realy, just crazy people does that ....

How could i realy trust "a broker"...? what if the people who did recommend it are from the same company or somehow a lie?

i mean , if i have a company with 100,000 People ... each one with 20k$ thats mean 2000000000$ , i would claim that the company did break ...

How you guys feel with your LOT of money 10k+ placed into some place that could steal your money ... ?

Thanks

[DaveyBoy]

How about people who had accounts with Barings Bank. One of the oldest banks in the world and they went bust.

The difference with established banks / brokers and scam bank / brokers lies in the INTENT. Established companies can go bust as well, but their INTENT is not to scam but to provide services people will pay for.

Scam anythings start out with an INTENT to defraud.

Personally I'm quite confident in my choice of broker. Could they potentially fold? Anything is possible, but their INTENT is to provide their services (for which they make a fair chunk of change).

[forextips]

I agree with Daveyboy, as long as you do you research and the brokers are reputible. I don't see why there should be a problem with you making a deposit with them

Just a quick follow up to find out what you decided to do. Did you find a reputable broker to deposit your money with

[domkscott]

DaveyBoy and forextips have valid points, but you still have to be careful!
There are too many stories of people doing well, depositing large amounts for the first time and losing it all.
What happens is that traders gain confidence while trading small, so they decide to go big and then they get stung!
The sting can be as complicated as hacking and taking over your account or as simple as a SL hunt, either way these things have a tendency to happen when you do finally decide to invest big and/or simply go live.
Right now the only thing you can really do is develop a solid and strong trading strategy, do proper research and make sure your broker allows withdrawls at any given time.

[LivinFX]

Originally Posted by domkscott

DaveyBoy and forextips have valid points, but you still have to be careful!
There are too many stories of people doing well, depositing large amounts for the first time and losing it all.
What happens is that traders gain confidence while trading small, so they decide to go big and then they get stung!
The sting can be as complicated as hacking and taking over your account or as simple as a SL hunt, either way these things have a tendency to happen when you do finally decide to invest big and/or simply go live.
Right now the only thing you can really do is develop a solid and strong trading strategy, do proper research and make sure your broker allows withdrawls at any given time.

Agreed, it's very dangerous to trade with such large accounts. It's not so much about the broker
itself, but more about YOU losing it yourself!

In any way ... there are certainly brokers which are very professional and providing this service for you.
As example, I've had very good experiences with Dukascopy ...

Just be aware that the registration process is not an easy "1-2-3 register and next day your account is ready"
process as with the broader retail brokers like Forex.com, FXPRO etc.

[JamesW]

Are you just starting out as a forex trader? If so, then I wouldn't recommend putting anywhere near that amount into a forex account. Pretty much everyone blows their account when they first start trading, so I would suggest starting off with small stakes, and don't even think about trading real money until you have a solid trading system in place.

[ecn-broker]

You can put your money to swiss banks... MIG, Dukascopy, Saxo, ACM (now Swissquote!)

My favorite is dukascopy, and im happy

[Tradefox]

Hi, you sound like you are just starting out in forex, may i recommended you educate yourself first. That is the only way you can feel comfortable investing your money.

Then you would know the things to look out for while selecting a broker.

This in investor parlance is called due diligence.

I wish you all the best

[marshal]

you should remember here that it is an obvious thing to have the very good broker with which you feel confident. Though I think it is still very risky. Why have you decided to trade with such a great amount of money? And do not forget about the broker. It play the very huge role here.

[ECMartin]

What is a fortune to one can be peanuts to another. Basically, if you don't feel comfortable sending this or that amount of money to a broker, you should deposit less :-)