Okay, be honest and tell me if this actually happens. Has anyone ever heard of a broker banning you like a casino when you started winning too much, either regulated or unregulated? I've seen one guy on Reddit that said Oanda froze him and he had to go the legal route to get his 60k from them. Share your stories!
Banned by a Broker?
- Thread starter steveburns0267
- Start date
What would be considered toxic?
Keep in mind that a lot of these stories that you hear from forex or cfd traders blaming everything on their broker are often traders who aren't profitable and are using every excuse to blame everyone and everything except themselves.
What kind of evidence has this guy provided? Do you have the link to this Reddit post?
Lol. No evidence and it wasn't even a post, more like a comment. All I thought was if a regulated broker would do that, I might as well use an unregulated broker like Osprey so I can trade US30 as a US citizen.
There are many kinds, each broker decides for itself what it tolerates and what it doesn't. Here's an example
https://www.stern.nyu.edu/sites/default/files/assets/documents/con_035928.pdf
Why wouldn't you trade futures instead?
I am not saying it is impossible that a broker like Oanda blocks someone's account, but if it is true and since there is no evidence that's a big if, they probably had a good reason. Oanda is well regulated and wouldn't get away with stealing someone's funds.
Without knowing what the broker told the guy it is really impossible to know what really happened.
Don't you need at least 12k to start with futures?
Come on. The guy saw a Reddit comment about some guy's girlfriend's friend's father who knew a neighbor next door who's paperboy was "banned" by a broker and couldn't get his 60 grand, and you think he's going to understand what you're talking about?