Will Brokers Ban You For Doing This Practice
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Thread: Will Brokers Ban You For Doing This Practice

  1. #1
    Following the EarthQuake in NZ. I was scalping EURNZD. My brokers spread with EN was about 5 pips. So instead I just traded the EUR/USD and NZD/USD counterparts. My spread doing this has been around 2.

    Do brokers let this practice? Or will they ban you?

    Because I can always doing this on two separate brokers. That way they won't ever ch on.

  2. #2
    IMO you can trade some currencies pairs you need using any trading egy you would like. Otherwise, I should concur with forexia, look for broker.

  3. #3
    Quote Originally Posted by ;
    After the EarthQuake in NZ. I had been scalping EURNZD. My brokers spread with EN was approximately 5 pips. So instead I simply traded the EUR/USD and NZD/USD counterparts. My spread doing this has been around 2.

    Do brokers allow this practice? Or will they ban you?

    Because I can always doing this on two separate brokers. That way they will never ch on.
    They need ton't because you are investing two seperate currency pairs otherwise everyone would be banned for trading more than one currency pairs simultaneously because nowadays there's pretty much a cross for every single two pairs of currencies outside there.

    If they ban you, change the broker. It's them who want your business rather than the other way round. Loads of good brokers out there.

    Good luck!

  4. #4
    No what I mean is

    rather than buying EUR/NZD and paying a 5 pip spread

    I buy EURUSD and sell NZDUSD the ordinary spread is about 2 for the two of them.

    When I buy EUR/NZD I buy the Eur and Sell Nzd.

    So buying EURUSD I buy the Eur and Sell the Usd. While I sell NZD/USD, I sell NZD and Buy the USD, therefore the Usd counterpart cancels and I'm pretty much trading EUR/NZD without the massive spread.

  5. #5
    Quote Originally Posted by ;
    No what I mean is

    rather than buying EUR/NZD and paying a 5 pip spread

    I buy EURUSD and market NZDUSD the ordinary spread is about two for the two of these.

    Once I buy EUR/NZD I buy the Eur and Sell Nzd.

    So buying EURUSD I buy the Eur and Sell the Usd. While I market NZD/USD, I market NZD and Buy the USD, therefore the Usd counterpart cancels and I'm pretty much trading EUR/NZD without the massive spread.
    Yes we understood you the first time and we told you your broker should not care if you do this since you're trading two distinct pairs, EUR/USD and NZD/USD and it's perfectly normal for any traders to buy and market different pairs even if they're not seeking to trade the cross they signify. Should they ban they wouldn't have any customers left.

    If you're truly afraid it will cause your broker to prohibit you for this, don't do it.

  6. #6
    Quote Originally Posted by ;
    No what I mean is

    Instead of buying EUR/NZD and paying for a 5 pip spread

    I buy EURUSD and sell NZDUSD the average spread is about 2 for the two of them.

    Once I buy EUR/NZD I buy the Eur and Sell Nzd.

    So buying EURUSD I buy the Eur and Sell the Usd. When I sell NZD/USD, I sell NZD and Buy the USD, therefore the Usd counterpart stinks and I am pretty much trading EUR/NZD without the large spread.
    Hello,

    Do not think that the average spread is 1. You are spending spread for the two pairs so that you should not thing average but complete spread that can get you back to 5 pips spread!

    When you buy eurusd that you pay for the spread then back on NZDUSD in order to immediatly liquidate the place you will loose pips on EURUSD SPREAD same on NZDUSD SPREAD. Calculating the average isn't right.

    Good fortune
    13

  7. #7
    Quote Originally Posted by ;
    No what I mean is

    rather than buying EUR/NZD and paying for a 5 pip spread

    I buy EURUSD and market NZDUSD the ordinary spread is about two for both of them.

    Once I buy EUR/NZD I buy the Eur and Sell Nzd.

    So buying EURUSD I buy the Eur and Sell the Usd. While I market NZD/USD, I market NZD and Buy the USD, therefore the Usd counterpart stinks and I'm pretty much trading EUR/NZD without the massive spread.
    Will they ban you?
    No they will love you. .
    The cross rate EUR/NZD spread shud be always smaller compared to the EUR/USD and NZD/USD that are the legs into the cross.

  8. #8
    Quote Originally Posted by ;
    After the EarthQuake in NZ. I scalped EURNZD. However my brokers spread with EN was approximately 5 pips. So instead I simply traded the EUR/USD and NZD/USD counterparts. My joint spread has been around 2.

    Do brokers allow this clinic? Or will they ban you?

    Since I can constantly doing so on two separate brokers. That way they will never ch on.
    I Don't see illegal activities in it))

  9. #9
    Quote Originally Posted by ;
    Following the EarthQuake in NZ. I had been scalping EURNZD. Nevertheless my brokers spread with EN was about 5 pips. So instead I just traded the EUR/USD and NZD/USD counterparts. My joint spread doing this was around two.

    Do brokers allow this clinic? Or will they ban you?

    Because I can continually doing so on two separate brokers. That way they won't ever ch on.
    What's your broker?

    Just curious...

  10. #10
    Quote Originally Posted by ;
    what's your broker?
    Yes, that would be rather interesting to know...

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