Blocking a trader's account.

One of the most critical problems you can encounter when trading forex is having your trader's account blocked. This is a fairly common occurrence, and you can become a victim simply through ignorance.

As a result, not only are your funds blocked, but you won't even be able to access your account, leaving you to pester support with questions about the cause.

To avoid this, you need to know the reasons why a forex account can be blocked.

• Using software that disrupts the broker's operations - these are usually advisors that not only trade, but also interfere with the trader's terminal.

• Opening multiple accounts - immediately raises suspicion and leads to account blocking, and it is extremely difficult to prove your case after that.

• Suspicion of fraud - there are several ways to deceive a broker, I will not list them here, but it is clear that if you decide to somehow violate the trading rules, the account will be blocked.

• Using scalping - especially if you work according to the most aggressive scheme (high leverage and a lot of transactions), scalping brokers , but not all of them. True, in this case, the company will most likely return part of the funds, but you will have to forget about the profit.

• Inaccurate data when opening an account - if it turns out that you are trying to trade under a fictitious name, then you can simply say goodbye to everything you deposited into the account.

• Large profits - if you trade consistently, earning 20-30 percent per month, no one will be suspicious, but after you earn 1000% per day, be prepared for your account to be temporarily blocked for verification.

I don't know what they check, but if everything is in order, no one takes your money; I've been subjected to a similar procedure twice myself.

Furthermore, you could run into a scammer who won't give you your profits, so you can only shrug your shoulders and avoid making the same mistake in the future.