How to move to another broker without closing positions?
No matter what they say, one of the decisive factors influencing the efficiency of trading is the brokerage company through which this trading is carried out.
And if you are unlucky and choose the wrong broker, or the quality of the services provided has simply become worse over time, you have to go to another intermediary.
But what to do with open transactions?
After all, some positions are maintained for months and it would be a shame to close an order if the price has not yet reached the calculated level. For these purposes, a transfer of positions between different brokerage companies was invented while maintaining the volumes and directions of open transactions.
This procedure allows you to avoid losses from premature closure of orders when moving to a company with more camphor trading conditions.
Choose a broker – with better trading conditions and more stable operation of the trader’s terminal and clarify whether it provides such a service.
From those who definitely provide such an opportunity, I can recommend Amarkets company:
Complete registration and open an account that meets your requirements, go through the identity verification procedure, confirming your personal data.
Top up your account – the top up amount must be sufficient to maintain the positions you are going to transfer.
Contact the manager of the company where you opened an account in a way convenient for you and inform about the decision to transfer the account and positions.
Some brokers ask for a report on open positions called a “statement.” You can generate it in the metatrader on the “Account History” tab or request it from your former broker.
After the transfer of positions has occurred, you will only have to withdraw the money that remained in the previous accounts.
As a result, you do not lose anything and get the opportunity to close transferred transactions at the price you need.