How to switch to another broker without closing positions?

Whatever one may say, one of the decisive factors influencing trading efficiency is the brokerage company through which it is conducted.

If you're unlucky and choose the wrong broker, or if the quality of services provided has simply deteriorated over time, you'll have to switch to another broker.

But what should you do with open trades? After all, some positions are maintained for months, and it would be a shame to close an order before the price has yet reached the settlement level.

For this purpose, transferring positions between different brokerages while maintaining the volume and direction of open trades was devised.

This procedure helps avoid losses from prematurely closing orders when switching to a company with more favorable trading conditions.

Surprisingly, the process itself is quite simple and doesn't take much time at all. To complete it, you need to do the following:

Select a broker – with better trading conditions and more stable operation of the trader's terminal and check whether it provides such a service.

Of those who definitely provide such an opportunity, I can recommend Amarkets company:

Register and open an account that suits your needs, complete the identity verification process, and confirm your personal information.

Top up your account —the amount must be sufficient to support the positions you intend to transfer.

Contact the account manager at the company where you opened your account, using your preferred method, and inform them of your decision to transfer your account and positions.

Some brokers request a report on open positions, known as a "statement." You can generate one in the MetaTrader under the "Account History" tab or request one from your previous broker.

Once the positions have been transferred, all you need to do is withdraw the funds remaining in your previous accounts.

This means you won't lose anything and will be able to close the transferred trades at the desired price.