Resolved Question
Can you buy from one broker and sell to another?
about 1 year ago
Best Answer - Chosen by Voters
If you have accounts under both brokers, sure you can. Just know that the two orders WILL NOT cancel out each other. If you want to close a position, you will have to place an opposing order under the same broker. Brokers do not interact with each other to take into account your total positions. They only know the orders that you have placed on their respective platforms.
about 1 year ago
Answers (2)
Of course you can. But if you are looking to hedge or offset your losses on one account, then you'll probably end up losing a little more because of the spread.
about 1 year ago
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This questions seems like an fundamental flaw in your way of thinking about forex and how our markets work. When you buy EUR/USD you are not buying an instrument like you would if your were buying a stock such as Microsoft (MSFT). Instead you are basically saying that you think that the Euro value will rise in comparison to the USD, so you are selling dollars and buying Euros.
So the straightforward answer to the question you presented is NO, you cannot buy EURUSD from one broker and sell it to another broker.
If your question was, can I buy EURUSD with one broker, then place a Short trade with another broker. Yes, this can be done.
about 1 year ago
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