hi there guys,
i was reading few days ago about an interesting topic on withdrawing money from your broker, a successful trader said that he keeps withdrawing money on daily basis and then funding back his account for safety purposes.
now my question is: why?
i made some researches on internet but did not find anything about it,
you know guys whats the meaning on doing so?
Withdrawing profits and keep funding back, i don't understand?
sorry but i explained bad my self probably, this trader was encouraging all traders to do so, he was recommending to do it but did not explain why? this is something i saw many times over and over on traders account but quite never understood why.
i think its something to avoid frozen accounts?
read here on the trader description:
Another thing to keep in mind, and what is also written in your screenshot.
If the broker goes bust you might have a problem if the broker is not covered by a Compensation Scheme. For example FCA regulated brokers are reqruired to protect their client funds under the FSCS up to 50k GBP. This means also that if a FCA broker goes bust and your deposit is over 50k, you can kiss the surplus goodbye. Do not put all your eggs in one basket. Spread the risk.