- Report the broker to the authorities;
- If you have used a credit card, contact your bank to request the transactions to be blocked;
- Check that the Forex broker is regulated so that you can rely, if possible, on the country's supervisory body;
Can you cancel forex?
FOREX account activity must end before your firm can close the account. Some accounts might require a few days notice before closing, which will be described in the contract with your financial service company. Call or write the professional who manages your FOREX account and request an account termination form.
Can you get scammed by forex?
Forex trading scams are when criminals trick people into investing in fraudulent foreign currency schemes. They often promise once in a lifetime investment opportunities where traders can make high returns overnight. The scammers often disappear after they've received payment, leaving investors with nothing.21 Jul 2021
How long can a forex trade stay open?
As a general rule, there is no limit to how long you can keep a trade open. Some brokers might put limits, but any reputable Forex brokers won't. As long as there is a market, theoretically, you could keep your trade open forever.
Why does my trade automatically close?
A trade may close automatically when the Stop Loss or Take Profit order you set is triggered, or when its contract expires. Stop Loss and Take Profit are risk management tools that add an extra layer of protection to your investment. You can see all your closed trades in your History view and your Account Statement.
Do positions close automatically?
Your Stop Loss or Take Profit may have been triggered. If you no longer have enough equity in your account to support the trade's margin requirements, the automated stop-out system will start to close out your trades.
Why did forex close my position?
If a market trades over your limit level then you will be closed at the best available price at the time. This price will always be at your limit price or better, and is referred to as 'positive slippage.
What happens if I close a trade?
If the trader closes the futures position for a loss the funds are withdrawn from the traders account and their account balance will go down. Once trades are closed the margin that was being used for that trade is no longer needed and that margin is now available if the trader wants to place another futures order.
When should you close a forex trade?
Traders will generally close positions for three main reasons: Profit targets have been reached and the trade is exited at a profit. Stops levels have been reached and the trade is exited at a loss. Trade needs to be exited to satisfy margin requirements.
What does close mean in forex?
The close is a reference to the end of a trading session in the financial markets when the markets close for the day. The close can also refer to the process of exiting a trade or the final procedure in a financial transaction in which contract documents are signed and recorded.