Pick Two Brokers if Funds Allow
This option gets difficult for traders with limited funds as it involves funding separate accounts. Why two brokers? Although system failures occur less frequently with today’s technology, they can and do happen. If you are in a trade when a platform fails, it can be difficult, if not impossible to reach your broker with the volume spike in calls coming into his office. A second broker can give you a place to hedge your transaction until you can cover the outstanding trade. This can save thousands in dollars and even sleepless nights, depending on the severity and length of an outage.