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Can a Broker Legally Cancel a Forex Trade?

July 26, 2018 August 2, 2018 Barbara Cohen

As long as you do pay careful attention to the Forex Brokers sites that you sign up to as a trader, and ensure the ones you do join and then trade at are legal and fully licensed and regulated you are very unlikely to ever experience any types of problems trading at those sites.

However, every now and then a Forex Broker may do something that you are unhappy about or may feel they are not legally able to do, and today I am going to be looking at when a Forex Broker can legally cancel a trade you have placed, even if that trade is currently live and in play.

The only time when a Forex Broker will be able to cancel a trade you have placed and may be in live play is when there has been an error pricing up that trade, however there are some rules that Forex Brokers will have to abide by when cancelling out and voiding such a trade.

They should offer you the option of taking the correct odds and prices on such a trade if they have cancelled it, or offer you a full refund of you investment and stake. Some Forex Brokers may however accept their error and pay you out if that trade is a winning one, if they have incorrectly priced it up.

Hassle Free Trading Experience

What you are going to be given the option of doing before you start to place any type of Forex trades at a Forex Brokers site is to make use of a demo trading account, and that is something I would always advise first time traders to do.

By you doing so you can then place a range of trades in a real trading environment, but by doing so you will be using demo account credits so whilst mastering how a trading platform works and operates you will never be putting your own funds and cash at risk.

Always Trade Within Your Means

The art to being a successful trader is of course always trader within your own personal means and that is also going to see you having in place your own trading limits as well, so never overlook the important of setting yourself a budget and always sticking to it.

As long as you do select a Forex Broker that is licensed and regulated in your own home country of residence you are never going to run into any problems, but if you do you will always have the back up and assistance offered by the licensing authority who will always be acting in traders best interests of course.

About The Author

Barbara Cohen

Author

Barbara Cohen is a trader at heart and in her regularly news stories and articles she will be giving you an insight into the ups and downs all traders can and will experience, so please do read them through as you are bond to find them interesting!

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