I am considering starting binary options trading. Instead of opening accounts on multiple platforms, I would like to know that if it is possible to open multiple accounts on one trading platform?
Most binary options brokers do not allow traders to open multiple accounts on one platform. Before you start trading, it is recommended that you read carefully the terms and conditions on the platforms where detailed information are provided. In addition, for those who share one user ID with the family members and have multiple accounts under this user ID, brokers may regard it as an inappropriate action.
If the violation of conditions is confirmed, it is likely that your account, which includes both the deposits and the profits, will be frozen. If your account is frozen, you cannot do anything including fund withdrawal. It is thus very necessary to contact the broker or read the terms and conditions in advance so as to make sure whether traders are allowed to open multiple accounts.