Testing a backup broker with ten micro trades

[FXS London Scalper]

A backup broker account is only useful if it works when you need it. A twice-yearly drill makes sure.

The drill:

• Log in from the VPS and from your phone. Check that passwords and 2FA still work.
• Check the symbols you trade exist with the same names, digits and contract sizes.
• Place ten micro trades at your normal hours, with stops and targets.
• Note spread, commission and fill against requested price.
• Make a small withdrawal to confirm the process still works.

Things a drill often finds: an expired document that needs re-verification, a changed server name, a platform update, or a symbol renamed with a suffix.

Keep a short note of the result with the date. If the backup account ever needs to take over, that note says what to expect.

The withdrawal step is easy to leave out, yet it tells you the most. A broker that's slow with a small withdrawal will not be faster with a large one.

Do you keep a backup account, and how often do you test it?