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Differences between the Foreign Exchange Market and Stock Market May 23, 2022
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Rogue Trader

Mira Team by Mira Team
January 14, 2021
in Forex Terms
Reading Time: 1 min read
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Definition – What does Rogue Trader mean?

A rogue trader is an individual who circumvents rules or limits and causes huge problems for the institution that employs him and its clients. Rogue traders are known for racking up huge losses in speculative investments they weren’t supposed to be making. Weak internal controls at an institution may allow a rogue trader to hide losses for an extended period of time.

ForexTerms explains Rogue Trader

Rogue traders are often blamed as individuals, but some of the blame has to be laid at the feet of their employers. As it is the clients’ money at risk, financial institutions have a responsibility to make sure no single employee can destroy that value. Many banks have internal audits and risk management professionals who must approve speculative positions before traders take them. When this double-checking function is absent or weakened, you end up with rogue traders.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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