I disagree. Trading with high leverage is how you blow your account.
And if you’re trading with an unregulated broker, they’re taking the opposite of your trade so they want you to use high leverage AND blow your account so they profit.
You’re basically walking into a casino who is about to take your “small deposit”.
There’s a reason why US and UK limit leverage because data has shown high leverage basically guarantees losses.
Please name some unregulated brokers that have “run for decades”?
Retail access to forex trading is only about a decade old so not sure how one can operate for multiple decades.
The retail forex broker industry has evolved over the years with some brokers being acquired and other brokers closing down. The ones that are still operating from a decade ago are ALL regulated (e.g. Forex.com, OANDA, Saxo, FXCM, Dukascopy, etc.)