I’ve been on the forum here for awhile, and I gotta say it’s the best forum out there! I have tried to offer my advice and services whenever possible because I think it’s all about giving back to the community.
Now, I need some help from all of you! I need a broker that will have high leverage and a low minimum deposit. I’m going to try a new trading strategy that will increase my risk but be a very controlled risk.
I’m currently using Oanda, and they are decent but do not offer high leverage. I’m looking for 500:1 leverage.
Are you sure about this? 1:500 leverage means that if you invest all your capital, 20pips of USDCAD would either double your account and 10pips would halve it.
Anyway, Alpari, FXTM, Exness,Orbex, CMC Markets and XM offer what you are looking for with a max min deposit of 200USD.
I deposited $1 on my first micro account with Profiforex. That is the minimum deposit offered. I only used that money to see if what I was getting into was the real deal. Well, it turned out ok. I put in more $500 and open a standard account. Yes, ofcourse, I use the 1:500 for my micro account with low deposit. its 2 years not with them. So you ask a question, this is the answer
Funny because I currently trade on Exness and XM. High leverage and low deposit for micro accounts. I actually never felt the need to upgrade my account to a standard account.
I currently open an account with Armada Markets. minimum deposit for ecn account type are 300usd, i think it’s a fair minimum deposit for accesing fast execution entry, major pair spread are low (i’ve got 0.3 pips on EU), this account are for forwardtesting my scalping EA, some a pretest before I go with the true initial deposit. and also they offer 1:500 maximum leverage, used on 1000usd initial deposit, but my advice is go for lower leverage when deposited higher than 1k USD. what kind of trading enviroment do you need actually, based on your desired high leverage and low deposit, i guess you’ll test a scalping strategy.
FP, in nowadays brokers world 1:500 leverage is just a moderate leverage! Brokers are now competing to offer leverage of 1:2000 - 1:3000. You can find tens of brokers with leverage of 1:500 and low minimum deposit. Please let us know if you have any other criteria!
High leverage is definitely one of the benefits of trading forex. It gives you the ability to manage what you do not have and raises your profit ability. You can get as high as 1:500 from a well reputable broker and the traders’ choice in the FX market. All you have to do is open a demo account with the Broker and try what they have to offer.
You can get what you are looking for but I hope you know that how risky 500:1 leverage is. The ideal leverage is 100:1 or at the most 200:1. But as per your requirements, FinPro Trading should suit you. They don’t have any minimum deposit limit and leverages as high as 500:1 are available. While other brokers might give you this leverage but they would some minimum deposits. And at Finpro, you can also enjoy the tight spreads and quick trade execution in the absence of any dealing desk.
Do your own due diligence before deciding on a broker. That being said, I found this post on www dot forexpeacearmy dot com forwardslash public forwardslash review forwardslash www dot liteforex dot com.
(sorry for this, but the site won’t let me link yet)
Well, at first, to my thinking anyway, you wouldn’t want a large account, as it has been said time and time again, only trade what you can afford to lose. But once you get better at trading, you would want to have a bigger account that way you can make bigger trades, even when not using crazy high leverage, and still be able to make more money per trade.
Higher leverage is good in that it allows you to control higher amounts of money in the trade, that is true. But is also can be dangerous if a trade goes against you. It isn’t like the system will only use that leverage when a trade goes well, it will do it when it goes bad too.