wow, 3000 seriously?
with this high leverage, you can wipe out your account in 1 trade lol
I will have to disagree with that. It is not suitable for everyone, but simply stating high leverage is bad is out of order.
1:3000 is the highest leverage I ever known in trading 
However, I think 1:1000 or lesser is better for all trader.
1:200 is good for newbie trader and 1:500 - 1:1000 for novice trader, since they know how to trade better