Hi there question
right now i use a 1: 500 leverage broker, as your account grows say you have a 5000 pound account when this account reaches say 100000 will the broker reduce your leverage or could you keep trading the account at 1 :500 leverage till you reach 20 million in theory
im not new to forex i have lots of expierence but NOT A MILLIONAIRE LOL not looking for leverage or trading advice nessesarily just curious as to if there is a account size limit that the broker will allow you to grow to before they reduce the leverage as your account grows?
looking for traders specifically that have expierenced trading larger accounts at this leverage
I don’t believe so, but most 500:1 accounts are in poorly regulated countries nowadays. There’s very few brokers I would trust with that high leverage accounts.
Oh and 500:1 leverage is a recipe for disaster fwiw.
any who have, and have withdrawn their funds, have been very lucky
nobody with a substantial account (and any good sense at all) is trading it with an unregulated broker, or one regulated in an “almost-unregulated” country - they’re trading with a properly regulated brokerage, usually FCA- or ASIC-regulated
that means they’re not using anything like 1:500 leverage, because that’s (rightly, and for good reasons!) illegal in countries with proper regulation
you might want to take a big risk and start off that way, briefly, to try to grow a tiny account quickly, or whatever, with funds you don’t mind losing, but otherwise - really, really, a re-think is in order, here!
for those brokers which offers a high leverage be careful, and check their users agreement also their reputation and regulation.I don’t wanna scare you but be careful.
What is the distinction between regulated brokers and uncontrolled brokers @NatureGirl ?
When you have a disagreement with a registered broker, the appropriate regulatory agency will act as a mediator. If you have a disagreement with an unregulated broker, the corporation will function as both the defendant and the court. You will not be assured a fair decision if you do not have any just redress.
You’re totally right. When a broker is unregulated, it implies there is no regulating agency or group of people watching over them; in other words, they may take your money and go.
i read it but you didn explain bout unregulated brokers you jus said some positive points bout regulated ones and then conclude to not use an unregulated broker. that doesn make sense
That’s what I’m confused about too. There are good reasons not to trade with unregulated brokers but I saw unregulated brokers that a lot of people are working with them.
You could try thinking of a forex broker as like a bank.
You must have a bank account but what would you think about opening a bank account with a bank you have never heard of, in a country you have never heard of, and whose only address is a rented office in yet another country you have never heard of.
What would make you trust them enough to send your money to them?
i am looking for high leverage too my friend
but you have to know that it is very hard to find a regulate broker with high leverage
try to search and tell me please but remember to not try unregulated broker
mayb people say they are good but it is not logic to work with them
It is common among brokers that offer high leverage. They will automatically reduce your leverage when your balance increases. Overall, try to get real people’s advice on your broker and even search for that in Google (avoid FPA; they obviously earn money for their reviews). Maybe you need to change your broker with the details you mentioned!
Impressive growth ambitions! As your account grows, it’s important to consider leverage and liquidity. Traders with experience on larger accounts, please share insights on whether brokers reduce leverage limits or if you can continue trading at 1:500 leverage. Appreciate your valuable input!
