High leverage might seem alluring and is capable of giving enormous profits. But, it is also a highly risky deal and can drain your whole capital. Traders should always use strict risk management and trade it carefully.
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Iām seeing a number of good brokers with high leverage, but Iām not sure which one to pick. Can someone recommend me a broker that suits a newbie like me? Or if there are any other suggestions Iām open to them!
So unpredictable, in fact for now I have decided not to take that risk of leverage anymore. I just rely fully on the 70% trading credits from forexchief. Itās better to earn little and compound and be safe than sorry.
@flok Iām not sure if thatās going to work for too long, as leverage is an important part of forex trading. I think the best thing to do here is to use risk management strategies to manage losses. What do you say?
I wonder if you are going to be a millionaire using those70% credits offered by your broker
Credits!! Am I missing something here? I only know of bonuses that some brokers offer.
@johnathanneal Same here, I have only heard of bonuses offered by brokers on making a certain deposit. Received a 100% bonus from fxview on depositing 200 bucks. How do credits work I wonder?
Yeah, is there any broker that allows bonuses to be withdrawn? I have scoured the web but couldnāt find any broker that does that.
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It creates impression you have more margin what makes you able to open larger positions. Another definition of leverage. I use this stuff for trading news to get max from a price outbreak.
One good and relatively safe reason to use leverage is to trade like your account is 20x than your deposit amount. For example, letās say my goal is to trade like I have a $100,000 account and want to risk $250 per trade (0.25%) until I build up some gains, in which case I can then safely ramp that up to $500 per trade (0.5%), but I only want to put $5k into an account.
Leverage allows me to trade like I have that $100,000 account using my risk parameters, but I donāt have to tie up $100k to do it, even though I might have $100k sitting in Treasury Direct earning interest.
I hope you realize that trading with a $250 risk is very low riskā¦ if you know what you are doing. So the leverage in this case is about maximizing capital safety vs. moar gains, Lambo! baby!
Please i am looking for a broker that offers 1,:2000 leverage and above, who can recommend me one
I canāt vouch for any specific brokers, it might be worth checking out some well-known ones in the industry and seeing if they offer what youāre looking for. Make sure the broker is reputable and regulated.
A broker offering 1:2,000 leverage canāt possibly be regulated by anything better than a pretend or fake regulator. Real regulators donāt allow such leverage, and for good reasons!
Brokers offering leverage of that level are very good at taking deposits but no good at all at paying out profits, of course. Thatās why theyāre not regulated and are often based in small island countries most people have barely heard of.
The person you call the ābrokerā is actually the counterparty.
If you win big, with 1:2,000 leverage, what do you think are the chances of being paid out, given that the broker has chosen to be unregulated?
Theyāre not too high, are they? 
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Iāve been using FXGlory, which offers leverage up to 1:3000. You might want to check it out and see if it fits what youāre looking for. Just a heads up, thoughāhigh leverage can be pretty risky, so make sure youāve got a solid strategy before diving in!
But not as risky as the ābrokersā offering it: brokers offering high leverage canāt possibly be regulated by anything better than a pretend or fake regulator, because proper regulators donāt allow that, and for good reasons!
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Itās wise to be cautious and do thorough research before choosing a broker. However, I believe that the most practical approach is to start trading with small amounts to see how the platform performs and if it aligns with your trading strategy. For me personally, Iāve been trading with FXGlory and havenāt encountered any problems so far. We all have different priorities and risk tolerances, so the decision about which broker to use is best made by us as individual traders.
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Long may that continue!
Some people really do encounter pretty big problems there, though, Amy, and the problem is that when they do, there isnāt a proper regulator to protect or help them. Thatās actually apparent, by definition, of course, from the leverage they were offered when they opened their accounts.
Certainly, but for many people (especially anyone who might not be aware of it 
) the āhigh leverage excluding proper regulationā point is very important and fundamental. It really canāt be stressed enough in a beginnersā forum where some people may know no better.
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