This is a really newbie question.
Do I pick leverage or is it just assigned to me by my broker?
I’m using g Onanda?
I understand the concept of leverage but do I pick it per each trade?
Oanda will assign you a leverage percentage, but you can change this if you want to
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When you added a leverage then you’ll get this facility on your every trade;
It’s margin requirements and overnight swap (interest) rates that are leverage limitations, each broker has its’ own account types; some of which offer more or less leverage.
The more leverage a broker offers the better but anything more than 100x isn’t necessary for most retail traders.
Agree; anything like the word of “over” is dangerous; like over-trading, over-lots and same terminology for trading leverage.
And over-zealous.
Of course, it is! More dangerous for sure.
choose a forex major pair whose price range is minimal.