What deal lot size should I use on 50USD account with 1:20 leverage
the rule of thumb - and a good one - is that you need $250 in an account to trade 1 microlot (0.01 lots) safely and sensibly, so with $50 you should be trading no more than one fifth of that (0.002 lots) for which you’ll need a broker allowing such trades - there are several, e.g. Oanda
the amount of leverage isn’t strictly speaking relevant to this
avoid the mistake many people make of trading 0.01 lots with only $50; that’s a sure-fire losing strategy without even any real educational value
and welcome to the forum, and good luck!
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To be honest, $50 account size is just giving your broker extra money. I would not expect any new trader to be disciplined and patient anough to trade 0.002 lot size for any length of time.
However, it is great practice if you could learn from your mistakes. And as a realtime trade session over several months with a 0.01 - 0.03 lot size, with no more than a daily exposure exceeding 0.03, I held a $65 account intact just to prove it could be done with the right trend strategy.
Best of luck.
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With this leverage, you can only take one shot with a 0.01 micro lot size.
Because for any trade to happen, you need a minimum of 1000 units to open a position, which is the 0.01 micro lot.
And $50 with 1:20 leverage is you having the opportunity to trade with just $1000 (50x20).
If you can, I’ll say you use between 1:100 to 1:500 leverage with 0.01 micro lot size.
This isn’t so, @MatthaelFx .
As @flamingoproxy explained above, there are some good brokers where much smaller position sizes than that can be traded, and someone with a $50 account will need to use one of them, and should.
This is absolutely terrible advice. 
There’s a reason no properly regulated broker will (or legally can) allow leverage like that.
I’m aware there’re brokers with such.
Can you explain why? I’ve been hearing of this a lot.
The proper, real regulators (FCA, ASIC, CFTC, NFA, and a few European ones - not Cyprus! - know, from decades of experience, that brokers offering high leverage are blatantly trying to attract customers with a gambling mentality, who can’t possibly be profitable in the long-term.
That’s how those “brokers” (they’re not actually brokers at all, of course, they’re counterparties pretending to be brokers) make sure they always win and don’t usually even have to offset their customers’ “trades” (they’re not actually trades, of course, they’re just bets on the movements of prices of home-made “products” whose prices are determined by the “broker”) in any live, transparent market.
Apart from far higher leverage than any real regulator would ever allow, the other tricks those “brokers” use to attract the naïve, the gullible, the clueless and the gamblers include: bonuses, competitions, and other tricks designed specifically to attract people guaranteed to be losers.
That’s why all these things, but especially high leverage, are such big red flags and denote “brokers” to avoid like the plague.
So please don’t make posts advising people to use leverage of up to 500/1 here. That’s just ensuring that members lose their money to fake “brokers” who are regulated (if at all) by fake regulators paid for by the companies they pretend to “regulate”.
The entire industry is very corrupt. In 10-20 years time, CFD’s and spot forex will probably be illegal in all civilized countries, and retail traders will trade futures instead, honestly, in a transparent and legitimate and real market. The sensible ones and the profitable ones already do.
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then (respectfully!) stop telling fellow-members that “for any trade to happen, you need a minimum of 1000 units to open a position”
that’s untrue
i’m not trying to be rude to you at all (promise!!) and i appreciate that you’re trying to help people, but you’re actually misinforming them, and in ways that will really hinder them if they take notice of you - you can see this, surely?
Pipsteroid’s post just above explains it well, and clearly, and here are a couple more posts/threads which may also help you to understand it: 
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Oh, I see.
Thanks for the detailed explanation.
No worries. Noted
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my guess is that it may actually be faster than that, but i’m a born optimist 
things are already moving in that direction, though
the most gullible punters are going to end up being to some extent financially protected whether they like it or not - even the ones who like to whine and complain about what they see as excessive regulation (some even think all regulation is excessive by definition!)
to be honest i actually have quite a lot of sympathy with them, because it’s not their fault: the regulatory outcomes we’re gradually seeing more and more now are simply the inevitable result of the whole industry’s longstanding historical refusal to regulate itself adequately in the face of increasing public (and therefore political) pressure to do so
no mystery there! 
the very vociferous (but actually very small) minority you see complaining in forums about “over-regulation”, in this context, are typically (albeit not universally) a self-selected group of the ones who have no idea of all the advantages, safety and ease of trading forex futures rather than forex CFDs: they want the nasty, crooked, dishonest, cheating world they’re used to to be preserved because they’re unaware of the existence of anything better
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You can use lot size within 0.01 to 0.03 and it requires much patience from you.
this is horribly bad advice, exactly as explained above at such length and in such detail
that’s 5 to 15 times the position size he should be using with that sized account 
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