Greetings fellow traders. Quick question here. I see one broker offering a leverage of 1000:1 with a low deposit. Would you be willing to trade such a small account on such leverage? lololol.
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Sure. With that kind of leverage you can turn your $100 into $100,000 in no time 
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There is a saying… “Great minds think alike, though fools seldom differ .” 
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I’m a time traveller, so yes, but I wouldn’t use that broker. .
Nope. I only deal with brokers that can offer at least 50,000:1
Anything less is a waste of time for me.
I live in the fast lane. When I buy a car, I tell the dealer to remove all the brakes and mirrors.
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Ha ha I’m on 1:500 but I think 1000 is pushing it
I just spit out my drink.
Does the amount of leverage really matter if you stay inside your risk management and position sizing? Isn’t that good, so you don’t have to put up as much on the trade?
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The maximum leverage that good brokers provide is 1:500.
No, I wouldn’t.
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The higher the reward, the higher the risk. What if price moves against you and it gaps? If price reverses and gaps your SL, your bank account could get drained.
Of course, that depends on your TF. But with leverage, you gotta look at the risk; not just the reward.
What you may define as a “good broker” may not qualify as such in the eyes of another trader.
And for the other traders out there just imagine what would happen if on your $100 account you had a 0.02 size lot on gold on a Non Farm Payroll (NFP) day and price moved 200 pips in your favour with such a 1000:1 leverage?
Interesting.
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the amount of leverage really doesn’t matter if you stay inside your risk management and position sizing.
I took 1:1000 leverage.
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Even on an account with high leverage, by choosing smaller lot sizes you can lower your “effective leverage” so that your risk is smaller. Here’s an article on effective leverage: Effective Leverage | FXCM Markets. You can find others if you search for it. (I’m not affiliated with the forex dealer linked to - except as a mere customer).
It certainly would be foolish to trade the maximum lot size on such high leverage with a small account balance. Trading with such a small account size is only for building confidence, not for making any real money.
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Good laugh. Who said fx traders don’t have a sense of humor.
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Have you experienced that a lot? I know weekends it happens more frequently. I guess maybe if you trade big news events?
Yeah, gaps happen all the time. I’ve seen TRL gaps that were terrifying. I trade D1, so weekend gaps don’t bother me much.
But with high leverage, they could be tragic.
What’s TRL?
Yea great point. I don’t trade with leverage so thanks for pointing that out. Your thoughts on newbs trading leverage, even if like 5 or 10:1?
Turkish Lira
I don’t have any experience with variations in leverage. My brokers offer fixed leverage only.
However, what I do know is that the higher the reward, the higher the risk. Always.
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What leverage if any did you decide on?
Currently I’m at 200:1 and that disappointed me because I had hoped to get more. Everybody tells me that a higher leverage equals bigger possible losses but curiously enough they rarely mention the possible bigger wins.