For me, a lot of times the broker who claims on providing high leverage turned out to be scam. However, it is possible that there are reliable brokers with high leverage. It's just my personal experience or maybe I didn't do enough research before trying them. Please don't quote me on this Currently I am dealing with FXTM, Coinexx, IC Markets and and I am quite satisfied by the leverage I am getting. I believe that the high leverage could mean two things- scam or high level of risk; and I am not looking forward to any of it. The most apt leverage is between 1:100 and 1:200 and that’s what I am getting with above brokers.
Depending on where you trade high leverage may not be possible. Leverage above 1:30 for the entirety of the EU has been banned for quite a while now. Even if you are not in the EU brokers regulated there are out in that case.
I would suggest beginners to trade with lower leverage to minimize risk and to develope most skills and knowledge on the live account. To more the capital invested the higher risk and confidence level will also fall.
many brokers that have existed on the market for a long time and have many clients in principle and have a legal status
Agreed! Beginners, instead of only high leverage, should also focus on more important factors like regulations, withdrawals, etc. Fxpro, Fxview, PLus500 are some good options to check imo, which broker are you using?
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The wording are all too similar and the fact that they do not reply to my post asking about their trading conditions, especially commission, is quite alarming
I would actually agree with you. I believe the same. Leverage is like a double edged sword so we need to be really careful with how much we should use. For me, the lower the better.
I think they need to have a legal stance if they have been around for such a long time and have a decent client base.