That seems about right. I don’t think it is possible to survive without it. The brokers that have a rich history and also have a particular reputation are bound to have multiple traders on their platforms. I also trade with some well known brokers, they must be having a valid legal status as well.
Not at all. I started with Pepperstone and now I’ve opened an ECN account with Fxview. I’m getting pretty low spreads on it so let’s see how it goes. Anyway, these are reputed platforms so I’m kind of okay now to risk high.
In order to understand how legitimate a broker is, its terms and conditions need to be carefully checked the license.
You yourself must understand whether there is a broker on the market for a long time and is in a good rating among competitors, then and its reliability is beyond doubt
A heads up guys - Australia's ASIC too banned leverage above 1:30 and that ban has been enforced since the end of March.
Hello, I had same question some months ago. It is not easy to find high leverage brokers with that low minimum capital that can be trusted. All of them are offshore brokers. Well, I found Forexchief more than 12 months ago. I have been using this broker and I want to recommend it to you. Leverage is up to 1:1000, negative balance protection and easy financial transactions. Thank me later.
1:1000 leverage and only have an account for $100? Can't see anything remotely wrong with that equation.
There are several brokers that offer high leverage, but until you trade with them, it could be challenging to find who is reliable. I trade with a broker that offers high leverage up to 500:1 (FP Markets), It's been six to seven months trading with them, and so far, it looks legit because of its ASIC regulation & the withdrawals are smooth.