You really need to know the truth because what you know is not how it is in real life. I know some CySEC regulated brokers that offer ECN accounts and maximum leverage up to 1:2000. If you want your trades to work for you, you really need to update your knowledge because otherwise, you won’t be able to reach where you want to in your trading career.
Thank god, I read all the comments otherwise, I would have believed what the OP said. I have been trading with an ECN broker that offers 1:1000 leverage and thought that I am being scammed hit me hard.
I don’t think there is any other way better than leverage to make efficient use of your capital. Because of leverage, I have been able to trade even those markets that I would not have been able to otherwise, along with the benefit of trading more contracts.
Using leverage is your personal choice and requirement that should be based on your trading strategy, financial targets, your capital, and how much you are actually willing to lose. Try practising with leverage on your demo account initially to ensure that your trading strategy considers your deposit amount before you start leveraged trading.
Everything that is put on the internet is not worth believing. You should confirm information from different sources before you believe it. It might require a bit of your effort but it will save you from traps and scams.
If there was something like that, traders would have never been able to use high leverage. The maximum number of traders that I know prefer ECN brokers for security. If these brokers can't offer high leverage, their profits would be limited to small amounts and everything else they have read about forex trading and making profits would turn out to be false. Some might even conclude that some brokers are not reliable enough to offer the high leverage.
You can check it with your broker and the country you are living in. These can be the only limitations. There can be some of them but not all. I have used leverage up to 1:1000 with ECN brokers in my country.
I can’t think of trading without leverage because of the simple reason that I can make a considerable amount of money with only a limited amount of capital. I have not made profits only but whenever I have used leverage I have made greater profits.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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