Need to know the truth

Yes there are some compliance that have to be followed by forex brokers. But choosing one of the brokers is a very important task. I would recommend that shortlist some of the brokers and make comparisons between them.

Every trader should also do that. Increasing lot size without proper measurement is kind of suicide in my opinion.

IvarHardy posted:
Every trader should also do that. Increasing lot size without proper measurement is kind of suicide in my opinion.

True that..

Markwoods posted:
Well, I have been using an ECN broker and I can tell you that I haven’t faced such issues with them so far.

I can second that since I’ve been using XM and Fxview’s ECN too. The spreads are tight and the leverage is also fine. I try to keep the leverage low but then for some particular trades, it is got to be high. I mean if you’re not risking much, you won’t earn more profits, right?

I believe that everyone should have the right approach to trading, which is why I now use ECN with a leverage of 1: 200 and a deposit of $ 200 from Amarkets broker.

Femilas posted:
I believe that everyone should have the right approach to trading, which is why I now use ECN with a leverage of 1: 200 and a deposit of $ 200 from Amarkets broker.

can you inbox me your broker details

Lycineandrew posted:
Hey Rassell, I don’t go beyond 1:200 with the leverage and overall I don’t like to risk more than 2% of my trades.

Isn’t 2% low? I would risk at least 4% of my total trade to be able to get somewhere with returns.

Lycineandrew posted:
That is somewhat right. I usually don’t go very high with the leverage since I feel it is kind of risky.

Yeah it can be a bit risky. I don’t know why people use such a high leverage, at least I’m not a risk taker.

Ezereombre posted:

russellgutierrez posted:
Do you really want to use this much leverage, even though most of the reliable brokers can offer you leverage ranging from 1:2 to 1:1,000 depending on the investment and requirement of the traders. There are different leverage levels that are ideal for traders with diverse knowledge and experience. So, when you talk to your broker, consider your individual needs and strategy. But, if you’re seriously planning this much leverage, do work on your strategy once.

Right and even though ECN brokers offer more than 100:1 leverage, the best deal would be to have a broker like Fxview, FXVM, or eToro that offers various leverage ratios like 50:1, 100:1, 200:1, and 400:1. I have traded with them and could change the leverage ratio on their website’s dashboard.

I completely agree with you on this. I use Fxview too and I’m thinking about opening some demos with Oanda or XM. Let's see how that works out.

stevenflam posted:

Lycineandrew posted:
Hey Rassell, I don’t go beyond 1:200 with the leverage and overall I don’t like to risk more than 2% of my trades.

Isn’t 2% low? I would risk at least 4% of my total trade to be able to get somewhere with returns.

Well, some people are risk takers while others are not. Simple as that if you ask me.

Lycineandrew posted:

stevenflam posted:

Lycineandrew posted:
Hey Rassell, I don’t go beyond 1:200 with the leverage and overall I don’t like to risk more than 2% of my trades.

Isn’t 2% low? I would risk at least 4% of my total trade to be able to get somewhere with returns.

Well, some people are risk takers while others are not. Simple as that if you ask me.

I think trading is not the safe way to invest money. Traders always have to take risk to earn money.

If you want to trade, you must control the risk. And the best way to control this risk is to select low leverage.

That’s not true. There are so many ECN brokers that offer leverage more than 1:100. Some ECN brokers that I have already been using include ICM and Fxview and they offer quite high leverage. You need to go for their offshore option if you want to use high leverage.

The ECN brokers that I have used so far have offered me 1:500 leverage on average. So, I don’t think there is any truth in what you are saying.

Mikehussey posted:
The ECN brokers that I have used so far have offered me 1:500 leverage on average. So, I don’t think there is any truth in what you are saying.

Can you share what broker is it?

You really need to do some more research on offshore brokers. There is no limit to the leverage that an ECN broker can offer. It is their choice and they set the limit according to their own conditions.

Mikehussey posted:
The ECN brokers that I have used so far have offered me 1:500 leverage on average. So, I don’t think there is any truth in what you are saying.

So have I! There are some ECN brokers that offer leverage around 1:1000. However, it is up to the trader what leverage they want to use. I personally think that 1:100 is also quite high.

Mathewshayden posted:

Lycineandrew posted:
That is somewhat right. I usually don’t go very high with the leverage since I feel it is kind of risky.

Yeah it can be a bit risky. I don’t know why people use such a high leverage, at least I’m not a risk taker.

Simply to increase the scope of profit and who wouldn’t do that? Imagine having $100 and then the prospect of investing $100,000 because of leverage. Your chances or profitability will also rise up.

One line for high leverage- big profits can end up being smaller, and small losses can turn out to be bigger. How many of us actually have the understanding of stopping when the prices are moving away from the predictions?