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When can a forex trader use 1:1000 leverage?

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I have been using a lower leverage since the start. I've never exceeded 1:200. Now I am considering increasing my leverage from 1:200 to 1:1000. This is the maximum leverage provided by Forexchief STP/ECN broker. Has anyone here used up to that leverage? If yes, how did you manage the risk?

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Leverage is very important for retail traders. It increases our buying power. We can trade with inconsequential capital with the help of leverage. The lead is whether you take high leverage by then reducing the hazard % proportionately. In any case, I figure trader should focus on quality trading. Also, for that perceiving and contorted is basic. For my trading I utilize Eurotrader broker since I like their useful resources like eBook and video instructional activities. I utilize 1:300 leverage in any case they give from 1:100 up to 1:500 leverage. 

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  • 3 years later...

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