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Looking for FX broker with 500:1 leverage

  • Post #1
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  • First Post: Sep 10, 2024 4:18am Sep 10, 2024 4:18am
Hellow everybody
I live in australia, and I want to open a forex account, but all the FX companies have a leverage of 1:30, but I want a highr lavarege, 1:500.

What do you recommend?
Quoting ghazy_55
I want a highr lavarege, 1:500.

What do you recommend?

I recommend changing what you want, and re-educating yourself with the aim of eventually understanding that having your leverage limited to 1:30 is NOT what’s preventing you from trading profitably.

As regulators regularly explain to the governments that fund them, in their annual reports, nobody trading with 1:500 leverage is trading profitably, long-term.

There are reasons for that.
Quoting ghazy_55
Hellow everybody I live in australia, and I want to open a forex account, but all the FX companies have a leverage of 1:30, but I want a highr lavarege, 1:500. What do you recommend?

I hold a different view. As new traders/Beginer like me, we usually need leverage because we don’t have much confidence in trading in forex market, but we want to trade with real money instead of demo accounts. Isn’t the emergence of leverage because we want to join the foreign exchange market with the smallest amount of funds? The leverage that my broker in my country currently gives me is 1:1000, but I still using 0.01 lot to get into the market and I only trade GPB/USD
Estoy Probando XM, con 1/1000, tiene los spread bastante bien, comparado con FBS, que es mi broker desde hace 7 años, lo q nadie dice,con este apalancamiento tienes que tener un determinado capital, y lo principal es aprender a no perder!! es lo principal!! la ganancia te viene sola!!
Quoting ghazy_55
Hellow everybody I live in australia, and I want to open a forex account, but all the FX companies have a leverage of 1:30, but I want a highr lavarege, 1:500. What do you recommend?
Become a pro client - 30:1 is for ASIC retail, ASIC Pro get 500:1. You're safer doing this than using a dodgy offshore broker.

Most tests are easy enough. I'm a pro on 8Cap, Fusion, Pepper and IC.

If you can't pass the pro tests, then you shouldn't be using 500:1
Quoting split41
Become a pro client - 30:1 is for ASIC retail, ASIC Pro get 500:1.
This is completely wrong.

You’ve bought into what unscrupulous brokers want you to believe.

Those “Pro” accounts offering leverage above 1:30 are not regulated by ASIC, even if the broker is: they’re regulated offshore (if at all).

It’s not about where the broker is regulated: it’s about where YOUR ACCOUNT is regulated.
  • Post #7
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  • Last Post: Dec 10, 2024 8:54pm Dec 10, 2024 8:54pm
Quoting Quickly
{quote} This is completely wrong. You’ve bought into what unscrupulous brokers want you to believe. Those “Pro” accounts offering leverage above 1:30 are not regulated by ASIC, even if the broker is: they’re regulated offshore (if at all). It’s not about where the broker is regulated: it’s about where YOUR ACCOUNT is regulated.
No it's not, please educate yourself. You're still under the ASIC license, you're just treated as a sophisticated investor or wholesaler so you lose negative balance protection (for retail only) and gain more leverage. You're NOT on an offshore license. I even believe ASIC increased the requirements this year so it may not be as easy to qualify anymore. You still can dispute with AFCA, you just will be treated like someone who should know what they're doing.

I don't know where you're getting your information from (but I would recommend googling for yourself), what you said is completely wrong and very misleading to anyone who reads this thread.
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