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FXCM allow 400:1 leverage?

  • #1
  • First Post: Nov 3, 2007 4:43pm Nov 3, 2007 4:43pm
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
yes? is that true?
mld
  • #2
  • Nov 3, 2007 5:08pm Nov 3, 2007 5:08pm
you could ask them
  • #3
  • Nov 3, 2007 7:06pm Nov 3, 2007 7:06pm
I'm not trying knock your trading style. I'm definitely no expert. But I am curious. Perhaps I could learn something new from you.

How do you use such high leverage and not blow up your account?

A little about my trading:
Depending on the currency pair I use between 10:1 and 30:1 leverage and try not to risk more than 5% of my equity on any trade. I primarily trade the majors but also trade yen crosses.
  • #4
  • Nov 4, 2007 2:43pm Nov 4, 2007 2:43pm
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
Tara Stars
Risk comes from not knowing what you are doing
I just found Fxsol which has a nice flexible leverage, gotta try them,
I'm not yet sure if FXCM also offer 400:1 leverage for all account types, no reply from them yet
  • #5
  • Nov 4, 2007 2:57pm Nov 4, 2007 2:57pm
Quoting mld
Risk comes from not knowing what you are doing
What does that have to do with leverage?
  • #6
  • Nov 4, 2007 3:21pm Nov 4, 2007 3:21pm
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
Quoting philmcgrew
What does that have to do with leverage?
trading big with small funds so using bigger lots for bigger profits and the risk involved could be limited with self-knowledge
  • #7
  • Nov 4, 2007 3:29pm Nov 4, 2007 3:29pm
Quoting mld
trading big with small funds so using bigger lots for bigger profits and the risk involved could be limited with self-knowledge
I've heard that one before. Best wishes with your trading.
  • #8
  • Nov 4, 2007 3:40pm Nov 4, 2007 3:40pm
They effectively offer 400:1, in control panel of live account you download a format that have to fill, sign, scan and email them asking for it.
Ado Whether you believe you can do a thing or not, you are right.
  • #9
  • Nov 6, 2007 12:09pm Nov 6, 2007 12:09pm
1:400 leverage is good if you know for sure..the market gonna go down..10 out of 7 times like in USD/CAD and you can build a nice pyramid with it..


but if you are a newbie you will most likely blow up your account many times..before you know how to use leverage effectivelly...

anyway the main issue is the amount of experience you have in any perticualr field..FOREX is no different...some are in a high state of resonance and some have fine tuned their minds to be SUCCESSFULL...it does not matter..if they use 1:400 or 1:50 leverage...Once you got the attitude right..the world is at your feet...all these mathematical equations are just secondary approach
  • #10
  • Nov 6, 2007 2:32pm Nov 6, 2007 2:32pm
Quoting spiderforex
1:400 leverage is good if you know for sure..the market gonna go down..10 out of 7 times like in USD/CAD and you can build a nice pyramid with it..


but if you are a newbie you will most likely blow up your account many times..before you know how to use leverage effectivelly...

anyway the main issue is the amount of experience you have in any perticualr field..FOREX is no different...some are in a high state of resonance and some have fine tuned their minds to be SUCCESSFULL...it does not matter..if they use 1:400 or 1:50 leverage...Once you got the attitude right..the world is at your feet...all these mathematical equations are just secondary approach
I hear people warning about using 400:1 but what's wrong with it if when you get in your stop loss is withing that leverage?
  • #11
  • Nov 6, 2007 2:38pm Nov 6, 2007 2:38pm
Quoting charlinks
I hear people warning about using 400:1 but what's wrong with it if when you get in your stop loss is withing that leverage?
Technically, if you use a reasonable stop and you risk a small fraction of your account there is nothing wrong with it. Most people including the original poster here wants it to overleverage a small account and risk a large part of their captial. That's when you get in trouble. If you trade responsibly you won't know the difference between 50:1 and 400:1.
  • #12
  • Nov 12, 2007 5:07pm Nov 12, 2007 5:07pm
Quoting philmcgrew
Technically, if you use a reasonable stop and you risk a small fraction of your account there is nothing wrong with it. Most people including the original poster here wants it to overleverage a small account and risk a large part of their captial. That's when you get in trouble. If you trade responsibly you won't know the difference between 50:1 and 400:1.
Exactly. I see so many times people bashing others because they use high leverage. It all depends on how much you are trading. Leverage can be great for a small account when still trading smaller trade size. Also, if you know what your doing with your stops in conjunction with your balance, then the leverage becomes irrelevant.

AH
"Your big opportunity may be right where you are now." Napoleon Hill
  • #13
  • Nov 12, 2007 8:32pm Nov 12, 2007 8:32pm
Lets all be clear, if you are using 400:1, you better know how to trade !!! And you better have some $$$s in your account. If you are starting at 400:1 with $ 300 in your account, well, better I just give you my address, send the money directly to me !!! Either way, I am going to get your pips and money...

Actually, I am more inclined to think that if FXCM offers 400:1, it is just another one of their successful ploys to get your $$$s in their pocket ASAP !!!

Common... we've all been there and done that with FXCM !!!
  • #14
  • Last Post: Nov 12, 2007 8:45pm Nov 12, 2007 8:45pm
Quoting mld
yes? is that true?
mld
You would receive a faster answer if you checked their website yourself.
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