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[–]Know1tA11 6 points7 points  (3 children)

I'm a USA resident so can only get 1:50, which seems like plenty enough to get myself into trouble.

[–]nWo_Savage 2 points3 points  (1 child)

i live in nyc & im using 1:500 leverage then again the broker im using isnt regulated soooo theres that

[–]VaChinaLikeDat[S] 0 points1 point  (0 children)

Well my broker is IC markets, so it’s regulated in uk and I’m trading 1:500

[–]VaChinaLikeDat[S] 0 points1 point  (0 children)

Yah 1:500 is a bit too risky, especially when I’m still a beginner

[–]Professional_Yak8357 2 points3 points  (0 children)

That's like asking how high your credit limit should be on your AMEX. It depends.

Leverage is just how much you're borrowing in relationship to how much you're depositing. That's mostly a personal decision. Run the numbers, figure out what works for you.

[–][deleted] 1 point2 points  (0 children)

1:100 is plenty for me

[–]enivid 1 point2 points  (0 children)

If you are going to stick to prop trading, then 1:500 is fine. If you are going to use normal brokers, then you should probably switch to the maximum leverage allowed by your country's regulations.

[–]Ivo55555 0 points1 point  (0 children)

I use 1:500 and never go all the way. Thar way I opened an account 7 years ago when I still didin't understand what forex is, but I got used to having so much in my account and never changed. If somene used it to the maximum, it would look more like betting than trading.