Quote from swissie:
I'm looking for a forex broker that will do 400 or 500 to 1. I found a list on the "brokers" section at the top, however there are many forex brokers and few with more than a couple of ratings. I found some with good leverage but with one or two positive reviews (legit looking), and their operations seemed good.
With the less regulation in forex, there are many brokers. I have not found any large retail brokers with more than 50:1. I need at least 400:1.
Are there any suggestions? With the competition, I don't think there is one with more than 2-4 pips of spread on the majors?
I understand the risks with leverage, I'm just trying to find a reputable firm someone maybe used. Thanks for the input.
Pepperstone just came out with their new EDGE account:
That does 400:1, <0.5pip spreads on most majors plus a commission that keeps your total cost ~1pip.
Regulated by the ASIC and your funds are kept segregated at NAB or HSBC (depends on the currency your account is denominated in.)
If you're from the US:
Enjoy your 50:1 leverage. (Sorry. Can't get around it and going with a broker who's willing to defy CFTC/NFA is asking for trouble. You will not have anyone on your side if legal issues arise with the broker.)
Oanda's a good choice in the US.