so you are saying you don't want to make make super rich fast easy money? or whatever the joke is on this site lol
I'd love to, if it was real. And miguel, I deleted your post since it did not contribute to the discussion. If you wish to disagree, feel free. But attacking another user (in this case TraderZones) with no contribution to the thread will just find your post deleted. Thank you.
Hello everyone I appreciate the great feedback as well as the negative feedback which can potentially help us grow as a company with any response whether is it negative or positive. In response to traderzones post, I can respect his opinion as he is right 400:1 leverage is some pretty incredible leverage to trade with, as one poster earlier said maybe it is suicide. However there is a great deal of people who are looking for 400:1 leverage in the Forex industry and if one firm canât offer then we can, perhaps within the limits of there trading strategies 400:1 leverage makes sense to them, it may not make sense to you but this an entirely different person from you with a different idea. We arenât saying it is required to trade 400:1 leverage. We are simply advertising on a public forum for anybody who chooses to trade with this kind of leverage our brokerage firm simply can offer this. Lot of times brokerage firms will get negative feedback because they offer low margins for such volatile markets, and yes I do fully agree there are substantial risk involved. But that doesnât change the fact that you canât manage your risk properly with low margins. Whether margin is $500 for ES contract or if itâs $4,500, what is stopping you from depositing any amount of risk capital and trade 1 contract or setting a mental margin requirement for yourself to prevent over leveraging your account? I donât think itâs logical to point the blame at the firm because the client did not have enough discipline to properly manage his risk for his account. To say a client blew his account out because of low margins, in my opinion this is just another excuse to use for bad decisions and greed on there part.
I agree, their motive for advertising 400:1 is obvious, a bit like the bright lights of Vegas enticing the gullible and greedy out to make a fast buck. I realize a very high percentage of punters lose money in the markets but to be frank I don't have a lot of sympathy for them, whatever gives anyone the idea they can just wander in off the street and trade profitably?
Milltruck asked me a question, and I replied in a non-insulting manner. You need to do the same. Good trading.
I am not arguing that you shouldn't offer 400:1, as it is clearly a "product" in high demand (and you see a lot of forex traders - I use the word "trader" loosely - asking for it). If your competitors in the market place are offering it, I guess you should too. My only point is that the real upside to offering this insane amount of leverage is because you know - whether you admit it or not - that 99% of the people looking for that amount of leverage will come in, implode their accounts and essentially give you their deposits. No real trader in possession of their faculties would ever use 400:1. Ever.
There is a German shop, regulated by BaFin, that offers 1:700 leverage, on retail spot FX accounts. First time l saw it l vomitted a bit, but hey, each to their own
jkhek21, You mention institutional accounts and volume discounts, are these part of an ECN platform? If so, which one? A good deal of us on ET have no interest in MT4 venues and trade solely on ECNs.