It's called a Foreign Money Market Account, crazy. That is what you effectively get. And, at a time of rock bottom interest rates. You are much better off starting a money changer booth at an Airport to make a big spread.
we have very different mindset. I want to trade with as high leverage as possible. because I want to put as little money as possible into my trading accounts. and I want to earn tons and tons of $$$ with the little money I have in my trading accounts. And I have absolutely no fear of trading beyond what is allowable based on my trade plan. I am still searching for brokers that can give me extremely high leverage. anyway, do choose a broker that suits you.
Thanks for your kind reply. You said in this post that you want to earn tons and tons of $$$$ with little money, is it possible to earn a lot of money with little investment and become rich quickly because most of the traders lose their money quickly in Forex trading?
I talked about leverage in previous post. In general, most traders can't make it. trading is actually not for everyone. failure rate is probably ~ 90%. I trade various futures like index, long term bonds, oil, copper, main currency, soft ... futures. there are some futures which I rarely trade because it is not that good for day trading (eg corn, soya, wheat, hog, palm oil ...) there are some futures which I might trade occassionally due to its untrendiness or poor day range (eg currency, gold ...). and there are futures which I trade everyday (eg index futures ...) so pick and choose those futures that give you higher chance of success.
Honestly, I always prefer a broker that provides high leverage since that increases the margin and possibility to earn.
If all you want is extremely high leverage,this is the one for you: https://fxglory.com/ 1:3000 leverage. But its spread on euro is 2 pip.So trading cost is high. I think 1:500 leverage is more than enough. This one has lowest spread: spread on euro is 0.1 pip. https://coinexx.com/?franchiseLead=MzkxNjg5
I have never heard a FX broker that does not offer leverage/margin. Supposed you do find such a broker, then you can't short in such an account. Is that what you want ? The right solution is to have a leverage FX broker, calculate how much to trade if you do not use leverage, and always trade with that amount.
I don't see how high leverage increases the possibility to earn. I use Forexchief that offers 1:1000 leverage, but that does not mean if I use it, I'll get more winning trades. Your strategy is what increases your possibility to earn. Leverage only helps you increase the volume of your trade, which could affect you positively or negatively.
That is exactly the way to look at it. Leverage is a tool - it allows us to take our wretched little savings and maximise their earning potential - but only if you have a consistently successful strategy. High leverage does not hurt - its the losing strategy that hurts.