I'm not sure how you guys are working out your numbers, you can never actually use the maximum leverage offered. Hypothetically though, trading Eur/Usd @400:1 on a USD account, a 1 pip spread would be 4% wouldn't it? It's all a bit of a non-issue anyway, a reckless gambler can still do a lot of damage with 10:1 let alone 100:1!