While high leverage like 1000:1 can amplify gains, it also increases risk significantly. Trading with a small account on such high leverage can lead to rapid losses. Always prioritize risk management and caution.
The higher the leverage, the more tempting it can be to quickly blow such a small amount of money into impressive amounts in a short period of time, which is often accompanied by a complete disregard for risks and a greater chance of quickly losing the entire deposit.