Yeah, would advise all newbies not to fall for the leverage trap..higher the leverage, the faster your account will get wiped out especially if the trader is new to trading..we have all gone there, done that.
Brokers will suggest more leverlage to increase the pip's value so they will profit more from the spread. Using high leverage will wipe out your account should the trade (yes, you only need one bad trade) to move against you. It is a pure gable risking your entire investment on a single trade knowing that you do not have 100% success. Are you all new to the market? I use 1:5 leverage at any costs
Well, as to me I prefer to trade not very huge leverage. Maybe 1:200-1:500. It seems to me more convenient. And I feel that my money is safe when leverage not big. Because the huge leverage seems to me suspect.