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High leverage serves a rather specific need in Forex trading. Here is the list of reasons for you to open account with broker offering 1:1000 or higher leverage:

  • You need to open big positions with small balance size.
  • You need to open a large number of smaller trades that sometimes have to be on concurrently.
  • You are using tight stop-loss with prudent risk management — your risk tolerance would allow you to open bigger positions unless limited by the margin requirement due to the broker's low leverage.
  • You are copying trades or following signals of a strategy that requires high account leverage.