9 Best High Leverage Forex Brokers in December2023
Trading forex can be exciting for beginners in the trading industry, but after a while, once they become experienced traders, they often find that they are ready to step things up a notch and try out something riskier. With increased risk, they typically also encounter higher rewards, which is a good mix to bring the excitement back into trading for them.
Trading with leverage is, therefore a perfect solution. However, in order to give yourself the best chance to earn higher rewards, you first need to find a proper broker. This is why we came up with a list of top 10 brokers that offer high leverage in a safe environment, and tick all, or at least most of the right boxes.
Best High Leverage Forex Brokers in the US Reviewed
After extensive research, we have come up with a list of top 10 best high leverage forex brokers for your convenience, where you will, hopefully, find at least one that fits your needs. Without further ado, here are the ones we can recommend.
1. AvaTrade — Top choice of a high leverage broker for expert traders
AvaTrade is a great choice of a high leverage broker for professional traders thanks to the fact that it has plenty of advanced trading tools, a range of platforms, and it operates in multiple regions around the world. When it comes to its leverage, it differs from one country to another, with the maximum leverage ratio being x400 for forex, x200 for commodities, x20 for ETFs, and x10 for stocks.
Other than that, AvaTrade also offers forex options, which makes it one of the rare few brokers that do. However, while leverage for forex is x400, when it comes to forex options, it is only x100.
- Up to 400:1 leverage
- Low spreads
- Heavily regulated
- Offers leverage for forex options trading
- Multiple trading platforms
- There is a margin fee
71% of retail CFD accounts lose money with this provider.
2. Libertex — Grants professional traders a leverage ratio of 600:1
In the third spot, we have a broker that has been around for nearly 25 years, called Libertex. This company is among the oldest high leverage forex brokers in the entire industry, and it allows x30 leverage for forex pairs if you are a retail client, and up to x600 leverage for professional accounts.
It is regulated by CySEC, and that requires it to limit its leverage for retail clients, although x30 leverage is not really that bad.
Another thing to note is that the company offers three trading platforms, including MT4, MT5, and its own platform. Regardless of which one they choose, users will have access to 51 trading pairs, all of which can be traded with x30 leverage. One more advantage worth noting here is that its minimum deposit is extremely low, and it only requests you to deposit a minimum of $10.
- $10 minimum deposit
- x30 leverage for retail accounts and x600 for professional clients
- Licensed and regulated by CySEC
- Offers three trading platform
- Offers a fairly low variety of products
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74,5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
3. Skilling — Offers a high leverage ratio of 500:1
Skilling is another very reliable platform, and this one has been around for only five years. However, even though it is relatively new, it quickly became a go-to place for forex and CFD traders who are interested in leveraged trading. The reason for this is the fact that the platform offers x500 leverage on major currency pairs and indices, and around x200 for minor ones, which is still massive leverage compared to others on this list.
Gold also shares this same x200 leverage, while commodities and minor indices have access to x100 leverage. Stocks and cryptocurrencies have a significantly smaller one, however, x10 for stocks and x5 for crypto.
One thing to note, however, is that Skilling’s financial services are somewhat different for European traders, with x30 leverage for retail accounts, and x200 for professional ones.
- Over 800 financial instruments in total
- Regulated by FSA and CySEC
- A good place for newcomers and professionals alike
- No trading fees only spreads
- Extremely high leverage for certain asset types
- Offers copy trading
- No ETF trading is available
Your capital is at risk when trading CFDs with this provider.
4. Vantage FX — Top forex broker with leveraged trading
Up next, we have VantageFX, which isn’t as heavily regulated as the others, which is why it can offer leverage of up to x500. In addition, it has an entire range of trading platforms, and it is rich with various features and tools that can be extremely useful to traders from all over the world.
This broker has around 40 currency pairs, but also indices, energy, commodities, metals, shares, and more, totaling around 300 instruments.
It has customer support that is available 24/7, zero spreads, negative balance protection, and many other advantages that make it not only attractive to traders but also safe and reliable. It should also be noted that it features a 50% welcome bonus for new clients, and it has a variety of types when it comes to its trading accounts. An account type known as a Swap-Free, even allows users to engage in leveraged trading without having to pay overnight position fees.
- Offers a variety of trading accounts
- Zero spreads
- x500 leverage
- 50% welcome bonus
- Not regulated by the top-tier regulators
Your capital is at risk.
5. FinmaxFX — Offers x200 leverage for retail traders
Halfway down the list, we have FinmaxFX, which is another excellent option if you need a high leverage forex broker with a number of other advantages. This is an international brokerage company that offers x200 leverage when it comes to forex and commodities, and x100 leverage for energy instruments, which are also available on its platform.
Stocks, on the other hand, only have access to x20. Finally, the broker also offers crypto trading with leverage, with a ratio of only x10.
The company is regulated by VFSC and IFMRRC, which have are not as strict as the likes of FCA or CySEC, but still reliable. Furthermore, the broker has been operating since 2015 with no issues, so it is perfectly safe and reliable. If you choose this one, you will have access to around 50 currency pairs, and 400 financial instruments, in total.
- High leverage of x200 for FX trading
- Supports MT5
- It offers plenty of tools, features, and an extensive education center
- Supports automated trading
- It has inactivity and withdrawal fees which are somewhat high
- Not licensed by the top regulators
Your capital is at risk.
6. Plus500 — User-friendly broker for high leverage forex trading
Next up, we have Plus500 — a popular broker that allows users to trade forex with an x30 leverage for retail accounts, and x300 for professional accounts. The broker is also regulated by top-tier regulators, it offers access to over 70 forex currency pairs, as well as additional markets, including shares, commodities, options, indices, ETFs, and cryptocurrencies.
The broker also allows users to trade CFD options, although with a small leverage of only x5. So, while it is not the most advanced of the top available platforms, it is certainly good enough to be considered. It is also very easy to use, and it all makes it a fairly decent entryway for new traders seeking exposure to leveraged trading.
- Very user-friendly
- Offers FX options
- Regulated by top-tier regulators
- Retail accounts have access to x30 leverage, while professional ones get as much as x300
- Great mobile app
- A variety of available assets
- Not the most advanced platform
- High overnight fees
72% of retail CFD accounts lose money.
7. Forex.com — Offers more than 90 currency pairs for forex traders
Forex.com is one of the most popular and most trusted high leverage brokers, not only in the US but also globally. The company offers over 90 currency pairs, which is already one of the major reasons why users tend to go to it. On top of that, however, it also features very competitive spreads, mostly because it is an STP broker that has a DMA account for active traders.
It primarily functions as a forex broker, so it has a lot of solutions and trading tools specifically created for Forex traders. However, it also has access to over 4,500 markets, including commodities, indices, cryptos, stocks, and even ETFs.
- More than 4,500 markets
- Licensed and regulated by the US authorities
- Over 90 FX pairs
- Among the most trusted online brokers
- Multiple trading platforms
- Has a mobile app
- Pricing structure lacks clarity
There is no guarantee you will make money with this provider.
8. FXTM — The highest leverage of 1000:1 for all traders
Last, but not least, we have FXTM — a very, very high leverage broker that absolutely dwarfs most others on this list. FXTM is the best choice if you are looking for CFD and/or forex markets, with leverage of x1000, combined with some of the lowest spreads in the industry.
Also, it should be noted that this broker does not reduce leverage for micro accounts — everyone can trade forex majors with x1000 leverage, forex minors with x500 leverage, forex exotics with 50 leverage, and spot metals with x500 leverage.
The company is very competitive, especially when it comes to spreads. Some of the biggest forex pairs come with zero spreads, while others have only 0.1 pip, or so. This makes it one of the most cost-effective platforms, while also being one of the platforms with the greatest potential to earn through forex trading.
- Up to x1000 leverage
- Zero spreads for some assets, tight spreads for others
- Low minimum deposit
- Low overnight fees
- Lower selection of instruments compared to others
74% of retail investor accounts lose money when trading CFDs with this provider.
High Leverage Forex Brokers Fees & Leverage Comparison
The following table compares forex broker fees of the top high leverage brokers in 2023:
Brokers Professional accounts Retail Accounts Fees Libertex 600:1 30:1 Commission-free VantageFX 500:1 500:1 Commission-free FinmaxFX / 200:1 Commission-free Plus500 300:1 30:1 Commission-free Skilling 500:1 / 200:1 500:1 / 30:1 Commission-free AvaTrade 400:1 400:1 Commission-free Forex.com / 50:1 Commission-free FXTM 1000:1 1000:1 Commission-free
High Leverage Explained
While you may be excited about the idea of heading to one of these platforms and trading with leverage right away, always remember that gathering information is your top priority at all times. With that said, let’s first explain some details regarding high leverage.
What is Leverage in Forex Trading?
Simply put, leverage in currency trading refers to the money that the trader borrows from their broker in order to invest a greater amount than what they wish to use themselves. This is a good way for traders to preserve their own capital, by using only small amounts of their own money and borrowing the majority of it from the exchange.
Naturally, there is a cost to this privilege, as the broker will charge traders an interest rate on the funds that they have borrowed. This is called a swap fee, or sometimes the overnight fee.
What is Considered a Good Leverage Ratio in Forex Trading?
Generally speaking, there are multiple factors that decide whether or not a certain leverage ratio can be considered good. For example, the higher the leverage, the more money is at stake, which is more stressful, as well as more risky, as you have less room for error and greater chances of losing the money. Of course, risk-lovers would say that it is more exciting, but not everyone feels that way about it.
In other words, each trader needs to decide which leverage ratio are they comfortable with. In addition to that, traders also need to decide on a trading strategy and use a leverage ratio that they are comfortable with, and it fits their strategy. Lastly, there is a matter of the market trading conditions that traders want to trade-in. For example, trading crypto is extremely risky even without leverage, which is why most brokers do not offer particularly high leverage for this market. Forex has less volatility, and so less risky, so higher leverage can be used.
Why Leverage Trading is Beneficial?
Leverage trading is beneficial because traders get to use greater amounts of money without that being their own money. As a result, their rewards are much larger if they trade right, while the risk on their own, personal wealth is reduced. Leverage can be a great tool for traders, provided that they use it correctly. But, always remember that the risks grow alongside the reward, so the greater the leverage ratio you use, the smaller the room for mistakes.
Tip For Trading With High Leverage
- Use trailing-stop order
- Use other risk management tools that your broker of choice offers
- Understand the value of a pip before entering a position
- Use a risk-reward ratio
- The high-leverage ratio should only be used for short-term trading, while low leverage ratio can be used in long-term investments
How To Get Started With A High Leverage Forex Broker
Once you feel confident about your understanding of trading with leverage, you should start by opening an account with a broker you like the most. For our guide, we will use AvaTrade but note that the procedure is simple and rather similar on other platforms, as well.
Step 1: Open a Trading Account and Verify Your Identity
Start by opening an account on AvaTrade by filling out the simple registration form.
After filling out your details, you will also have to provide two forms of ID that can be used to verify your account.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
Accepted forms of ID include a passport, drivers’ license, birth certificate, recent utility bill or bank statement. One form of ID must confirm your address and the other must confirm your age.
Step 2: Deposit Funds
Once your account is created and verified, it will be time to deposit some funds into it. This is also a very simple process, and all you need to do is click on the Deposit button on the bottom left side of your screen and enter the desired amount and payment method (popular ones such as debit or credit cards are available too).
Step 3: Practice Your Leverage Trading on a Demo Account
Before you start using your money in various trades, however, it would be good to first get familiar with AvaTrade and the way its platform works. The best way to do this would be to use its Demo account for trading. This is a practice account that grants you fake money that you can use in a simulation of the market.
That way, you can see how your trades may end up going in a simulated situation, which reflects the market situation and shows you exactly what would have happened to your funds.
Step 4: Start Trading with Leverage
Finally, once you feel like you are ready, you can start trading with leverage on the live market. It is recommended that you start carefully, and trade with low leverage at first until you gather more trading experience and feel more comfortable with raising the stakes.
Trading with leverage can be extremely beneficial and profitable when it comes to forex, but also very risky, so it is recommended that you do it with as much care as possible. Be patient, take your time, and test things out in the Demo account before trying them out in live markets.
As for which broker to choose, we have provided a list of top brokers that traders around the world are using, and have very positive experiences with. But, in the end, it is all about your personal skill, while the characteristics of your chosen broker can only help out a boost your profits slightly more.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
What are the pros and cons of high leverage trading?The biggest advantage of high leverage trading is that it can significantly increase your profit during trades. The biggest disadvantage, however, is that the risk is also extremely high, and your chances of losing money due to a mistake are just as high.
How do forex brokers provide leverage?Most brokers function as middlemen between the trader and the interbank market, and since foreign exchange market pairs usually fluctuate at only 1% in an intraday period, brokers are typically able to manage the risk of all traders’ profits and losses, while providing clients with high leverage.
Do Forex brokers charge a fee for leverage?Yes, they tend to charge so-called overnight fees that traders have to pay in order to trade with borrowed capital. Some brokers also have fixed margin fees, so watch out for that, as well.
Which broker has the highest leverage?Based on our research, the highest fee of 1000:1 is at FXTM.
Can I trade cryptocurrencies with leverage?Yes, cryptocurrencies are also supported by a number of brokers, although with leverage that is often extremely small compared to leverage available for FX pairs.