With a growing number of Forex brokers offering high leverage, there are many options for traders to choose from.
This article offers a detailed guide to help you select the broker. These brokers are reviewed based on leverage, trading platforms, security, fees, reliability, and more.
Best High Leverage Brokers
Here are the top Forex brokers with high leverage available. These have been reviewed based on trading platforms, available currency pairs, security, reliability, trading fees, and more. This is our selection…
- Pepperstone – Best Broker With High Leverage Overall
- AvaTrade – Best For Leveraged Forex Trading
- FP Markets – Low Fee High Leverage Brokerage
- eToro – Best for Product Offering
- Interactive Brokers
1. Pepperstone – Best For High Leverage Overall
Pepperstone is an Australian company that provides Forex traders with great leverage levels. US traders get access to 50:1, while traders in ASIC jurisdiction have 500:1 leverage.
Pepperstone is known for its selection of premium third-party trading platforms. This includes MetaTrader and cTrader. Traders gain access to a range of useful trading tools.
|Low non-trading fees|
|No deposit and withdrawal fees|
|Access to third-party trading platforms|
|Great customer service|
AvaTrade has built up a solid reputation over the years. It offers traders access to a wide range of 55 different Forex currency pairs and leverage of up to 400:1.
Opening a Forex account through AvaTrade is fast and easy. There are no fees charged for deposits and withdrawals. It offers user-friendly and diverse research and educational tools. Read more in our in-depth AvaTrade Review.
|Wide range of currency pairs||High inactivity fees|
|Easy account opening process|
|Free deposits and withdrawals|
|Great research tools|
3. FP Markets
FP Markets offers its clients leverage of up to 500:1. Its low Forex trading fees make it an ideal choice for many traders.
The account opening and deposit processes are quick and efficient. There is a range of excellent educational tools, such as e-books and demo accounts.
The product portfolio is limited to Forex, CFDs, and cryptocurrencies. This might be limiting for traders wanting a diverse portfolio.
|Low Forex fees||Limited product portfolio|
|Easy and fast account opening|
|Quick deposits and withdrawals|
Disclaimer: CFDs are complex leveraged derivatives that come with a high risk of losing money rapidly. 67% of retail investor accounts lose money when trading CFDs with this provider. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money. eToro USA LLC does not offer CFDs, only real Crypto assets available.
Although not the highest leverage broker on the list, eToro is still highly recommended for Forex traders. This firm offers leverage of up to 30:1. It is particularly great when it comes to copy trading.
The product portfolio is limited to Forex, CFDs, and cryptocurrencies. This might be limiting for traders wanting a diverse portfolio. eToro offers web and mobile trading platforms that are easy to navigate and use. Traders have access to a broad range of trading strategies to copy. This includes forex, CFDs, and cryptocurrencies.
eToro is pricey when it comes to trading forex and CFDs though. Also, eToro’s research tools are limited.
|Copy Trading||Forex and CFDs can be a bit pricey|
|Cryptocurrency tools||Limited research material|
|Ideal for beginners|
72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500 is a clear winner for Forex day trading. It offers leverage levels of up to 300:1.
Plus500 gives you a way to test out Forex trading. It offers tight spreads and free deposits and withdrawals. The strong 24/7 customer support is a finishing touch for those wanting a seamless trading experience.
This brokerage has a notable lack of educational resources and research tools. New traders will have to find additional resources elsewhere.
|Leverage Levels||Educational and research tools|
|Intuitive mobile trading app|
|Fast order execution|
6. Interactive Brokers
Interactive Brokers caters well to experienced active traders, with levels of up to 400:1 offered.
The brokerage offers very efficient order execution, thanks to its IB Smart Routing technology.
Its mobile trading platform is well supported across all devices. Beginners may find it tricky to use as it is aimed at experienced traders.
|Leverage offered||Not easy for beginners to navigate|
|Fast order execution|
|Wide range of securities available|
|Offers fractional shares|
|Customizable alerts on the trading platform|
Forex Capital Market (FXCM) is another great option for experienced Forex traders. This broker offers leverage levels ranging from 1:50 to 1:500.
This brokerage supports several third-party trading platforms such as ZuluTrade, and MetaTrader4. This platform variety gives you access to an abundance of drawing tools and technical indicators.
A downside is the broker’s inactivity fees, but this only applies if your account is inactive for more than a year.
|Leverage levels||CFDs only|
|Supports various third-party trading platforms||Expensive inactivity fees|
|Well-established and reputable broker|
|User-friendly mobile trading app|
|No commission and tight spreads|
Over 70 forex pairs to choose from, Forex.com gives US traders 50:1 leverage on major currency pairs. These include EUR/USD, EUR/CAD, and USD/CA.
Forex.com offers a range of account types to suit different trading styles. This broker offers everything you need from low Forex fees to technical research tools.
On the downside, it has a limited range of financial assets. The desktop trading platform is not user-friendly.
|Low Forex fees||Limited product portfolio|
|Great variety of currency pairs||Outdated desktop trading platform|
|Diverse technical research tools|
HYCM uses the premium MT4 trading platform, offering leverage of up to 500:1. The broker offers excellent trading conditions and great liquidity.
You can access levels of up to 500:1 through HYCM, depending on where you live and which currency pair you’re trading. Account minimums with HYCM may vary depending on your base currency and the type of account you open; typically, you need $100 to $200 before you open an account.
You can customize your account levels with varying fee structures to fit your risk tolerance and trade frequency. You’ll also find a range of education and research tools.
|Leverage levels||Inactivity fees|
|Access to a range of trading platforms|
|Low Forex fees|
|Great educational tools|
How to pick a brokerage account with leverage
There are a few important things to pay attention to when choosing a broker.
It’s important to choose a broker with leverage limits that suit your trading style. US brokers are limited to 50:1 leverage. International brokers can trade with leverage of up to 500:1 on most major currencies.
Fees and Commissions
You should understand all the fees charged by your broker before opening an account. Forex brokers make money either from commissions or spread, or both. We researched Forex Brokers offering the lowest bid-ask spreads or zero spread accounts.
Account and Trade Minimums
Account minimums vary from broker to broker, while some require no account minimum at all. The amount needed to initiate a trade will also vary.
Many brokers offer clients their own trading platform software. Others might offer access to popular platforms like cTrader and MetaTrader4. Make sure you choose a broker with the right trading tools to suit your trading needs.
Leverage Restrictions & Regulation Worldwide
Leverage involves a high potential risk to lose money. This is why financial jurisdictions and authorities take necessary measures to limit allowed levels. Different authorities have different regulations, so you need to check for your specific jurisdiction.
The current maximum for leverage levels in the US is 1:50, while the European broker under ESMA is allowed only 1:30. On the other hand, Australian regulator ASIC does not restrict levels. Brokers with ASIC licenses may offer leverage up to 1:500.
Leverage and Margin Explained
Leverage refers to the ratio of borrowed money used to initiate a trade. It means that you only need a small amount of capital to open a position. This allows you to borrow large sums of money from your broker which you will have to pay back.
Margin is the amount of money that a trader needs to open a trade. When it comes to leverage in Forex trading, you only need to put forward a percentage of the full value of the position to open a trade.
Leverage gives you more opportunities to diversify your trading portfolio. It allows you to operate with larger trades volume and currency pairs through a smaller initial balance.
While this leads to higher potential returns, it increases your risks of losses at the same time. If your trade goes badly, you will lose your capital and still owe your broker the borrowed leverage money.
The leverage level offered by a broker is usually shown as a ratio. It shows the particular percentage of the total trade volume that the trader needs.
For example, a leverage ratio of 1:100 requires the trader to only have 1% of the total trade volume. If you have a margin deposit of $100, you can initiate a leverage trading position of $100,000.
Restrictions & Specifics In the USA
There are strict regulations on Forex trading in the US compared to most other countries. The National Futures Association (NFA) is the financial body that imposes leverage limitations on US brokers.
Leverage is limited to 1:50 and products like CFDs are completely illegal. This means that if you have a 1$ account balance then you can open a trade with 50$.
On the other hand, countries like Australia have no restriction on leverage. This puts Forex traders in the US at an obvious disadvantage, but there are still many great broker options out there.
What is 1:500 leverage?
Leverage of 1:500 means that for every $1 of your capital, you will receive $500 to trade from your broker. This is a loan from your broker that you will need to pay off. Brokers extend this line of credit to their clients for trading on the Forex markets.
What is 1:1000 leverage?
Leverage of 1:1000 means that for every $1 in your account, you get access to $1000. If you have $10 in your trading account then you will have access to $10 000 for trading. This is a loan provided by your broker that you will have to pay back.
What is the highest leverage available?
Leverage in Forex trading is often as high as 1:500. Some brokers may even offer leverage of up to 1:1000. It’s important to be aware of the financial risk involved, especially with these leverage levels.
Which is the best leverage in Forex?
The best leverage in Forex is always the level that you feel most comfortable with. If you don’t like high-risk trades, then it’s best to choose a lower level of leverage such as 1:5. With such risk involved, you need to be confident in your trading strategies.