Anyone trade currencies? I’m thinking about opening account (platform suggestions welcome), but I’m worried about the leverage: if you go in on 100:1 leverage, you can basically get your face ripped off – especially with short-term moves these days. So has anyone done it successfully? Any suggested readings? Thanks
Sorry, no answer here, but I’ll be following your thread as I am also interested in the topic. 100:1 with these days’ volatility means you can get rich pretty fast with a modest sum, or also loose it all overnight. 100:1 … can we even talk about strategy or is it like goign to the casino ??
You have two options: the FX cash markets and the FX futures markets. FX cash is traded OTC so you open yourself to counter-party risk. FX futures are traded on the CME so counter-party risked is eliminated. You can get more leverage in FX cash than futures. Liquidity is good in both.