If you ask us is it possible? YES, it is possible, more leverage means more profit (If it was a successful trade). Also if the trade is not moving as you predicted then loss also ‘a lot’ – no wonder if wipes all your capital in single wrong trade.
Nothing comes easy. We would suggest never go more than 1:200 Leverage. But with proper planning and execution – the probability of achieving the target is immensely high!
For Starting forex trade better do not invest your hard earned money at the beginning.
Open Demo account in any trading platform and try trading for at least a month, Study the market after gaining confidence then invest your capital to make profit. (To open a demo account – google for forex demo account you will get 1000s)
There are some trading platforms gives you something around 25$ – 30$ for free for registering an account. You can try those as well! (Again google for free forex credit or no deposit bonus) or ask us we will suggest best available broker
As you are a started better follow a successful traders on twitter, telegram this would help you to understand forex movements better. Try forextrade1 and our Group
WHERE TO CONTACT US
Website : www.forextrade1.com
Twitter : twitter.com/forextrade11
Telegram : telegram.me/ftrade1
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Skype : forextrade01@outlook.com
Mail ID : info@forextrade1.com