What happened to broker’s leverage

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I’ve not been to forex for a long period
Now i want to back..  i see the leverage is decreased to 1:30 in all brokers
What happened? Can i trade again with leverage 1:500 or more again?
 
That's EU related.
 
Marco vd Heijden:
That's EU related.
You mean I can open account with 1:1000 or more in other regions?
 
Mahmoud Farajpour:
I’ve not been to forex for a long period
Now i want to back..  i see the leverage is decreased to 1:30 in all brokers
What happened? Can i trade again with leverage 1:500 or more again?

This is an ESMA directive in the attemp to calm down the market's turbulence.

You still have the possibility to trade with higher leverages if you are classified as "professional" instead of "retail" but in that case you will not be covered by any compensation schemes in the case of broker firm defaults. To be classified as "professional" you must demonstrate that you own certain patrimony as well as trading experience levels.


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