Compare the 5 best forex brokers with high leverage in 2024

There’s a lot at stake when you use leverage in any trade. With so much on the line, you’ll need a forex broker that fits your needs. This guide picks out the best forex brokers with high leverage.
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Updated: Dec 27, 2023
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% 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.

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This beginner’s guide explains how to find a forex broker where you can trade with large amounts of leverage. Find out which brokers offer leverage, how to choose one, and get your key questions answered.

Best high leverage forex brokers overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account

What are the best high leverage forex brokers?

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The options below are our top rated forex brokers with high leverage. Sign up by following one of the links or keep reading to learn more about trading forex with high leverage brokers.

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1
Min. Deposit
$ 100
Best offer
User Score
10
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% 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.

2
Min. Deposit
$ 10
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

3
Min. Deposit
$ 0
Best offer
User Score
9.0
Open a free account in minutes
Go global with fee-free foreign exchange
Finance tracking made simple
Start Trading
Payment Methods:
Credit Card, Debit Card
Full Regulations:

Top 5 high leverage forex brokers, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% 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.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

What is high leverage forex trading?

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Leveraged trading involves putting down a small percentage of an investment’s total cost as a deposit, and borrowing the rest from your broker. This lets you make much bigger trades, and is also known as trading on the margin.

Leverage is a vital part of forex trading. The daily price changes in currency pairs are so small that all forex traders use leverage to magnify the size of each trade.

How do you trade with high leverage? 

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When you use leverage, you’re placing a bet that might be five, 10, or even 100 times larger than the amount of money you’re actually putting down yourself. If you’re trading at 100x leverage, the $1,000 you use to fund your account can enable you to make a $100,000 trade.

We recommended setting up a trading account with a high leverage broker and learning to trade first. Use a forex demo account to test your skills and trade forex with virtual money before you do it for real.

What’s the maximum leverage on forex trades?

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Leverage is capped at 30:1 for retail traders in the UK & EU, and 50:1 in the USA. The limits on maximum leverage are put in place by law to protect currency traders from the significant risks of trading with leverage.

Professional traders can access significantly more leverage through regulated brokers. The highest leverage available is 500:1, but this is usually only available on major currency pairs and you must meet certain criteria before you can access it.

The criteria includes things like depositing a certain amount, meeting minimum volume requirements, and proving that is your occupation.

What should I look for in a high leverage forex broker?

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For the most part, the same thing that you should expect from any forex broker: low fees, top-tier regulation, and a wide variety of currency pairs. However, you also need to consider available leverage and the margin requirements. Here is a quick summary of what to look out for:

  • Find a regulated platform – In the US, the the best high leverage brokers are regulated by the Securities and Exchange Commission (SEC). In other countries, different bodies are responsible for regulation. Wherever you are, make sure the broker you select is properly regulated by the appropriate government body.
  • Find a broker that offers lots of leverage options – You want to be able to access the maximum leverage possible in your jurisdiction to give you the most options to craft a trading strategy. Most forex brokers offer the highest leverage possible, but make sure it offers 30:1 or 50:1, depending on where you live.
  • Variety of payment methods – Different brokers will accept different methods of payment. Although this form of trading only requires you to put down a fraction of the total amount for each trade, you do still need to make sure your account is adequately funded. Many forex brokers accept PayPal, for example, along with lots of other digital wallets.
  • Suitable deposit and withdrawal limits – Pick a high leverage forex broker that suits your deposit and withdrawal needs, based on the level of risk you want to take on. Some forex brokers will allow you to start with an initial deposit of just a few pounds.
  • Good reputation – Forex brokers build up reputations (good or bad) based on a combination of user reviews, media coverage and awards. Take time to do some research into the reputation of any high leverage forex broker you’re interested in using.
  • Design and ease of use – Trading with leverage is risky enough as it is. Fumbling around on a trading platform that’s overly-complicated and difficult to navigate certainly doesn’t help. Choose a platform that’s well designed and easy to use.
  • Variety of currency pairs British Pounds, U.S. Dollars, and Euros form the backbone of the foreign exchange market. Nonetheless,  there are more than 180 different currencies in the world. If you want to branch out beyond the major currency pairs, find a forex broker that will facilitate trading with the entirety of the forex market.
Choose a high leverage forex broker

Methodology: How we choose the best high leverage forex brokers

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find foreign exchange platforms that offer a beginner-friendly, secure trading experience, with reasonable leverage at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each high leverage forex broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual brokers to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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Sources & references
Risk disclaimer
Harry Atkins
Financial Writer
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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.