Has anyone tried leverage in online Exchange centers?

[Anna.Tsolidoy]

Can anyone help me on this please? or have anyone had this experience with Kraken before?

These are the details of my trade:
leverage 5:1.
bought @ 1btc=3600 euros
sold @ 1btc=9200 euros

I got less money that what I spent. I did not get the 5 times buying power they are advertising in the site.

I have 2 questions:
What does leverage 5:1 mean in kraken?
You buy 5 times more crypto with your money? Or you spend 1/5 money for the same amout of cryptos?

I bought 0.16 btc spending 572.4 euros with leverage 5:1 at price of btc ~3600
I should get 0.8 btc for the same amount of money, or get 0.16 btc @ 114.48 euros. right?

[patapon49]

5: 1 means lever x5

also leverage fees are huge, often limiting gains on open positions over a long period

[Anna.Tsolidoy]

they are taking the fees every 4 hours..  but was not that my question,

Is anyone had the expirience of leverage in Kraken?