500:1 account

[TESY]

I am going to close my 20:1 account and go to a new broker that has 500:1 on BTC/USD. That is a 25x advantage. Does anyone else here do leverage trades on BTC/USD?

500:1 is some serious leverage
Personally I stick to much lower levels because BTC can swing hard in both directions and wipe you out fast not saying it can’t be profitable but the risk is on another level compared to 20:1

[beveryu778]

I am going to close my 20:1 account and go to a new broker that has 500:1 on BTC/USD. That is a 25x advantage. Does anyone else here do leverage trades on BTC/USD?

Leverage trading means futures trading or margin trading but the only futures trading where you can take high leverage is 150x for Bitcoin which Binance offers but you will get higher leverage facility on other exchanges like MEXC but I think 150x is huge risk so it is never logical to trade with higher leverage. In terms of leverage trading maximum 5x is standard but if you use more leverage than that then it will be an access which will very quickly reduce your balance to zero. And you will not be able to control them in any way. So avoid taking high leverage.

[Pinemarten]

Thank you for clarifying about the perps long. I may throw $4,000 at bitcoin perps long, as soon as the XRP that I bought gets back to the $4k I paid.

As an update to my leveraged accounts:

The 20:1 has 43 x 0.01 longs from 122557 down to 114373. AI can read my .htm account statement; and calculates that at ~350% margin level, $3,490 margin with $12,000 equity; bitcoin would need to drop to $92,445.22 before I get margin calls. The new 200:1 account has over 3000% margin level, $535.75 margin with over $16,000 equity.

$3490 x 20:1 = $69,800 in longs.

$535.75 x 200:1 = $107,150 in longs.