Cysec-regulated ForexMart has increased the maximum leverage rate it offers to 5,000:1, one of the highest available on the forex market, according to a notice published last week on the broker’s website. The offer applies to all ForexMart clients, regardless of the account they use.
Traders need to maintain an account balance of at least $1 to be able to take benefit of the new leverage offering.
ForexMart offers Standard and Zero Spread accounts for trading in forex, Bitcoin, spot metals, and contracts for difference (CFDs) on shares. The broker uses electronic communication network, or ECN, for order execution with access to liquidity providers with an instant execution with no dealing desk involved.
Such high leverage is not common in the forex world. ForexMart may be the only broker to offer 5,000:1 leverage. Two others – FBS and FxGlory, offer leverage of up to 3,000:1, while a single broker, Exness, became the only one to offer unlimited leverage after it launched the service earlier this year.
Leverage is a type of virtual borrowing traders can take from their broker. It allows investors to operate with higher amounts and to increase their profit, since they provide them with higher buying power, but it also presents higher risk. Margin rates indicate the minimum amount of own funds clients need to have in their accounts when using leverage.
ForexMart is a brand of Tradomart, former Fxco Trading, an entity regulated by the Cyprus Securities Exchange (CySEC). The broker services both retail and institutional investors.