Help me choose between these two brokers please

Hi guys, yes another Leverage thread, I have read everything I can on it, but I think I understand it correctly, correct me if I'm wrong

Here it is : I swing trade Gold, use position sizing, risking 1% of capital per trade. So leverage does not change anything on what I loose/gain on any trade.

Now I have a bigger amount to trade, 50k euros.

I hesitate between this two broker :

I have XM with 1:500 leverage with 35/40 pips spread
and
FxPro UK with 1:22 leverage with 25 pips spread

They both reliable, regulated broker, the only difference is FxPro will need 6k of position margin to trade 1 lot XM will need ~250

But its not really important right, cause 1% risk is 1% risk, right ?

I dont plan to have many trade open at the same time, So I should go, if all else equal (fees, easy of withdrawal...) with the lowest spread ?

Thanx !

Hi pal,

What is 25pip spread on FXPRO?

that is the Spread on Gold at FxPro UK

I think FxPro is good, my own opinion.

not a lot of help from the pro :-(

after further consideration, I'm thinking this :

If I will ALWAYS risk 1% of total balance per trade, maybe higher leverage is actually a protection... It will protect me against flash crash, SL that does not trigger for any reason, with 1:22 Leverage I risk margin call in this case.

About the diff spread, I will give to XM 10 buck more for every lot traded. it can add up at the end of the year !

Any thoughts ?

Regardless of whatever leverage you are having, in my personal opinion, a stoploss is always important. I normally limit my margin within 500 pips for gold. Which means my margin is 5000%

25 pips for Gold XAUUSD is high. Currently (10 am GMT+3) IC Market spread is 2.0 pip on NO commission account.
You should see other UK brokers like www.atom8.com which is part of Vantage Prime now. They used to have low spread for gold.

If you have Hotforex in your country, I will strongly recommend that you use them.
They have a very tight spread and a low margin requirement for Gold.

With as little as 7 USD you can open a 0.01 position on Gold with Hotforex.
Do the maths.
But, that would be over leveraging on your 50K account.

On a bigger account, I recommend you dividing your equity by 20,000 to arrive at your position lot size.
It's way lot safer.

i can be your fund manager if you like and trade your 50 K for you if you wish

I have 0 trust on Xm so will definitely not suggest it to you..... try to deal and trade with banks not with scummy brokers. its your money, your choice.

Peperstone is best for gold...
Spread btw. 6 to 12

I have trading with Pepperstone on Raw zero account over a year excellent broker fast execution low spreads and on Gold no commission Best broker for me

Until and unless our surrounding have not worked with the said broker your should not trust them blindly as there are chances of your loss. So choose your broker wisely.