Market radar Checking the sessions…
Browser alerts
Your pairs and rate decisions, max 2 a day
FX Recap videos55 free videos
SubscribeDaily analysis
All technical analysis →Currency forecasts
Market data
Broker reviews
IC Markets
XM
Exness
FP Markets
AvaTrade
RoboForex
LiteFinance
IUX Markets
FXTM
Tickmill
Vantage Markets
Fusion Markets
Elev8
PepperstoneMost compared
XM vs ExnessExness vs IC MarketsXM vs IC MarketsIC Markets vs FP MarketsRoboForex vs IC MarketsExness vs AvaTradePopular matchups
XM vs AvaTradeExness vs RoboForexAvaTrade vs FP MarketsIC Markets vs LiteFinanceXM vs RoboForex
Exness vs IUXMore head-to-heads
Exness vs FP MarketsRoboForex vs FP MarketsXM vs FP MarketsAvaTrade vs IC MarketsRoboForex vs LiteFinanceAvaTrade vs RoboForexAsia
Africa
Forex in South AfricaBest SA brokersKenya CMA brokersM-Pesa brokersForex legal in Nigeria?Forex tax in KenyaMarket hours in NigeriaUnited Kingdom
Forex basics
Analysis & strategy
Topic guides
Prop trading
Trade calculators
All trade calculators →Risk & planning
All planning tools →Market data
Find & practise
All broker tools →The maximum leverage a retail trader can get on major currency pairs in 11 markets, from each regulator's own rules, next to what international brokers advertise.
Free to use with credit
SEC Nigeria's draft rules of 1 September 2026 would cap retail leverage at 1:400 on major pairs, 13.3 times the 1:30 limit in the UK, EU and Australia. The rules would also cover offshore firms serving Nigerians.
Read the Nigeria rules →Copy any line with its source in one click.
Retail leverage caps on major currency pairs range from 1:10 in Turkey to 1:400 in Kenya.
Source: FX Recap leverage limits, from each regulator's rulesNigeria's SEC proposed a 1:400 cap on major pairs in draft rules published on 1 September 2026, 13.3 times the 1:30 limit in the UK, EU and Australia.
Source: SEC Nigeria proposed rules, 1 September 202610 of the 14 international brokers in FX Recap's cost index advertise leverage of 1:1000 or more outside the UK and EU; the highest fixed figure is 1:5,000.
Source: FX Recap Broker Cost Index, from brokers' own pagesAt 1:30 a 3.33% move against a position wipes out its margin; at 1:400 it takes 0.25%, and at 1:5,000 just 0.02%.
Source: FX Recap calculation: 1 ÷ leverageWithin six months of ASIC's 2021 leverage order, retail clients' net losses fell 91%, from A$372 million to A$33 million a quarter.
Source: ASIC media release 26-239MREven under 1:30 caps, 70.1% of retail CFD accounts lose money on average at 16 UK- and EU-regulated providers.
Source: FX Recap CFD loss-rate tracker, from providers' risk warningsMinimum margin is 1 ÷ leverage. "Majors" are pairs of two of USD, EUR, GBP, JPY, CAD, CHF, AUD and NZD under ESMA, FCA and ASIC rules; minor pairs, gold and indices get lower caps. We list only caps we could read in the regulator's own rules.
| Market | Regulator | Max leverage | Min margin | Status | Rule |
|---|---|---|---|---|---|
| Turkey | Capital Markets Board | 1:10 | 10% | In force | Legality map |
| Hong Kong | SFC | 1:20 | 5% | In force | Legality map |
| Singapore | MAS | 1:20 | 5% | In force | Legality map |
| Japan | FSA | 1:25 | 4% | In force | Legality map |
| Australia | ASIC | 1:30 | 3.33% | In force | ASIC CFD order |
| European Union | ESMA and national regulators | 1:30 | 3.33% | In force | ESMA product intervention |
| United Kingdom | FCA | 1:30 | 3.33% | In force | FCA PS19/18 |
| Georgia | National Bank of Georgia | 1:50 | 2% | In force | Legality map |
| United States | CFTC, NFA | 1:50 | 2% | In force | 17 CFR 5.9 |
| Kenya | Capital Markets Authority | 1:400 | 0.25% | In force | LN 226 of 2017, reg. 19 |
| Nigeria | SEC Nigeria | 1:400 | 0.25% | Proposed | SEC draft rules, 1 Sep 2026 |
Status and regulators from our legality map (checked 13 October 2026); Kenya from Regulation 19(1) of the Online Foreign Exchange Trading Regulations, 2017; Nigeria from the SEC's draft rules. Markets with no published cap, such as South Africa, are not listed.
| Leverage | Margin needed | Move against you that wipes out the margin | Where |
|---|---|---|---|
| 1:10 | $10,000 | 10% | Turkey |
| 1:30 | $3,333 | 3.33% | Australia, European Union, United Kingdom |
| 1:400 | $250 | 0.25% | Kenya; Nigeria (proposed) |
| 1:5,000 | $20 | 0.02% | Offshore offers from IC Markets and FXTM |
Margin = position ÷ leverage. The move that wipes out the margin = 1 ÷ leverage, before spreads, commissions and swaps.
The 1:30 standard comes from ESMA's 2018 product intervention, which the FCA and ASIC followed. ESMA acted after finding that 74% to 89% of retail CFD accounts typically lost money. Our loss-rate tracker still finds 70.1% losing on average across 16 UK- and EU-regulated providers.
Australia has the clearest evidence that caps cut losses. ASIC says that within six months of its order, retail clients' net losses fell 91%, from A$372 million to A$33 million a quarter. Losses still topped A$458 million in the latest 12 months. The order expires on 23 May 2027; ASIC's consultation CS 64 proposes extending it to 2037 and closes on 9 November 2026.
Caps apply to the regulated entity, not the brand. 10 of the 14 brokers in our cost index advertise 1:1000 or more through entities outside the UK and EU, up to 1:5,000 (Exness: unlimited). The leverage a trader gets depends on which entity holds the account.
Published by the Securities and Exchange Commission on 1 September 2026. Proposed rules, not yet in force.
| Rule | Proposed |
|---|---|
| Major currency pairs (e.g. EUR/USD) | 1:400 |
| Minor and exotic pairs, indices, commodities | 1:300 |
| Cryptocurrencies | 1:2 |
| Professional clients | Up to 1:1,000 |
| Minimum paid-up capital, market-maker broker | ₦3.0 billion |
| Minimum paid-up capital, STP/ECN broker | ₦2.0 billion |
| Minimum paid-up capital, technology/platform provider | ₦5.0 billion |
| Negative balance protection for retail clients | Required |
Source: SEC Nigeria, Proposed Rules on Online Forex Trading and Contract for Difference (CFD). More in our State of Retail Forex in Africa.
Free to use, including commercially, with a credit to FX Recap and a link to this page (CC BY 4.0).
IC Markets
3:09
2:39
2:10
2:18
3:43
8:42
FX Recap, "Forex leverage limits by country", updated 31 October 2026, https://fxrecap.com/forex-leverage-limits
Method: caps are read from each regulator's rules; broker figures from our cost index. More in our press room.
1:30 on major currency pairs for retail clients, under FCA and ESMA rules. Minor pairs, gold and major indices are capped at 1:20.
1:50 on major currency pairs: CFTC rules set a minimum security deposit of 2% of the notional value for major currencies and 5% for others.
Of the markets on this page, Turkey, at 1:10.
The SEC's draft rules of 1 September 2026 propose 1:400 on major pairs, 1:300 on minor and exotic pairs, indices and commodities, and 1:2 on crypto, with up to 1:1,000 for professional clients. They are not yet in force.
Not for retail clients of brokers regulated in the UK, EU, Australia, the US, Japan, Hong Kong or Singapore. Brokers offer it through entities licensed in other jurisdictions.
Risk warning. Forex and CFD trading carries a high risk of losing money rapidly due to leverage. This page is information, not financial or legal advice.