Forex and CFDs are leveraged products, and most retail accounts lose money trading them. This page says what that means before you read anything else on the site.
Leverage lets a small deposit control a much larger position. A $10,000 position opened with $100 of margin moves by $100 when the market moves 1% - which is the whole of that margin. The exposure decides your profit and loss; the margin only decides how much of the account was reserved to hold it.
A broker offering 1:500 or 1:1000 is not offering a better return. It is offering a larger position for the same money, and a shorter distance between an ordinary market move and a closed-out account.
Where negative balance protection applies, the account cannot fall below zero and the broker absorbs the shortfall. Where it does not, a market that gaps through your stop can leave you owing money. It is mandatory for retail clients under regulators including the FCA, ASIC and CySEC - and it is not universal. Several brokers on this site do not provide it, and each of their reviews says so.
Every position pays a spread, frequently a commission, and financing for every night it stays open. A position held for months can cost more in financing than the price move it was opened for.
Not a broker's, not a strategy's, and not a copy-trading leader's. A record of good results is a record, not a forecast.
We publish research about brokers. We do not know your circumstances, your income, your obligations or your tolerance for loss, and nothing here is a recommendation to trade or to buy any instrument. If you want advice, it should come from somebody licensed to give it in your own country.
Check which legal entity will hold your money and which regulator supervises it - both are in the account-opening documents, and both change by country. Use a demo account until placing, modifying and closing an order is automatic. And size positions against what you can afford to lose rather than against the maximum the platform will allow.