Not "anyone else" but mostly all of us active in this section will do or might have done leverage trading or so called futures trading. This is pretty common nowadays due to easily accessibility of such brokers. I personally will go for 5x leverage but think even that might be riskier sometimes. Yes, we do have an option to choose 125x or maybe up to 500x but that will just increase the changes of blowing our account in no time.

Leverage trading is quite risky as your complete capital is kept as margin and is at risk. Here you can earn 10x or can get liquidated which will leave you with nothing. I would recommend you to think wisely before going for a 1:500 account. This is just increasing your risk and shows your poor risk management.