What is the best leverage to use in forex for a $10 account balance?

The use of leverage for me, depends on your expert level. If you are a beginner with a $10 account, then my guess is you don't yet have the skill to manage high leveraged trading and you should stick to a 1:100 leverage till you get more hands-on trading experience.

However, if you are a expert professional trader you could go for higher leverage up to 1:500 because I will assume you understand the risks and you also have a strategy you have tested and that works for you most of the time.

I will speak from my own experience. I used to use up to 3000x leverage on my $10 account but I sustained a lot of losses & I was always exiting trades prematurely because the losses were too big. Now in hindsight, I realize I should not have used so much leverage.

I now trade with a leverage of 500x on my $10 account and I noticed my losses are lower and I now spend more time in the market without getting stopped out which gives me time for the market to move in my favor.

So, for a $10 account I use a 500x leverage on a 0.01 lot size.

This is most certainly a dilemma because when you trade small account like $10, you want the high leverage for bigger profit right? But this is risky so you can blow your account easily and even get discouraged to maybe quit forex trading permanently.

For $10 account, you should make do with a little leverage about 1:100 can be okay. With this, when the market moves against you, the losses are smaller so your boat does not sink.

With big leverage, when the market is against you; the losses are unbearable quite big enough to sink your boat.

Stay with lower leverage 1:100 if you have $10 account.

1:1000 is the best leverage for a $10 account

Traders who focus on leverage are always those with little trading capital. When you have a sizeable capital, leverage becomes irrelevant. However, for $10 account I would use 1:500 leverage and limit my lot size to 0.01

If your trading account balance is $10 (meaning you have a $10 account), it is best you go for lower leverage of around 1:500 so that you have enough money remaining to set a wide stop loss after you open a trade.

You may also want to consider trading with a cent account so the initial margin required to open a trade will not be too high. If I were you, I would not try to flip a $10 account (because I fear this might be your goal), instead I would trade small lot sizes and accumulate little profits over time. The truth is that with a $10 account, you should not expect to make huge profits.

1:100 leverage may not be the best for a $10 account because it might not cover the margin requirements for the instrument he wants to trade. Like @yokoyi said, 1:500 is best leverage for $10

I trade with $10 frequently and I use 1:3000 leverage but I lower my lot size to 0.02. So, for a small lot size I increase the leverage but as the lot size gets bigger, I lower the leverage.

If you are trading major fx pairs, on a $10 account a 1:2000 leverage could suffice but you must keep your lot size low (between 0.01 to 0.02). With a x2000 leverage, margin to open a 0.01 lot size trade will be give or take $1 so you will still have a free margin of around $9 to keep you afloat in case the trade starts making losses.

$10 is barely enough to open a reasonable lot size so you will ne needing high leverage like 1:2000 if you want to trade 0.02 lot size of a major fx pair