I'm not an expert in forex, but as far as I know, high volatility commodities can quickly wipe out forex accounts, especially with such low amounts.
It does seem like a very interesting strategy though, that can probably make one even more money than investing directly in Bitcoin, but for that to work I think you need a sizable ($10,000?) amount, and only invest a few hundred dollars at most in that position. That way you can still make a lot of money if Bitcoin keeps increasing, but if it does happen to drop quite a lot, at least there's a much smaller chance of losing all the money.
It does seem like a very interesting strategy though, that can probably make one even more money than investing directly in Bitcoin, but for that to work I think you need a sizable ($10,000?) amount, and only invest a few hundred dollars at most in that position. That way you can still make a lot of money if Bitcoin keeps increasing, but if it does happen to drop quite a lot, at least there's a much smaller chance of losing all the money.