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Margin calculator

Calculate how much margin a forex or gold position needs at your leverage, its full notional value and how much free margin you'd have left.

Filled in from the ECB reference rate of 2026-10-22. Type your broker's live price for an exact figure.

lots

Brokers often set lower leverage for gold and silver than for currencies.

USD
Required margin$1,120.50
Position value$112,050.00notional
Free margin after opening$8,879.50
Margin level892%equity / used margin

Brokers usually issue a margin call near 100% margin level and close positions (stop out) around 20 to 50%. Check your broker's levels.

The margin formula

Position value = lots × contract size × price
Required margin = position value ÷ leverage

Both are shown in your account currency. With leverage of 1:100, a position needs 1% of its value as margin; with 1:500 it needs 0.2%.

Worked examples

  • 1 lot EUR/USD at 1.1000, 1:100, USD account: position value 100,000 × 1.1000 = $110,000. Margin $110,000 ÷ 100 = $1,100.
  • 0.50 lots of gold at 2,400.00, 1:100, USD account (an example price): position value 0.5 × 100 oz × $2,400 = $120,000. Margin $1,200.

Margin level, margin call and stop out

Your margin level is your equity divided by the margin in use, as a percentage. While it stays high you can open more trades; as losses reduce equity, it falls. Brokers send a margin call when it gets close to 100% and start closing positions at their stop out level.

Margin matters most for strategies that hold many positions at once, such as grid systems. Read how that plays out in our grid and martingale guide, and size each trade by risk with the position size calculator rather than by the margin you have free.

Frequently asked questions

What is margin in forex?

Margin is the part of your balance your broker sets aside to keep a leveraged position open. It isn't a fee: it is released when you close the trade. The required amount is the position's value divided by your leverage.

What do margin call and stop out mean?

A margin call is a warning that your equity is close to the margin your open trades use. A stop out is when the broker starts closing positions automatically because the margin level has fallen below its minimum. Brokers set their own levels, often a margin call near 100% and a stop out between 20% and 50%.

Does higher leverage mean more risk?

Higher leverage lowers the margin a trade needs, so it lets you open bigger positions with the same balance. The risk of a trade depends on its size and stop loss, not on the leverage itself, but more available leverage makes it easier to over-size.

Why does gold need more margin than EUR/USD?

A standard lot of gold is 100 ounces, so its value is much larger than a lot of most currency pairs, and brokers often apply lower leverage to metals. Both push the margin requirement up.

Free toolPosition size calculatorThe lot size that risks exactly the amount you choose. Free toolPip value calculatorWhat one pip is worth for your lot size and account currency. Guide · 9 minGrid and martingale EAs: how they work and the real risksWhy smooth equity curves can hide large risks. Guide · 11 minRisk management for EA trading: sizing, drawdown and limitsA practical risk plan for running EAs.

Educational information only, not financial advice. Trading forex and CFDs on margin carries a high risk of losing money. Read our risk warning.

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