Margin and leverage calculator

How it is calculated

• Notional value = lots × contract size × price ÷ exchange rate
• Required margin = notional value ÷ leverage (margin rate = 100% ÷ leverage)
• Effective leverage = notional value ÷ account balance

Worked example

0.10 lots × 100 oz × 4,020.00 = 40,200 notional (USD account). At 1:20, margin = 40,200 ÷ 20 = 2,010 (a 5% margin rate). With a 10,000 balance the effective leverage is 4.02 : 1 and the margin uses 20.1% of the balance. The 4,020.00 price is roughly where gold spot was when this page was built (29 Oct 2026); it is an example to show the arithmetic, not a forecast or a signal.

Things to know

• Margin is not the most you can lose. Losses are set by the price move and position size and can exceed the margin; check whether your provider offers negative balance protection.
• Providers set their own margin rates and may raise them around events or for larger positions.
• Contract size, lot step, margin rates and quoting conventions vary between providers and account types. The defaults here are common examples; check your provider’s contract specification and use its figures.

Other calculators

• Position size
• Pip and point value
• Risk/reward and breakeven
• Profit and loss
• Drawdown recovery