Margin requirements

Forex, stocks and commodities are traded on margin. This means that you can leverage your investment by opening positions of larger size than the funds you have to place as margin collateral.

Margin means the amount of funds (e.g. cash or collateral provided to AM Broker (if applicable)), reserved on your trading account to cover any potential losses from open CFD positions, and any other margin positions.

FX Majors
FX minors
FX Exotics
FX SPECIAL CZK & RUB
Major Stock Indexes
Other Stock Indexes
Commodities
Other Markets

Notional Position Value in Account Currency

Leverage rates for [EURUSD], [USDGBP], [USDCHF], [USDJPY], [USDCAD], [AUDUSD], [NZDUSD]

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 1,300,000 up to 1,500,000 1:500
1,300,000 - 2,170,000 1,500,000 - 2,500,000 1:200
2,170,000 - 3,000,000 2,500,000 - 3,500,000 1:50
Over 3,000,000 Over 3,500,000 1:10

Notional Position Value in Account Currency

Leverage rates for [AUDCAD], [AUDCHF], [AUDJPY], [CADCHF], [CADJPY], [CHFJPY], [EURAUD], [EURCAD], [EURCHF], [EURGBP], [EURJPY], [EURNZD], [GBPAUD], [GBPCAD], [GBPCHF], [GBPJPY], [GBPNZD], [NZDCAD], [NZDCHF], [NZDJPY]

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 1,300,000 up to 1,500,000 1:500
1,300,000 - 2,170,000 1,500,000 - 2,500,000 1:200
2,170,000 - 3,000,000 2,500,000 - 3,500,000 1:50
Over 3,000,000 Over 3,500,000 1:10

Notional Position Value in Account Currency

Leverage rates for all other currency pairs.

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 1,300,000 up to 1,500,000 1:500
1,300,000 - 2,170,000 1,500,000 - 2,500,000 1:200
2,170,000 - 3,000,000 2,500,000 - 3,500,000 1:50
Over 3,000,000 Over 3,500,000 1:10

Notional Position Value in Account Currency

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 1,500,000 up to 1,500,000 1:25
1,500,000 - 2,300,000 1,500,000 - 2,300,000 1:10
Over 2,300,000 Over 2,300,000 1:3

Notional Position Value in Account Currency

Leverage rates for [ASX200], [DAX30], [DJI30], [FTSE100], [NQ100], [SP500]

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 170,000 up to 200,000 1:500
170,000 - 1,300,000 200,000 - 1,500,000 1:200
1,300,000 - 1,700,000 1,500,000 - 2,000,000 1:50
Over 1,700,000 Over 2,000,000 1:10

Notional Position Value in Account Currency

Leverage rates for [AEX25], [CAC40], [HSI50], [IBEX35], [JP225], [MDAX50], [OBX25], [SMI20], [STOXX50], [TECDAX30]

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
up to 430,000 up to 500,000 1:200
430,000 - 860,000 500,000 - 1,000,000 1:50
Over 860,000 Over 1,000,000 1:10

Notional Position Value in Account Currency

Leverage rates for GOLD, SILVER, WTI, BRENT, NGAS

EUR USD
Leverage 1
up to 170,000 up to 200,000 1:500
170,000 - 1,300,000 200,000 - 1,500,000 1:200
1,300,000 - 1,700,000 1,500,000 - 2,000,000 1:50
Over 1,700,000 Over 2,000,000 1:10

Notional Position Value in Account Currency

Leverage rates for Stocks and ETFs

EUR USD
Leverage 1 The ratio of position's notional value to amount of margin required for opening a position (e.g. leverage 1:1000 means that EUR 100,000 contract requires as low as 100 EUR margin)
- - 1:10
Notes:
  1. If a position is opened or closed (fully or partially) within an hour of the close of the Friday trading session on any given instrument, the leverage applied to all positions is 1:50. This includes positions opened prior to the pre-close hour but does not include those with lower leverage rates (e.g. 1:10). The above term has an extended duration for a number of CFDs on cash indices and bonds, the relevant data is specified on the instrument pages in Contract Specifications. The margin value of positions with the leverage rate of 1:50 applied during the pre-close hour is automatically recalculated on weekends. By the session opening on Mondays, the leverage applied to such positions reflects their notional value as per general margining terms. It also takes into consideration the leverage rate settings you may have selected in your Trader`s Room (please see Note 3 below). Please also note that the above terms can be applied on a special notice to other days of the working week in cases where holidays may affect the trading schedule.
  2. All clients have an option to decrease or increase the account`s leverage manually by selecting one of the leverage rates in the account settings in the Trader`s Room. Please note that the change of account`s leverage has an immediate effect on the margin value of all open positions. If you choose to select a decreased leverage rate, the notional value ranges applicable to your positions begin from those specified for the selected leverage in the above tables.
  3. Margin requirements for markets other than listed above can be found in Contract Specifications by selecting the needed instrument in the lookup menu.
  4. The stop-out level is the level at which the loss from the open position will be so great that the position will be closed automatically. Stop-out is activated when the current account balance amounts to 50% of the blocked margin.

Example 1: Buying a rolling spot FX product

Assuming your account currency is USD, the leverage on major Forex instruments is provided as per the table below and calculated as follows:

Notional Position Value, USD Leverage Rate
Up to 7,500,000 1:500
7,500,000 - 10,000,000 1:200
10,000,000 - 12,500,000 1:50
Over 12,500,000 1:10

Let`s open a position: Buy 10 lots EURUSD at 1.04440.

The notional position value in the account`s currency (USD) is 10 lots x 100,000 x 1.0444 = 1,044,400 USD, which is less than the first tier of 7,500,000 USD.

Therefore, a leverage of 1:500 is applied to this position and the margin requirements are calculated as 1,044,400 / 500 = 2,088.8 USD.

Example 2: Buying a cash index CFD product

Assuming your account currency is USD, the leverage on cash index CFDs is provided as per the table below and calculated as follows:

Notional Position Value, USD Leverage Rate
Up to 500,000 1:500
500,000 — 3,500,000 1:200
3,500,000 — 4,700,000 1:50
Over 4,700,000 1:10

Let`s open a position: Buy 100 lots on [DAX30] at 11,467.88 while the EURUSD rate in MetaTrader is 1.04440.

[DAX30] is quoted in EUR, so the notional position value in the account`s currency (USD) is 100 lots x 11,467.88 x 1.04440 = 1,197,705.39 USD.

The above value is more than the first tier of 500,000 USD but less than the second tier of 3,500,000 USD.

Therefore, a leverage of 1:500 is applied to the first 500,000 USD of this position and a leverage of 1:200 is applied to the remainder. So, the margin requirements are calculated as 500,000 / 500 + 697,705.39 / 200 = 4,488.53 USD.

Example 3: Selling a spot metal CFD product and increasing the open position on the same product

Assuming your account currency is AED, the leverage on spot metal CFDs is provided according to the table below as shown in the following two examples.

Notional Position Value, USD Leverage Rate
Up to 400,000 1:500
400,000 — 2,500,000 1:200
2,500,000 — 3,300,000 1:50
Over 3,300,000 1:10

Example 3.1

Let`s open a position: Sell 25 lots GOLD at 1158.15 while the GBPUSD rate in MetaTrader is 1.22462.

GOLD is quoted in USD, so the notional position value in the account`s currency (GBP) is 25 lots x 100 oz x 1158.15 / 1.22462 = 2,364,304.85 GBP

The above value is more than the first tier of 400,000 GBP but less than the second tier of 2,500,000 GBP.

Therefore, a leverage of 1:500 is applied to the first 400,000 GBP of this position and a leverage of 1:200 is applied to the remainder. So, the margin requirements are calculated as 400,000 / 500 + 1,964,304.85 / 200 = 10,621.52 GBP.

Example 3.2

Let`s open an additional position on the same instrument, for example: Sell 5 lots GOLD at 1158.15.

GOLD is quoted in USD, so the notional position value in the account`s currency (GBP) is 5 lots x 100 oz x 1158.15 / 1.22462 = 472,860.97 GBP.

The summary notional value of both positions in the account`s currency (GBP) is 2,364,304.85 + 472,860.97 = 2,837,165.82 GBP, which is more than the second tier of 2,500,000 GBP, but less than the third tier of 3,300,000 GBP.

Therefore, a leverage of 1:500 is applied to the first 400,000 GBP of the summary notional value of both positions, while a leverage of 1:200 is applied to the next 2,100,000 GBP and a leverage of 1:50 is applied to the remainder. So, the margin requirements for both positions are calculated as 400,000 / 500 + 2,100,000 / 200 + 337,165.82 / 50 = 18,043.32 GBP.

Example 4: Buying a rolling spot FX product within an hour before the close of the Friday trading session

Assuming your account currency is USD, the margin terms applied to FX majors are the same as shown in Example 1.

Additionally, there is a term which concerns all highly leveraged products according to which positions opened within an hour of the close of the trading session on Fridays will receive a leverage of 1:50—with the exception of positions that open with lower leverage (e.g. 1:10).

Let`s open a position: Buy 100 lots USDJPY at 117.311 on Friday 23:35 (EET).

According to the Contract Specifications, the trading schedule of USDJPY in EET is 00:05 Mon - 23:59 Fri, therefore our position is subject to the pre-close margining term.

USDJPY is quoted in USD, so the notional position value in the account`s currency (USD) is 100 lots x 100,000 x 1 = 10,000,000 USD, which is less than the fourth tier of 12,500,000 USD—so there is no part of the position to which a leverage of 1:10 should be applied.

Therefore, a leverage of 1:50 is applied to the entire position, with the margin requirements calculated as 10,000,000 / 50 = 200,000 USD.

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