Margin Calculator
Check the margin a position locks up, your free margin after opening it, and how close that puts you to a margin call.
Position details
The result updates as you type.
Values the notional in dollars.
Optional - unlocks free margin and margin level.
Required margin
R10 036
Position notional
R1 003 625
0.50 lots of EUR/USD
Leverage
1:100
Free margin after opening
-R36,25
100,4% of balance used
Margin level
100%
Equity ÷ used margin, at open
This position needs more margin than your balance - your broker would reject it. Reduce the size or increase the leverage setting to match your account.
Educational tool - verify with your broker
This calculator uses industry-standard formulas and the rates you enter. Contract specifications, pip values, swap charges and margin requirements differ between brokers, so confirm the numbers on your own platform before placing a trade. Nothing here is financial advice, and trading involves substantial risk of loss.
Understand the numbers
How this calculator works, and why it matters.
Margin is a deposit, not a cost
Required margin is capital your broker reserves while the position is open - you get it back when you close. Your real risk is the stop-loss distance, not the margin.
Margin level and stop-outs
Margin level = equity ÷ used margin. Most brokers warn you (margin call) at 100% and force-close positions (stop-out) around 50%. Keeping plenty of free margin is what stops a normal pullback from closing your trades.
High leverage cuts both ways
1:500 leverage means a R10,000 account can control R5 million of currency. The margin requirement shrinks, but every pip is still worth the same - leverage changes what you can open, not what you should.
Frequently asked questions
How much margin do I need to trade 1 lot of EUR/USD?
One lot of EUR/USD is a notional of about $108,500 at a price of 1.0850. At 1:100 leverage the required margin is $1,085 - roughly R20,000 at a USD/ZAR rate of 18.50. At 1:500 it drops to about R4,000. Margin is reserved while the trade is open and returned when it closes.
What leverage do forex brokers offer South African traders?
Retail leverage commonly ranges from 1:30 on European-style regulated accounts up to 1:500 on offshore entities that accept South African clients. Higher leverage lowers the margin requirement but does not change the value of a pip - your risk still comes from position size and stop distance.
What is a margin call and a stop-out?
Margin level is your equity divided by used margin. Most brokers issue a margin call warning when it falls to around 100% and automatically close positions (stop-out) at around 50%. Keeping plenty of free margin is what prevents a normal pullback from force-closing your trades.
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