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Deposit factor


StephenUK

Question

Hi,

I am not fully understanding the following figures for US crude.  The IG information sheets states:

Tier Position size (USD) Deposit Factor
1 0 - 1295 80.0
2 1295 - 2590 80.0
3 2590 - 3885 240.0
4 3885 + 480.0

I am UK based, and one unit movement would represent one pound.

So my first question is whether I need to work out a dollar value for pounds to know the deposit factor.

Secondly, I am not understanding quite what, for example, a deposit factor of, for example, 480 means.  Is this the opposite of gearing, where 4.8 pounds must be in the account to trade one pound?

Any help greatly appreciated!

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