Dear forum members,
I want to know how to calculate the required margins (when using MT4)
According this site https://www.ig.com/au/learn-to-trade/margin-explained you need to do it as followed
How do i calculate the total value of your trade?
I bought a contract last week and i know my margin req.
It was 112.03
Since i know the outcome i tried it myself but with provided info of IG i cant seems to get this outcome
The contract i bought was a long option for US30 size 0.01 (MT4)
the value of 1 contract is 10 so 0.01 should be .1
The opening price when i went long was 25332.3
With the formula above i would say that the total value would be 0.1 X 25332.3 = 2533.23
The margin requirement for US30 is 0.5%
when calculating 2533.23 X 0.5% = 12.66615
Can someone please help me to get the figures right because even if i made a mistake with the place of the dot it would be 126 and not 112
Kind regards and thanks in advance