Commodity Margin Calculator

Calculate the margin required for any OTC commodity CFD position. Enter contracts, contract size, current price, and leverage to find your required deposit.

Units per lot: Gold = 100 oz, Silver = 5,000 oz, WTI Oil = 1,000 barrels.

Retail OTC commodity leverage (leverage-based model, not exchange-mandated flat margin).

Exchange Rate

Formula

OTC commodity margin formula (leverage-based)

Notional Value Contracts × Contract Size × Price
Required Margin Notional Value ÷ Leverage × Base→Account Rate

This is the retail OTC/CFD leverage-based model. Exchange-traded futures use a flat per-contract initial margin set by the exchange — use the Futures Margin Calculator for those.

Worked Example

Given

1 Gold lot · Contract size = 100 oz · Price = $2,500 · Leverage 100:1 · USD account

Notional Value
1 × 100 × $2,500 = $250,000
Required Margin
$250,000 ÷ 100 = $2,500

Frequently Asked Questions

How is commodity margin calculated?
Required Margin = (Contracts × Contract Size × Price) ÷ Leverage × Base→Account Rate. This is the leverage-based model used by retail OTC commodity CFD brokers. It is different from exchange-traded futures, which use a flat exchange-mandated margin per contract.
What leverage is available for commodity CFDs?
Retail leverage for commodities varies: Gold (XAUUSD) up to 200:1 at some brokers. Under ESMA (EU/UK) rules, maximum leverage is 10:1 for commodities other than gold, and 20:1 for gold. US clients are limited to 50:1 for commodity CFDs. Professional client limits are higher. Check your broker's conditions.
Is this for futures or OTC/CFD positions?
This calculator uses the OTC/CFD leverage-based margin model. Exchange-traded futures use a different system: a fixed initial margin per contract set by the exchange (CME, NYMEX, COMEX). Use the Futures Margin Calculator for exchange-traded contracts.
What is notional value?
Notional value is your total economic exposure: Contracts × Contract Size × Current Price. For 1 lot of gold at $2,500/oz with 100 oz contract size, notional = $250,000. Your margin is a fraction of this (e.g. at 100:1 leverage, margin = $2,500).