Forex ECN Accounts

Margin Requirements

Trades on the SWFX marketplace can be executed using leverage. Leverage allows you to open positions whose value exceeds the funds available in your account, increasing both potential profits and losses resulting from price movements. The maximum aggregate position size is determined by the account equity and the applicable leverage. The maximum leverage available for each trading instrument is shown in the table below.

  • * If the equity of your trading account is less than EUR 20 or the equivalent amount in another currency, the account may be blocked.

  • To manage the risks associated with insufficient account equity, Dukascopy Europe applies the following minimum equity requirement:
    The minimum equity required for a self-trading account is EUR 20. For accounts with a different base currency, the minimum equity is calculated as the equivalent of EUR 20 using the exchange rate applicable at the latest settlement. If the account equity falls below the minimum required level, Dukascopy Europe may close all open positions and block the account.

    The minimum margin required to open a position depends on the leverage applicable to the trading instrument and current market prices.

  • The Use of Leverage is an indicator showing how much of the available collateral is currently used by the exposure on the trading account. It is displayed as a percentage in real time and calculated as follows:

    Use of leverage
    =
    Used Margin*
    Equity
    x
    100%
    • * Please note that the Used Margin is calculated by dividing the exposure by the leverage.

    Example:

    Position of 1 mio EUR/USD 1.2000
    Exposure on the account USD 1'200'000
    Profit and losses 0
    Leverage authorized for the account 1:30
    Equity USD 100'000

    Used Margin = Exposure on the account / Leverage = USD 1'200'000 / 30 = USD 40'000
    Use of Leverage = Used Margin / Equity = 40'000 / 100'000 = 40%

  • Margin call (use of leverage >100%) means a situation where the margin requirements do not allow the client to increase exposure on his account. The client may only close the existing unhedged positions or hedge current positions in order to reduce exposure. Despite the margin call level being reached, the positions will not be closed automatically. The automated system will cancel all placed bid/offer orders that can increase the exposure.

    Margin cut or cut-off level (Use of Leverage ≥ 200%) - if the Use of Leverage reaches or exceeds 200%, Dukascopy Europe will close one or more of the client's open positions and cancel pending orders as necessary to reduce the account exposure and restore compliance with the applicable margin requirements.

    Use of leverage Description
    0% No exposure
    < 100% Normal status: the trader may increase the account exposure up to a 100% Use of Leverage level. An order that would cause the Use of Leverage to exceed 100% upon execution may be partially executed or rejected.
    ≥100% Margin call: the client is not able to increase the exposure on the account if the Use of Leverage reaches or exceeds 100%.
    ≥200% Margin cut: the system automatically reduces the account exposure by closing one or more existing positions and cancels pending orders.

  • The maximum net exposure for each currency pair or CFD instrument is calculated on an aggregate basis across all of the client's sub-accounts.

    The standard maximum exposure limits are shown in the tables below:

    • Instrument Maximum exposure in the primary currency

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Instrument Maximum exposure
      ADA/USD30'000 USD equivalent
      AVE/USD30'000 USD equivalent
      BAT/USD30'000 USD equivalent
      BCH/CHF50'000 CHF equivalent
      BCH/EUR50'000 EUR equivalent
      BCH/GBP50'000 GBP equivalent
      BCH/USD50'000 USD equivalent
      BTC/CHF100'000 CHF equivalent
      BTC/EUR100'000 EUR equivalent
      BTC/GBP100'000 GBP equivalent
      BTC/USD100'000 USD equivalent
      CMP/USD30'000 USD equivalent
      DSH/USD30'000 USD equivalent
      ENJ/USD30'000 USD equivalent
      EOS/USD30'000 USD equivalent
      ETH/CHF100'000 CHF equivalent
      ETH/EUR100'000 EUR equivalent
      ETH/GBP100'000 GBP equivalent
      ETH/USD100'000 USD equivalent
      LNK/USD30'000 USD equivalent
      LTC/CHF50'000 CHF equivalent
      LTC/EUR50'000 EUR equivalent
      LTC/GBP50'000 GBP equivalent
      LTC/USD50'000 USD equivalent
      MAT/USD30'000 USD equivalent
      MKR/USD30'000 USD equivalent
      TRX/USD30'000 USD equivalent
      UNI/USD30'000 USD equivalent
      XLM/CHF50'000 CHF equivalent
      XLM/EUR50'000 EUR equivalent
      XLM/GBP50'000 GBP equivalent
      XLM/USD50'000 USD equivalent
      YFI/USD30'000 USD equivalent

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Instrument Maximum exposure in contracts
      AUS.IDX/AUD750
      CHE.IDX/CHF350
      CHI.IDX/USD200
      DEU.IDX/EUR250
      DOLLAR.IDX/USD25'000
      ESP.IDX/EUR300
      EUS.IDX/EUR900
      FRA.IDX/EUR500
      GBR.IDX/GBP350
      HKG.IDX/HKD1'000
      ITA.IDX/EUR1'000'000 EUR equivalent
      JPN.IDX/JPY20'000
      NLD.IDX/EUR4'550
      PLN.IDX/PLN1'545
      SGD.IDX/SGD11'220
      USA30.IDX/USD100
      USA500.IDX/USD1'000
      USATECH.IDX/USD300
      USSC2000.IDX/USD2'000
      VOL.IDX/USD100'000 USD equivalent

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Instrument Maximum exposure in contracts
      BRENT.CMD/USD650
      COCOA.CMD/USD225
      COFFEE.CMD/USX940'000
      COPPER.CMD/USD1'000'000 USD equivalent
      COTTON.CMD/USX685'000
      DIESEL.CMD/USD1'800
      GAS.CMD/USD4'500
      LIGHT.CMD/USD650
      OJUICE.CMD/USX410'000
      SOYBEAN.CMD/USX223'500
      SUGAR.CMD/USD1'430
      XPD.CMD/USD315
      XPT.CMD/USD90

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Instrument Maximum exposure in contracts
      BUND.TR/EUR10'000
      USTBOND.TR/USD10'000

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Instrument Maximum exposure in Oz
      XAG/AED20'000
      XAG/AUD40'000
      XAG/CAD40'000
      XAG/CHF40'000
      XAG/CNH20'000
      XAG/CZK20'000
      XAG/DKK20'000
      XAG/EUR40'000
      XAG/GBP40'000
      XAG/HKD20'000
      XAG/HUF20'000
      XAG/ILS20'000
      XAG/JPY40'000
      XAG/MXN20'000
      XAG/NOK40'000
      XAG/NZD40'000
      XAG/PLN20'000
      XAG/RON20'000
      XAG/SAR20'000
      XAG/SEK40'000
      XAG/SGD40'000
      XAG/THB20'000
      XAG/TRY20'000
      XAG/USD40'000
      XAG/ZAR20'000
      XAU/AED750
      XAU/AUD1'500
      XAU/CAD1'500
      XAU/CHF1'500
      XAU/CNH750
      XAU/CZK750
      XAU/DKK750
      XAU/EUR1'500
      XAU/GBP1'500
      XAU/HKD750
      XAU/HUF750
      XAU/ILS750
      XAU/JPY1'500
      XAU/MXN750
      XAU/NOK1'500
      XAU/NZD1'500
      XAU/PLN750
      XAU/RON750
      XAU/SAR750
      XAU/SEK1'500
      XAU/SGD1'500
      XAU/THB750
      XAU/TRY750
      XAU/USD1'500
      XAU/XAG750
      XAU/ZAR1'500

      Exceptions may apply for some clients or some instruments. Information on applicable maximum net exposure limits is available in trading reports section "CFD Instruments" subsection "Maximum Exposure".

    • Market Maximum exposure
      for a share CFD
      Austria 100'000 EUR
      Belgium 100'000 EUR
      Denmark 750'000 DKK
      Finland 100'000 EUR
      France 100'000 EUR
      Germany 100'000 EUR
      Hong Kong 780'000 HKD
      Italy 100'000 EUR
      Ireland 100'000 EUR
      Japan 10'000'000 JPY
      Mexico 100'000 USD equivalent
      Netherlands 100'000 EUR
      Norway 900'000 NOK
      Portugal 100'000 EUR
      Spain 100'000 EUR
      Sweden 950'000 SEK
      Switzerland 100'000 CHF
      UK (GBP denominated) 90'000 GBP
      UK (USD denominated) 100'000 GBP
      US 100'000 USD

      Clients may request dynamic leverage on their account to benefit from higher instrument exposure limits.

  • If you have any questions about Dukascopy Europe services or require additional information, contact us by email at [email protected] or by phone send us a message,  +371 67 399 000 or alternatively ask for a call-back.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.82% of retail investor accounts lose money when trading CFDs with this provider. Show more You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Show less