i What this calculator does
Quick answer: Work out the exact price that triggers a margin call, and the one that triggers a stop-out, from your equity, leverage and position size here. With the default inputs (account equity 50 000, position size 0.2), it returns margin call price of 14.6017.
A margin call calculator shows two prices that matter more than any target: the level at which your broker warns you, and the level at which it closes the position for you. Both follow from your equity, the margin the position uses, and the broker's stated thresholds.
Most South African brokers warn at a margin level of 100% and close positions at 50%, though the figures vary. Knowing those two prices before you open a trade is the difference between managing a drawdown and discovering it.
This calculator is for educational purposes only. Results are estimates and may vary depending on market conditions, spreads, commissions, platform settings, and exchange rates. It should not be considered financial advice.
How to use the Margin Call Calculator
The form arrives filled in. Replacing one value at a time is the clearest way to see what the output depends on.
- 1. Account Equity (R)
- 2. Position Size (lots)
- 3. Entry Price
- 4. Leverage
- 5. Margin Call Level (%) Broker warns at this margin level
- 6. Stop-Out Level (%) Broker closes positions at this level
The result panel reports:
- Starting Margin Level Equity over used margin
Alongside the headline figures, the calculator reports used margin, free margin, notional value, loss at stop-out. Those are the numbers that usually explain why the headline result came out where it did.
You can see how the number was built: each step appears beneath the answer.
Common results
What the calculator returns as the account equity changes, with every other input at its default (position size 0.2, entry price 16.5500, leverage 1:30, margin call level 100, stop-out level 50).
| Account Equity | Margin Call Price | Stop-Out Price | Starting Margin Level |
|---|---|---|---|
| R15 000 | 16.3517 | 16.0758 | 136.0% |
| R25 000 | 15.8517 | 15.5758 | 226.6% |
| R50 000 | 14.6017 | 14.3258 | 453.2% |
| R100 000 | 12.1017 | 11.8258 | 906.3% |
| R200 000 | 7.1017 | 6.8258 | 1 812.7% |
| R400 000 | -2.8983 | -3.1742 | 3 625.4% |
Figures used in this calculator
The South African constants this calculator relies on, with the page that holds the current value and the date it was last verified.
- Retail leverage in South Africa: No FSCA cap; brokers commonly offer 1:200 to 1:500. Source: Leverage and Margin Limits Reference (verified 27 September 2026).
How the calculation works
The calculator takes eight inputs: Account Equity, Position Size, Entry Price, Leverage, Margin Call Level, Stop-Out Level, calc-f7 and calc-f7. Margin Call Level: Broker warns at this margin level. Stop-Out Level: Broker closes positions at this level. The notional is 20 000 x 16.5500 = R331 000.00. The used margin is R331 000.00 / 30 = R11 033.33. The margin level is R50 000.00 / R11 033.33 x 100 = 453.2%. The equity at call is R11 033.33 x 100% = R11 033.33. The breakdown also lists account equity, position size, leverage and used margin.
A worked example in rand
With the default inputs (account equity R50 000, position size 0.2 lots, entry price 16.5500, leverage 1:30, margin call level 100% and stop-out level 50%), the calculator returns a margin call price of 14.6017, 19 483 pips from entry. It also reports stop-out price 14.3258 and starting margin level 453.2%. Double the account equity to 100 000 and the margin call price moves from 14.6017 to 12.1017, the stop-out price moves from 14.3258 to 11.8258 and the starting margin level moves from 453.2% to 906.3%.
How to read the result
With these inputs the calculator's own verdict reads: "Margin level starts at 405%, leaving room before the call level." The verdict changes as the inputs cross the thresholds the calculator uses, and it is the fastest way to see which side of them you are on. Most professional guidance keeps the amount at risk on one trade between 0.5% and 2% of the account; a result above that is a signal to trade smaller, not to tighten the stop. The background to this calculation is in What Is a Margin Call and How Do I Avoid One?.
The South African angle
Three things change the picture for a South African trader using the margin call and stop-out calculator. Spreads on rand pairs at retail brokers are wider than on the majors, typically 20 to 60 points on USD/ZAR, and that spread is part of the distance a trade must travel before the risk arithmetic starts working for you. Prop firm programmes marketed in South Africa fail most applicants on the daily loss limit, which is a position-sizing failure: the stop was fine, the size was not. Most South African traders hold accounts in rand and trade dollar-quoted instruments, so the pip or point value of a position changes with the dollar-rand rate and the calculators convert at the rate you enter. The figures behind these points, and the ones the margin call and stop-out calculator itself uses, are on the leverage and margin limits reference.
Spotted an outdated figure? If a rate, limit or formula in this calculator no longer matches its source, email us the page and the source. A material correction is dated on the Updates Log.
Frequently asked questions
What margin level triggers a margin call in South Africa?
It varies by broker, but a warning at a 100% margin level and a stop-out at 50% is common. The exact figures sit in your broker's terms, and some brokers use tiered levels that change with position size. Always confirm your own broker's numbers rather than assuming the defaults.
Is a margin call the same as a stop-out?
No. A margin call is a warning that your margin level has fallen to a threshold, giving you the chance to deposit more or close positions. A stop-out is automatic: the broker closes positions without asking, usually starting with the largest loser.
Can I lose more than my deposit?
Ask specifically whether your account is ring-fenced against a negative balance. negative balance protection should be stated in the agreement rather than in support chat.
Does a wider stop-loss protect me from a margin call?
No, it does the opposite. A wider stop means a larger loss before it triggers, which drains equity faster and brings the margin call closer. The protection comes from position size, not stop distance.
Why did my broker close only some positions?
Most stop-out procedures close the largest losing position first, then recheck the margin level. If closing one position restores the level above the threshold, the rest stay open.
Does leverage change the margin call price?
Yes, substantially. Higher leverage means less margin is used, which raises your starting margin level but also means a given position size represents more exposure per rand of equity. Run both in the calculator to see the difference.
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