Margin call example: margin call at 100% with no separate stop out.
When a broker sets the margin call and the stop out both at 100%, the warning and the forced close happen at the same moment. In this example, a $1,000 account buys 0.50 lot of EUR/USD with $550 of margin at 1:100, and the trade is closed after a 90 pip fall, a $450 loss.
هذا المحتوى متاح حاليًا باللغة الإنجليزية فقط.
Some brokers set one margin level where others set two. At a one-level broker, when your margin level falls to 100%, the margin call and the forced close of your trades happen together.
This lesson follows one account from the opening trade to that forced close. Every number is worked out so you can repeat it, and all prices are round illustrative figures.
What does a single 100% level mean?
Margin level is your equity divided by your used margin, times 100. At 100%, equity equals used margin, so your free margin is zero. The margin level lesson covers the formula in more detail.
Many brokers set two levels. The margin call comes first as a warning, and the stop out, where the broker starts closing positions, comes at a lower margin level.
With one level at 100%, the two events fall on the same point. The first notice you receive arrives with the closed trade, so there is no time to add funds or cut the position yourself.
Brokers usually publish these levels on the account type page or in the client terms, written as percentages. Check yours before you trade, because the example below fits only a broker that uses one level.
How much margin does the trade use?
Here is the setup, in US dollars:
- Balance: $1,000
- Leverage: 1:100
- Trade: buy 0.50 lot of EUR/USD at 1.10000
- Margin call and stop out: both at 100%
One standard lot is 100,000 units of the base currency, so 0.50 lot is 50,000 euros. At 1.10000 that position is worth 50,000 × 1.10000 = $55,000.
At 1:100 the broker holds one hundredth of that as margin: $55,000 ÷ 100 = $550. A pip on EUR/USD is 0.0001, so each pip on 50,000 euros is worth 50,000 × 0.0001 = $5.
Right after the trade opens:
- Equity = $1,000 balance + $0 floating = $1,000.
- Free margin = $1,000 − $550 = $450.
- Margin level = $1,000 ÷ $550 × 100 = 181.8%.
Spread, commission and swap are left out so the sums stay clean. In a real account they reduce equity a little and bring the close nearer. Prices below are the bid, the price a long trade closes at.
How the margin level falls as EUR/USD drops
Now the euro weakens. Each pip lower takes $5 off equity, while the used margin stays at $550.
| EUR/USD bid | Pips | Floating P/L | Equity | Free margin | Margin level |
|---|---|---|---|---|---|
| 1.10000 | 0 | $0 | $1,000 | $450 | 181.8% |
| 1.09700 | −30 | −$150 | $850 | $300 | 154.5% |
| 1.09400 | −60 | −$300 | $700 | $150 | 127.3% |
| 1.09100 | −90 | −$450 | $550 | $0 | 100.0% |
You can find the trigger price without the table. The loss that turns equity into used margin is $1,000 − $550 = $450, and $450 ÷ $5 = 90 pips. Ninety pips below 1.10000 is 1.09100.
Platforms differ on one detail. Some recalculate margin on EUR/USD at the current price, so at 1.09100 it is 50,000 × 1.09100 ÷ 100 = $545.50, and the trigger lands about one pip lower.
The shrinking free margin matters before the close too. New trades need free margin, so as it falls you can open less, and near zero the platform will usually reject a new order.
What happens when the level hits 100%?
When the margin level touches 100% at 1.09100, the broker closes the position at the next available market price. The margin call notice and the closed trade reach you together.
If the close fills exactly at 1.09100, the loss is 90 × $5 = $450. Your balance becomes $1,000 − $450 = $550, and with nothing open your equity is $550 as well.
Fast markets often fill beyond the trigger, a gap called slippage. A fill at 1.09080 is a 92 pip move, so the loss is 92 × $5 = $460 and the balance drops to $540.
The $550 of margin was part of your balance all along, set aside while the trade was open. What you actually lose is the price move, plus any slippage and trading costs.
When you hold more than one position
With several trades open, the broker commonly closes the one with the largest floating loss first. It then checks the margin level again and repeats until the level is back above 100% or nothing is left.
Take the same $1,000 balance at 1:100, with two trades:
- Trade A: buy 0.30 lot of EUR/USD at 1.10000. Margin is 30,000 × 1.10000 ÷ 100 = $330, and each pip is worth $3.
- Trade B: buy 0.20 lot of GBP/USD at 1.25000. Margin is 20,000 × 1.25000 ÷ 100 = $250, and each pip is worth $2.
Total used margin is $330 + $250 = $580. Margin is held fixed here for simplicity.
Later, EUR/USD is down 100 pips and GBP/USD is down 60. Trade A shows 100 × $3 = −$300 and trade B shows 60 × $2 = −$120.
Equity is $1,000 − $420 = $580, the same as the used margin, so the level is 100%. The broker closes trade A, the bigger loser, and the balance becomes $1,000 − $300 = $700.
Trade B is still open. Equity is $700 − $120 = $580 against margin of $250, a margin level of $580 ÷ $250 × 100 = 232%.
Trade B would be closed only if equity fell to $250. That needs a floating loss of $700 − $250 = $450, which is 225 pips in total, or 165 pips more than now.
Brokers can use a different closing order, so read your broker's terms on how a stop out picks positions.
How a single level compares with a separate stop out
Put the first example next to a broker that sends the margin call at 100% but waits until 50% to close trades.
That broker starts closing when equity falls to half the used margin: $550 × 0.50 = $275. The loss by then is $1,000 − $275 = $725, which is $725 ÷ $5 = 145 pips, at 1.08550.
So the second broker warns at 1.09100 and closes 55 pips lower. The next lesson works through that two-level case in full.
That extra room costs money if the fall continues. At 1.08550 the second account has lost $725, which is $275 more than the single-level account lost at 1.09100.
At a broker with one 100% level, no separate warning arrives before the close, so any warning has to come from you. A stop loss placed well above the trigger price closes the trade at a loss you chose in advance, give or take slippage.
The margin calculator shows how much margin a trade will tie up before you open it. Sizing trades so margin is a small share of equity is covered in how to avoid a margin call.
أسئلة شائعة
Is a margin call at 100% the same as a stop out?
At a broker that uses one level, they happen together: the warning and the forced close come at the same margin level. At brokers with two levels, the margin call is only a warning and the stop out comes lower.
How do I work out the price where my trade will be closed?
Subtract used margin from equity to get the loss you can absorb, then divide by your pip value. In the example, ($1,000 − $550) ÷ $5 = 90 pips, so the trigger is 1.10000 minus 90 pips, which is 1.09100.
Do I lose my margin at a stop out?
Margin is part of your balance, set aside while a trade is open, so it is not taken as a fee. What you lose is the price move on the closed trade, plus any slippage and costs.
Can I lose more than my deposit with a 100% stop out?
A 100% level closes trades while equity still equals the used margin, so in normal markets some money is left. A price gap can fill the close much lower, and whether a negative balance is reset depends on your broker's policy, so check it.
تابع التعلّم
الفصل 6What is margin trading?Margin trading means opening a position worth more than the money in your account. The broker sets aside part of your balance, the margin, as a deposit while the trade is open. Profit and loss are counted on the full position size, so small price moves change your balance much faster than the margin suggests.
الفصل 6What is account balance in forex?Your account balance is the money in your trading account from deposits, withdrawals and closed trades, after booked costs such as commission and swap. It does not include open positions. While a trade is open the balance stays the same, and the floating profit or loss shows up in your equity instead.
الفصل 6What is floating (unrealized) profit and loss?Floating profit and loss is the result your open trades would show if you closed them at the current price. It changes with every tick and moves your equity, while your balance stays the same. It becomes realized, and is added to or taken from your balance, only when the trade closes.
الفصل 6ما هو الهامش ومستوى الهامش والإغلاق القسري في الفوركس؟الهامش هو جزء من أموالك تحجزه شركة الوساطة وديعةً طوال فترة فتح صفقة بالرافعة المالية. ومستوى الهامش هو حقوق الملكية مقسومة على الهامش المستخدم، مضروبة في 100%. وعندما ينخفض إلى مستوى نداء الهامش لدى شركة الوساطة يُوضع على حسابك تنبيه، وعند مستوى الإغلاق القسري تبدأ شركة الوساطة في إغلاق مراكزك تلقائيًا.
الفصل 6What is used margin?Used margin is the total amount your broker sets aside to keep all your open positions open. Each position's margin is its notional value divided by your leverage, and used margin adds them up. It is not a fee: the money returns to free margin when you close the trades.
الفصل 6What is equity in a trading account?Equity is your account balance plus or minus the floating profit or loss of your open trades. It shows what the account would be worth if you closed everything at current prices. With no trades open, equity equals balance. Brokers use it to work out free margin, margin level and stop outs.
الفصل 6What is free margin?Free margin is the money in your trading account that is not locked up as margin for open trades. It equals equity minus used margin. You need free margin to open new positions, and it falls as open trades lose and rises as they gain. At zero, your margin level is 100%.
الفصل 6What is margin level?Margin level is your equity divided by your used margin, multiplied by 100 and shown as a percentage. It tells you how much cushion your open trades have. At 100%, equity equals used margin and free margin is zero. Brokers set their margin call and stop out levels on this number, and the levels differ between brokers.
الفصل 6What is a margin call?A margin call is your broker's warning that your margin level, equity divided by used margin, has fallen to a set threshold such as 100%. You usually cannot open new trades from that point. The call closes nothing by itself. If losses continue, the broker's stop out level is where positions start to be closed for you.
الفصل 6What is a stop out level?The stop out level is the margin level at which your broker starts closing your open positions automatically, often beginning with the largest loss. If your stop out level is 50%, closing begins when equity falls to half your used margin. It is meant to stop your account sinking further, though a price gap can still push it below zero.
الفصل 6Margin call and stop out example: 100% and 50%.In this example a $2,000 account buys 1 lot of EUR/USD at 1.10000 with $1,100 of used margin. The margin call at 100% arrives when equity falls to $1,100, 90 pips lower at 1.09100. The stop out at 50% closes the trade when equity reaches $550, at 1.08550, a loss of $1,450.
الفصل 6What happens if you trade forex with $100?With $100 and 1:100 leverage, 0.01 lot of EUR/USD at 1.10000 uses $11 of margin and can move about 890 pips against you before a 100% margin call. At 0.05 lot the margin call comes after 90 pips, and 0.10 lot cannot be opened at all. Trade size decides how much room you have.
الفصل 6Why margin call and stop out levels differ between brokers.Margin call and stop out levels are set by each broker, often per account type, within any rules from the regulator that licenses the account. In this lesson's example, one trade is closed after 90 pips at one broker and after 178 pips at another, so look up your own levels before you trade.
الفصل 6ما هي الرافعة المالية في الفوركس؟تتيح لك الرافعة المالية التحكم في مركز أكبر بكثير من إيداعك. فعند رافعة 1:100، يتحكم كل $1 من الهامش في $100 من العملة، لذا يحتاج مركز قيمته $110,000 إلى $1,100. وتحدد الرافعة مقدار الهامش المحجوز، لا قيمة النقطة. أما خطرك الحقيقي فيأتي من حجم المركز الذي تختاره.
الفصل 6Margin cheat sheet.Balance is the cash from deposits, withdrawals and closed trades. Equity is balance plus the floating profit or loss on open trades. Used margin is the deposit your open trades hold, and free margin is equity minus used margin. Margin level is equity divided by used margin, times 100. A margin call warns; a stop out closes trades.
الفصل 6How can you avoid a margin call?Margin level is your equity divided by your used margin, and a margin call comes when it falls to your broker's threshold. To stay clear, keep positions small compared with your equity, set stop losses that close losing trades long before that point, and leave plenty of free margin unused.
