Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Forex margins

Our tiered margining system means we can offer rates that remain competitive while reflecting the size of your position and associated liquidity of the market.

What is margin in spot forex trading?

Margin trading gives you full exposure to a market using only a fraction of the capital you’d normally need.

Margin is the amount of money you need to open a position, defined by the margin rate.

For example: if you were to buy $1000-worth of currency through a traditional broker, you’d need to pay the full $1000 upfront (plus the associated broker charges).

As rolling spot forex is a leveraged product, you don’t need to pay the full value of your exposure in order to trade. Instead, you’ll only need to put up a fraction of your total exposure to open your position.

When trading on margin, it's important to be aware that your risk is based on the full value of your exposure. Using leverage means that you can incur increased losses, which can exceed your deposits.

There are two types of margin to consider in forex trading:

Initial margin

The initial margin is the minimum amount you’ll need to put up to open a position. It is sometimes called the deposit margin, or just the deposit.

Maintenance margin

The maintenance margin, also known as variation margin, is additional funds that may be required from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses.

Our forex margin requirements

Here's a summary of our margin requirements for some of our most popular markets.

Larger positions may occasionally be subject to higher rates. See each market's charges and costs in our platform for full details.


Margin per contract



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Things to remember

  • Ensure you have enough funds in your account to cover both margin and losses. Remember, if you have insufficient funds you may be put on margin call.

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