How far can price go against you before the broker closes it?
Margin decides how much of the account a position locks up. The stop-out level decides who closes the trade — you, or your broker. This tool works out both, and says which one gets there first.
Diagnosis
Margin on its own is just an amount locked up. These checks turn it into a judgement: can this position survive an ordinary adverse move, and is your stop loss still the thing that decides the loss?
Who closes the trade
A stop loss only limits the loss if it is reached first. When the stop-out sits closer than the stop, the broker decides the exit and the size of the loss — not you.
Why this is the real limit
Risk calculators assume the stop loss is what closes a losing trade. That assumption quietly fails on a heavily margined account: the stop-out arrives earlier, at a distance nobody chose, and the realised loss is whatever the market happened to be doing at that moment. Sizing so the stop stays in front restores the assumption every other calculation on this site depends on.
What leverage actually changes
Higher leverage ties up less margin. It does almost nothing for how far price can go against you, because the loss that closes you out comes out of equity either way.
| Leverage | Margin | Free margin | Margin level | Room (pips) | Use |
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How this is calculated
Margin required is the position's notional value divided by the leverage, converted to your account currency: lots × contract size × price ÷ leverage. It is not a cost and it is not at risk — it is collateral held while the position is open, and it comes back when you close.
The margin level is equity ÷ used margin × 100. As a position moves against you the equity falls, so the level falls with it. When it touches the broker's stop-out level, positions are closed automatically — the distance shown here is how many pips of adverse movement that takes.
Leverage does not change what a trade can lose; lot size and stop distance do. What it changes is how much collateral is parked against the position, and therefore how much equity is left free to absorb a drawdown. The danger is indirect: cheap margin makes it easy to open a size the account could not otherwise carry.
Nothing is uploaded. Every number on this page is computed in your browser, and the link you copy carries only the values you typed.
Related tools
Brokers differ on the details: some apply a margin call before the stop-out, some close the largest loser first while others close everything at once, and hedged positions may use reduced margin. Treat the output as this position seen on its own, on a normal day.