Distinguish between broker leverage and actual leverage. Calculate exactly how many times your capital is currently exposed to the market.
Broker leverage (e.g. 1:500) is just a limit on how much you *can* trade. Effective Leverage is how much you are *actually* trading.
If you have $1,000 and open a position worth $10,000, your effective leverage is 10x, regardless of whether your broker allows 1:50 or 1:500.
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Explore related calculators to sharpen your edge
Calculate net profit/loss for any currency pair trade in your account currency
Calculate the dollar value of a pip for any lot size and currency pair
Calculate the optimal lot size based on your risk percentage and stop loss
Calculate required margin and leverage impact for forex positions