Deposit of $1000 per lot, indicating the establishment of 1 lotLondon GoldThe prepayment standard that needs to be occupied for the current position. It is not a loss cap, nor is it the full value of this transaction. Treating margin as' losing at most this much 'can easily underestimate the risk of a position.

The margin solves the threshold for opening a position

Wmax · 威马证券's current London gold margin is calculated starting at $1000 per lot. After establishing 1 lot, this portion of funds will be used to maintain the position.

The subsequent market price will determine the floating profit and loss.

Profit and loss depend on price changes and contract units

One lot of London gold corresponds to 100 ounces.

If gold changes by $10 in an unfavorable direction, the theoretical floating loss per lot is about $1000; A change of $20 results in a theoretical floating loss of approximately $2000.

So the loss amount will not automatically stop there just because the margin is $1000.

Compulsory liquidation does not only occur after losing the margin

The system will manage risks based on account net value, used prepayments, and prepayment ratio. The current forced leveling conditions will be executed according to the trading rules.

If there are other funds in the account, the position may still exist even after the floating loss exceeds the single margin; If the account buffer is small, it may also trigger risk conditions earlier.

Why is it easy for people to misjudge the minimum margin

Users often see '0.01 lots only occupy a small margin' and think that the risk is also very low.

A more practical view is to first calculate how many ounces correspond to 0.01 lots, and then calculate how much the account will change if the price goes in an unfavorable direction of $10 or $20.

The higher the margin utilization rate, the better

Using most of the funds in the account to occupy the margin means that there are very few available prepayments. Normal market fluctuations may cause a rapid decrease in the prepayment ratio.

Leave a buffer, it seems that the funds have not been fully utilized, but the account will be more relaxed.

The issue addressed by margin is whether it is possible to open a position

The current London gold margin for Wmax · 威马证券 is $1000 per lot. This $1000 is the margin standard required to establish a 1-lot position to support current open orders. It does not mean a stop loss, nor does it mean the platform locks the maximum loss at $1000.

After the order is established, the price of gold will continue to change. 1 lot corresponds to 100 ounces, and for every unfavorable change in gold price by 1 dollar, the theoretical floating loss is about 100 dollars; A change of 10 US dollars is about 1000 US dollars; Change by $20 to approximately $2000. It can be seen that the amount generated by market fluctuations may completely exceed the single hand margin value.

Why low margin makes accounts more sensitive

The characteristic of margin trading is to occupy a larger nominal contract value with smaller funds. Assuming the gold price is $4300, the nominal value of one lot is about $430000, and the current margin is $1000. A relatively small percentage change in price may result in a significant profit or loss in the account.

That's also why we can't treat the "minimum margin" as a "suggestion to only prepare so much money". If almost all of the account funds are occupied by margin, there will be very little room for normal market fluctuations.

What should really be considered is the net worth and prepayment ratio

After holding a position, account risk is more suitable to look at net asset value, used prepayments, available prepayments, and prepayment ratio. An increase in floating losses will lower net worth, and the proportion of prepayments will also decrease. When the mandatory liquidation standard specified by the platform is reached, the system will process the position according to the rules.

The current standard for Wmax · 威马证券's regular forced leveling prepayment ratio is ≤ 30%, and the weekend rules are stricter, with the current standard being ≤ 200%. These parameters may be adjusted, and the actual transaction details shall prevail.

Stop loss is the risk boundary tool you set for yourself

If you want to keep the theoretical risk of a trade within a certain amount, you can calculate it in advance based on the stop-loss distance and lot size. For example, 0.1 lot of gold is about USD 10 per USD 1 move; with a stop-loss distance of USD 20, the corresponding theoretical price risk is about USD 200.

This figure is closer to the risk the trade plan actually intends to take than “USD 100 of margin used.” Margin is for capital usage, while stop-loss and position sizing are for risk control; keep the two separate.

Keep a buffer in account funds

Markets do not move in a straight line. Even if the final direction is correct, a significant drawdown may occur first. Keeping available funds allows the account to withstand normal volatility and reduces situations where positions have to be handled reactively due to insufficient margin.

Risk warning: Margin trading may result in partial or total loss of principal. Minimum margin does not equal the recommended investment amount and does not represent maximum loss.

留有缓冲，看起来没有把资金“用满”，但账户会更从容。

保证金解决的是“能不能开仓”

Wmax · 威马证券当前伦敦金保证金为1000美元/手。这个1000美元是建立1手仓位时需要占用的保证金标准，用来支持当前未平仓订单。它不等于止损，也不等于平台把最大亏损锁定在1000美元。

订单建立以后，黄金价格仍会持续变化。1手对应100盎司，金价每向不利方向变化1美元，理论浮亏约100美元；变化10美元约1000美元；变化20美元约2000美元。可以看到，市场波动产生的金额完全可能超过单手保证金数值。

为什么保证金低会让账户更敏感

保证金交易的特点是用较小资金占用对应较大的名义合约价值。假设金价4300美元，1手名义价值约43万美元，而保证金当前为1000美元。价格只需出现相对不大的百分比变化，账户盈亏金额就可能很明显。

这也是为什么不能把“最低保证金”当成“建议只准备这么多钱”。如果账户资金几乎全部被保证金占用，留给正常行情波动的空间会很小。

真正应该看的是净值和预付款比例

有持仓以后，账户风险更适合看净值、已用预付款、可用预付款和预付款比例。浮亏增加会压低净值，预付款比例也会下降。达到平台规定的强制平仓标准时，系统会按照规则处理仓位。

Wmax · 威马证券当前常规强平预付款比例为≤30%，周末规则更严格，现行标准为≤200%。这些参数可能调整，实际以最新交易细则为准。

止损才是你自己设定的风险边界工具

如果希望把一笔交易的理论风险控制在某个金额，可以根据止损距离和手数提前计算。比如0.1手黄金每1美元约10美元，止损距离20美元，对应理论价格风险约200美元。

这个数字比“用了100美元保证金”更接近这笔交易计划真正想承担的风险。保证金负责资金占用，止损和仓位负责风险控制，两者不要混在一起。

账户资金要留缓冲

市场不会按直线运行。即使最终方向判断正确，中间也可能先出现较大回撤。留出可用资金，能让账户承受正常波动，也减少临时因为预付款不足而被动处理仓位的情况。

风险提示：保证金交易可能造成部分或全部本金损失。最低保证金并不等于建议投入金额，也不代表最大亏损。