MCX Margin Calculator 2026: How Much Do You Need to Trade?
Live SPAN margin estimates for all MCX contracts — Gold, Silver, Crude Oil, Copper, Zinc, Aluminium, Lead, and Nickel. Updated daily with live MCX prices.
Precious Metals
SPAN margin is approximate. Check your broker's margin calculator for exact live requirements. Prices are from the latest MCX snapshot.
Energy
SPAN margin is approximate. Check your broker's margin calculator for exact live requirements. Prices are from the latest MCX snapshot.
Base Metals
SPAN margin is approximate. Check your broker's margin calculator for exact live requirements. Prices are from the latest MCX snapshot.
How to Read This Table
Contract Value is what one lot of that commodity is worth in rupees — this is not what you pay. You pay only the SPAN margin, which is typically 4–9% of contract value depending on the commodity's volatility.
P&L per 1% move is how much you gain or lose if the commodity price moves by exactly 1%. Since you only deposited the margin (not the full contract value), your actual return on margin is much higher — this is leverage.
SPAN Margin vs Total Margin Required
The values above are SPAN (initial) margin — the exchange-mandated minimum to open a position. Your broker may collect an additional exposure margin (3–5% of contract value) on top of SPAN. So if SPAN is ₹65,000 and exposure is ₹45,000, your broker's total requirement is ₹1.1 lakh.
SEBI regulations allow brokers to determine exposure margin. Discount brokers (Zerodha, Angel One, Upstox) typically charge close to the exchange minimum. Full-service brokers may charge higher buffers.
MTM and the Margin Trap Most Beginners Fall Into
The rule every experienced MCX trader follows: always keep 20–30% buffer above the SPAN margin. If SPAN is ₹65,000, keep at least ₹85,000 in your account. This buffer absorbs one bad day without triggering forced squareoff.
Which Contract Is Right for Your Capital?
Frequently Asked Questions
How much margin do I need to trade MCX Gold Mini?
MCX Gold Mini (100g) requires approximately ₹55,000–₹75,000 in SPAN margin at mid-2026 gold prices. The contract value at ₹1,52,000/10g is approximately ₹15.2 lakh (100g × ₹1,52,000 ÷ 10). The SPAN margin is roughly 4–5% of contract value. A 1% gold move = ₹15,200 P&L on your ₹65,000 margin — that is 23× leverage.
How much margin is needed for MCX Crude Oil Mini?
MCX Crude Oil Mini (10 barrels) requires approximately ₹3,000–₹5,000 SPAN margin at mid-2026 prices of ~₹7,100/bbl. Contract value is ₹71,000. A 1% crude move = ₹710 P&L. Crude Oil Mini is the most accessible MCX contract by margin. The standard 100-barrel contract needs ₹30,000–₹45,000.
What is the difference between SPAN margin and exposure margin?
SPAN margin (also called initial margin) is the minimum you must deposit to open an MCX position — calculated daily by the exchange based on price volatility. Exposure margin is an additional buffer your broker may collect, typically 3–5% of contract value on top of SPAN. Total margin = SPAN + exposure margin. Many brokers charge only SPAN at position open but require total margin to avoid MTM shortfall alerts.
What happens if my MCX account falls below minimum margin?
If your available balance falls below the required SPAN margin, your broker will issue a margin call. If you do not top up within the stipulated time (usually by the next morning), the broker will square off your position — called forced squareoff. To avoid this: always maintain 20–30% buffer above minimum margin. MCX MTM (Mark to Market) loss is debited from your account every evening, not at expiry.
Is MCX margin the same for all brokers?
The SPAN margin set by MCX is the same across all SEBI-registered brokers — it is exchange-mandated. However, brokers can and do charge additional exposure margin (typically 3–5%), which varies by broker. Discount brokers like Zerodha and Angel One typically charge SPAN + exposure margin at the exchange-set rate, while some full-service brokers charge a higher buffer. The most accurate number is always from your broker's SPAN calculator updated daily.
Disclaimer: Margin values are estimates based on typical MCX SPAN rates and current prices. Actual margin requirements vary daily and by broker. This is educational content only — not investment advice. Commodity trading involves substantial risk of loss. Please verify with your broker before trading.