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MCX Margin Calculator

MCX Margin Calculator

Calculate SPAN & exposure margin for Gold, Silver, Crude Oil & Natural Gas commodity futures on MCX India.

Commodity Selection
Contract Parameters
Approximate — enter actual CMP for precise calculation
Margin Rates (%)
SPAN margins are approximate SEBI minimums. Actual rates are set daily by MCX risk management. Always verify with your broker.
Total Margin Required
₹3,10,000
SPAN ₹2,48,000 + Exposure ₹62,000
Contract Value ₹62,00,000
SPAN Margin (4%) ₹2,48,000
Exposure Margin (1%) ₹62,000
Margin as % of Contract 5.00%
Max Lots at ₹1 Lakh Capital 0 lots
Max Lots at ₹5 Lakh Capital 1 lot
Max Lots at ₹10 Lakh Capital 3 lots
For ₹1 Lakh capital, you cannot trade Gold futures (margin exceeds capital). Consider Gold Mini or Gold Guinea instead.
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What Is MCX Margin and How Is It Calculated?

Trading commodity futures on the Multi Commodity Exchange (MCX) requires placing an initial margin before opening any position. So every trade has two main components: SPAN margin and exposure margin.

SPAN (Standard Portfolio Analysis of Risk) margin covers the maximum portfolio loss calculated by SEBI risk algorithms. Meanwhile, exposure margin acts as an extra buffer against extreme market swings. Together, these form your total initial margin.

For example, trading 1 lot of Gold (1 kg) at ₹62,000 per 10 grams creates a contract value of ₹62 Lakhs. With a 4% SPAN margin (₹2,48,000) and 1% exposure margin (₹62,000), your total required margin is ₹3,10,000. So our mcx margin calculator helps you plan exact capital needs for every commodity.

MCX Margin vs NSE F&O Margin — Key Differences

Commodity margin rules differ from equity futures margin in leverage ratios, trading hours, and delivery terms. Here is how MCX trading compares directly with NSE equity derivatives.

Feature MCX Commodity F&O NSE Equity F&O
Underlying Assets Gold, Silver, Crude Oil, Natural Gas, Metals Nifty 50, Bank Nifty, Stock Futures
Typical Margin Range 5% to 12% of contract value 12% to 25% of contract value
Trading Hours 9:00 AM to 11:30 PM (11:55 PM in US DST) 9:15 AM to 3:30 PM
Settlement Type Physical delivery (Gold/Silver) & Cash settled Physical delivery for stock F&O, Cash for indices
Taxation Commodity Transaction Tax (CTT 0.01%) Securities Transaction Tax (STT 0.125%)

How to Use This Calculator for Position Sizing

Successful trading depends on strict position sizing. Never deploy your entire account balance into a single commodity lot, because market spikes can trigger margin calls.

We recommend keeping a buffer of at least 30% above the required initial margin. Check your overall risk using our Position Size Calculator before entering any trade. You can also estimate total trading costs with our Indian Stock Brokerage Calculator.

How It Works in 4 Steps

1

Select Commodity

Choose Gold, Silver, Crude Oil, Natural Gas, or Metals from the dropdown menu.

2

Set Contract Price

Accept the pre-filled CMP or enter your broker’s current live market price.

3

Adjust Lot Count

Slide or enter the number of lots you plan to trade on MCX.

4

Review Breakdown

View total margin required, SPAN vs exposure split, and max lots for your capital.

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Frequently Asked Questions

How is MCX margin calculated for Gold futures?
Multiply lot size (100 for 1kg) by current price per 10 grams, then apply the combined SPAN (4%) and exposure (1%) percentage. So 1 lot of Gold at ₹62,000 requires ₹3,10,000 margin. Always check your overall account risk using our Position Size Calculator before placing orders.
What is the difference between SPAN and exposure margin on MCX?
SPAN margin covers potential portfolio risk evaluated by SEBI risk algorithms. Exposure margin is a mandatory extra buffer against unusual volatility. You must maintain both margins in your account to hold overnight positions. Compare this with equity F&O using our SPAN Margin Calculator F&O.
How much capital is needed to trade 1 lot of Crude Oil on MCX?
At a CMP of ₹5,800 per barrel, 1 lot of Crude Oil (100 barrels) has a contract value of ₹5,80,000. With a 7% SPAN and 2% exposure margin (total 9%), you need ₹52,200 initial margin. Always verify your stop-loss buffer with our Position Size Calculator.
Does MCX margin change every day?
Yes — SPAN margin percentages update at least 5 times daily based on price volatility and international market movements. So during sharp price spikes, MCX may levy additional special margins. Track overall market momentum using our Momentum Stock Screener.
What is CTT on MCX commodity trading?
Commodity Transaction Tax (CTT) is levied by the Government of India on non-agricultural commodity futures at 0.01% on the sell side. Calculate your exact CTT and broker charges using the Zerodha Brokerage Calculator.
Can I calculate margin for Natural Gas futures?
Yes — our calculator includes Natural Gas (1,250 mmBtu lot size). At ₹210 per mmBtu, contract value is ₹2,62,500. With 10% SPAN and 2% exposure margin, required capital is ₹31,500. Calculate all transaction costs with our Indian Stock Brokerage Calculator.

Regulatory Reference: Multi Commodity Exchange of India (MCX) is regulated by the Securities and Exchange Board of India (SEBI). Commodity margins are determined according to SEBI circulars on risk management framework for commodity derivatives (SEBI/HO/CDMRD/DRMP/CIR/P/2019/149). CTT rates apply under Chapter VII of the Finance Act 2013. SPAN® is a registered trademark of Chicago Mercantile Exchange used under license.