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Notional Value Calculator

See the full market value of a position in your account currency and the effective leverage it puts on your balance.

Reference price filled in — type to use your own.

Contract specs: 1 lot = 100,000 units

Standard forex lots are 100,000 units of the base currency. Check the contract specification in your broker's platform (MT4/MT5: right-click the symbol → Specification).

lots
USD

Optional. Shows the effective leverage of this position.

Position value

$111,949.49

1.00 lots EUR/USD

Units

100,000

units

Effective leverage

1:11.19

position value ÷ $10,000.00

Show the math
  1. Position value in USD1.00 lots × 100,000 × 1.11949 = 111,949.49 USD
  2. Effective leverage$111,949.49 ÷ $10,000.00 = 11.1949, written 1:11.19

Rates from ECB, gold-api.com, CoinGecko, FX reference 2026-10-14, checked 02:42 UTC. Use your broker's live quote to trade.

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Quick answer

Position value = lots × contract size × price, in the quote currency, converted to your account currency. One standard lot of EUR/USD at 1.1000 is $110,000; in a $10,000 account that is 1:11 effective leverage, whatever leverage the broker allows.

Worked examples: Leverage & margin

What is the Notional Value Calculator?

Position value — also called notional value or exposure — is the full market value of a position: the amount of the instrument you control, valued at the current price. It is the figure profit and loss move on, and it is much larger than the margin a leveraged account puts up.

Position value = Lots × Contract size × Price (in the quote currency), converted to your account currency
Effective leverage = Position value ÷ Account balance

One standard lot of EUR/USD at 1.1000 is €100,000, worth $110,000. In a $10,000 account that is 1:11 effective leverage, whatever maximum leverage the broker offers. A 1% move in EUR/USD changes the position's value by $1,100, or 11% of the account.

How to use this calculator

  1. Instrument and Account currency — a conversion rate field appears when one is needed, with a reference rate filled in.
  2. Price — a reference price is filled in; enter your broker's price to use it. For indices and oil the filled-in value is an example.
  3. Position size (lots).
  4. Account balance (optional) — fill it in to see the effective leverage.

The result shows the position value in your account currency, the value in the quote currency when it differs, the size in units, and the effective leverage. Adjust contract sizes under Contract specs; Show the math and Copy link with these numbers are below the result.

Worked example

EUR/USD, USD account. 1 lot × 100,000 × 1.1000 = $110,000. With a $10,000 balance, effective leverage is 1:11.

EUR/GBP, USD account. 1 lot at 0.8800 = £88,000. At GBP/USD 1.25 that is $110,000.

USD/JPY, USD account. 1 lot at 150.00 = ¥15,000,000, which is $100,000 — the base currency is the dollar.

Gold. 0.5 lots = 50 oz × $2,000 = $100,000.

NAS100. 1 contract at 24,500 = $24,500.

When to use it

  • Checking real exposure — how much you control relative to your balance.
  • Adding up open positions — total notional across trades shows the overall leverage.
  • Comparing instruments — one lot of gold is a very different exposure from one lot of EUR/USD.

Common mistakes

  • Confusing position value with margin. Margin is a fraction of the position value; losses are calculated on the full value.
  • Reading the quote-currency amount as account currency. 1 lot of USD/JPY is ¥15,000,000, not $15,000,000.
  • Judging risk by broker leverage. Effective leverage — position value ÷ balance — is what determines how much a move affects the account.

Frequently asked questions

What is the difference between position value and margin?

Position value is the full market value of the trade. Margin is the deposit the broker holds to keep it open: position value ÷ leverage. One lot of EUR/USD at 1.10 is $110,000 of exposure but needs only $3,666.67 of margin at 1:30.

Does position value change as price moves?

Yes. It is recalculated at the current price, and also changes with the exchange rate if your account currency differs from the quote currency.

What is effective leverage?

Position value divided by your balance. $110,000 of exposure in a $10,000 account is 1:11 effective leverage, so a 1% move in the instrument changes the account by about 11%.

How do I value an index or oil position?

Choose the instrument and enter your broker's current price; the filled-in value for indices and oil is only an example. With 1 contract per lot, one lot of NAS100 at 24,500 is $24,500.

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