What am I missing?

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I just created a demo account with INGOT Brokerage on MT5. The demo provides a single leverage option of 1:100. 

I deposited $10,000 and decided to use most of my margin which I assumed to be $1,000,000 based on the broker leverage.

At the time, the stock was trading at $2030 (10 shares/lot) so I decided to buy 10 lots (the maximal amount). which makes the position value =  $203,000 ($2030 * 10 shares * 10 lots)


MT5 complained that I didn't have enough money. It would only allow me to buy 4 lots.


Are my calculation wrong? Am I missing something?

 
Zaid Amir:

I just created a demo account with INGOT Brokerage on MT5. The demo provides a single leverage option of 1:100. 

I deposited $10,000 and decided to use most of my margin which I assumed to be $1,000,000 based on the broker leverage.

At the time, the stock was trading at $2030 (10 shares/lot) so I decided to buy 10 lots (the maximal amount). which makes the position value =  $203,000 ($2030 * 10 shares * 10 lots)


MT5 complained that I didn't have enough money. It would only allow me to buy 4 lots.


Are my calculation wrong? Am I missing something?

well some times broker it self got some limitations. it may be possible to disable it some time and it may be not.
 
Zaid Amir:

I just created a demo account with INGOT Brokerage on MT5. The demo provides a single leverage option of 1:100. 

I deposited $10,000 and decided to use most of my margin which I assumed to be $1,000,000 based on the broker leverage.

At the time, the stock was trading at $2030 (10 shares/lot) so I decided to buy 10 lots (the maximal amount). which makes the position value =  $203,000 ($2030 * 10 shares * 10 lots)


MT5 complained that I didn't have enough money. It would only allow me to buy 4 lots.


Are my calculation wrong? Am I missing something?

sometimes there are time limitations, especially in stock trading. in some hours of the day the leverage decrease. 

Also, you should consider the spreads or commissions.

 
Amirhossein Atabzadeh:

sometimes there are time limitations, especially in stock trading. in some hours of the day the leverage decrease. 

Also, you should consider the spreads or commissions.

Hi Zaid Amir, since this is a demo account, you may try next time you experience that limitation to save a screenshot of the "TRADE" tab where you see the operations, BEFORE opening the new position.  Intention is that you could check your "margin", "Free margin", and "Margin level".  Then after opening the position with the amount allowed, check again those 3 fields.  Sometimes "margin" secured by the broker is higher due to volatility or other conditions.  Some brokers may limit "Margin level" to be higher than 100% before opening a new position.  

Worst case, you would start to get familiar with the margins your brokers actually request.

PD: "margin" and "Free margin" are found in the bottom line of the trade positions along with your "Balance" and "Equity".

 
Try to check specification of the symbol.
 

I take it you are new to trading online with MT5.  I suggest you try trading with the minimum lot for a month or two so you can make more than one trade just in case you are like the 90% of new traders who blow out their account almost immediately.

Trading the minimum lot for a while will allow you to see the margin requirements and how the system works.

Good Chinese saying:  "Never test the water with both feet."
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
To obtain the current market information there are several functions: SymbolInfoInteger(), SymbolInfoDouble() and SymbolInfoString(). The first parameter is the symbol name, the values of the second function parameter can be one of the identifiers of ENUM_SYMBOL_INFO_INTEGER, ENUM_SYMBOL_INFO_DOUBLE and ENUM_SYMBOL_INFO_STRING. Some symbols...
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