"not enough money" message

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Newbie question I know..trying to place a leveraged buy order for stock RNG.N. Current ask price is at 32,950. Account balance is 103€ with the same free margin (no other open positions) and a 1:200 leverage. For 50 stocks this should be enough, right? Stop loss is not set. Still getting the "not enough money" message when trying to place it. Thanks!
 
pako81:
Newbie question I know..trying to place a leveraged buy order for stock RNG.N. Current ask price is at 32,950. Account balance is 103€ with the same free margin (no other open positions) and a 1:200 leverage. For 50 stocks this should be enough, right? Stop loss is not set. Still getting the "not enough money" message when trying to place it. Thanks!

Hi, I made a max volume calculation tool which helps you avoid getting this message forever as it will show you the max permitted lot size. It's a script free to download.

Keep in mind that the lot sizes one might use in forex are much different than a lot size for stocks or indices. Because forex has its own contract size and it's on a separate exchange. My tool will work on any security aside from deriv synthetics
 
pako81: Newbie question I know..trying to place a leveraged buy order for stock RNG.N. Current ask price is at 32,950. Account balance is 103€ with the same free margin (no other open positions) and a 1:200 leverage. For 50 stocks this should be enough, right? Stop loss is not set. Still getting the "not enough money" message when trying to place it. Thanks!

The account leverage and the individual margin requirements of each symbol can be different, especially for stocks.

Look at the contract specifications of the symbol and see what the margin requirements are for it. You may have both an Initial Margin and a Maintenance Margin, so consider both if you plan to hold the stock for longer.

 
Your topic has been moved to the section: Trading stocks, futures, options and other exchange instruments
Please consider which section is most appropriate — https://www.mql5.com/en/forum/172166/page6#comment_49114893
 

Thanks for your replies and sorry for choosing the wrong section. Current margin settings are following.


 
pako81: Account balance is 103€ with the same free margin (no other open positions) and a 1:200 leverage. For 50 stocks this should be enough, right? Stop loss is not set.
pako81 #:  Current margin settings are following.

So for 50 Lots, that would be 50 * 6€ = 300€ for the initial margin. That is more than your 103€ balance. Hence the message "not enough money" !

EDIT: You should never open a position with volume only considering the margin. You should first consider the position size based on the planned stop-loss, then check it against the margin as well.

Usually, if you size it based on the stop-loss, it normally is already within the margin requirements, but not always. So always calculate the volume based on both conditions, and choose the lesser of the two calculated volumes.

 
Fernando Carreiro #:

So for 50 Lots, that would be 50 * 6€ = 300€ for the initial margin. That is more than your 103€ balance. Hence the message "not enough money" !

he might be able to open the 0.01 lot size depending on his account leverage

 
pako81:
Newbie question I know..trying to place a leveraged buy order for stock RNG.N. Current ask price is at 32,950. Account balance is 103€ with the same free margin (no other open positions) and a 1:200 leverage. For 50 stocks this should be enough, right? Stop loss is not set. Still getting the "not enough money" message when trying to place it. Thanks!
Your balance is lower than the margin required for this deal. You need to create a deal with a smaller lot size that meets the allowed margin requirements. However, I recommend using a smaller lot size (e.g., 0.01 lot) if your balance is limited. Using a large lot size relative to your account balance can lead to a margin call quickly, putting you at risk of losing all your funds.
 
Conor Mcnamara #:
Hi, I made a max volume calculation tool which helps you avoid getting this message forever as it will show you the max permitted lot size. It's a script free to download.

Keep in mind that the lot sizes one might use in forex are much different than a lot size for stocks or indices. Because forex has its own contract size and it's on a separate exchange. My tool will work on any security aside from deriv synthetics

Thanks Mcnamara for your new invention. 

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