How is Cash Used (Margin) calculated on Skilling Trader?

First, it is important to distinguish between Base Currency (aka Primary) and Term Currency (aka Secondary or Quote).

GOLDEN RULE

Cash Used is always denominated in the Base Ccy*

*If your account currency is in a different currency than the Base Currency, then it will be converted to your account currency.

The formula is as follows:

Units (or Amount) x Margin%,

or, Units / Leverage

Example

1. If you want to Buy 100,000 EURUSD with a margin percentage of 0.5%, then it is simply                100,000 x 0.5%= 500 EUR
2. If I want to Buy 100,000 USDJPY with a margin percentage of 0.5%, then it is simply               100,000 x 0.5% = 500 USD

The final amount though depends on your account’s currency.

If your account currency is in EUR, then in the 1st example you’ll need 500 EUR as a margin, while in the 2nd example, you'll have to convert the 500 USD into EUR.