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Single currency margin means the margin for all your trades is worked out and held in one currency, the one your account is in, whatever pairs you trade. The other way, per-currency margin, holds a separate deposit for each currency in your positions.
Under single currency margin your broker turns the margin for each position into your account currency at today’s rate. A trader with a dollar account who trades EUR/GBP, USD/JPY and gold sees one margin figure in dollars. That is how nearly every retail forex broker and MetaTrader account works.
Some prime brokers and exchanges use per-currency margin. Each position is margined in its own currency, and you can post cash in several currencies. That suits banks and funds that already hold those currencies. It is rare in retail trading.
You hold a euro account and open a mini lot of USD/JPY. The margin is 3.33% of $10,000, or $333. Under single currency margin the broker takes about 303 euros at a EUR/USD rate of 1.10. If the euro then weakens, the same $333 costs more euros, so your used margin rises even though the trade has not moved. That small exchange rate effect is the one thing to watch.
It is simple, and it makes free margin and margin level easy to read. It also means the currency you pick for your account touches every trade. Pick the one you fund and withdraw in, and know that margin on foreign pairs moves with the exchange rate.
See base currency for the account currency choice and leverage for how the margin percentage is set.
Yes. Nearly every retail broker and every MetaTrader account works this way. Per-currency margin is found at prime brokers and exchanges.
There is no fee. The broker uses its own rate to convert, and margin on pairs that do not include your account currency rises and falls with the exchange rate.
Sources: MetaTrader margin calculation rules and broker account terms, checked 25 September 2026. Checked 25 September 2026.
Risk warning: trading forex and CFDs on margin carries a high risk of losing money. Most retail accounts lose money. Never trade with money you cannot afford to lose.