MT4 leverage is not set inside the platform: your broker fixes it at account level. MetaTrader 4 simply applies it to calculate the margin locked up by each order. To change it, you go through the broker’s client portal (live account) or choose it when you open a demo account.
This guide explains how leverage works on MetaTrader 4 and 5, how to calculate margin, where to change your leverage step by step, and which limits apply depending on the entity that holds your account.
What is leverage on MetaTrader 4?
Leverage is the ratio between the size of the position you open and the margin your broker locks up on your account. With 1:30 leverage, €1,000 of margin lets you open a €30,000 position. With 1:100, the same margin covers €100,000.
Leverage changes neither the pip value nor the profit or loss per point: those depend only on position size, in lots. What it changes is the amount of capital tied up, and therefore the free margin you have left to absorb price swings or open other positions. This applies to MetaTrader 4 leverage and MetaTrader 5 leverage alike: the mechanism is the same on both platforms.
To get started with the platform itself, see our MT4 guide and our complete MetaTrader guide.
If this topic interests you, also read “Topic Markets review 2026” and “Trader psychology”.
Margin, free margin and margin level: reading MT4 leverage in the terminal
In MT4, the Trade tab of the Terminal window shows five values at the bottom that are driven by leverage:
| Value | What it shows |
|---|---|
| Balance | The money in the account, excluding open positions |
| Equity | The balance plus or minus unrealized profits and losses |
| Margin | The amount locked up to keep positions open, calculated using leverage |
| Free margin | Equity minus margin: what is still available |
| Margin level | Equity ÷ margin × 100, as a % |
Margin level is the number to watch. When it falls below the broker’s margin call threshold, you can no longer open positions; below the stop-out level, the server closes positions automatically, usually starting with the biggest loser. At Vantage, these thresholds are 50% (margin call) and 20% (stop out) on STP and ECN accounts.
Test leverage settings risk-free: the Vantage MT4 or MT5 demo lets you choose your leverage and virtual balance, then change them from the client portal. Open an account with Vantage
How to calculate margin based on leverage: formula and examples
For a currency pair, required margin is calculated as follows:
Margin = contract size × number of lots ÷ leverage (in the pair’s base currency, then converted into your account currency).
One standard lot of EUR/USD represents €100,000. Here is the margin locked up for 1 lot at each leverage level:
| Leverage | Margin for 1 lot EUR/USD | Margin for 0.10 lot | Margin for 0.01 lot |
|---|---|---|---|
| 1:10 | €10,000 | €1,000 | €100 |
| 1:30 | €3,333 | €333 | €33 |
| 1:100 | €1,000 | €100 | €10 |
| 1:500 | €200 | €20 | €2 |
On a USD account, MT4 converts these amounts at the current rate: at 1.10, €3,333 of margin is roughly $3,667. For CFDs on indices, commodities or shares, the formula includes the instrument’s price: contract size × lots × price ÷ leverage. Some instruments have fixed leverage, regardless of your account leverage: you will find it in the symbol specification (right-click in Market Watch, then “Specification”), on the margin percentage line.
Can you change leverage in MetaTrader 4?
No, not from the terminal. MT4 has no menu for changing the leverage of a live account: the setting is stored on the broker’s server. There are three scenarios:
- Live account: you request the change in the broker’s client portal or through its support team.
- Demo account opened from MT4: you choose the leverage in the account opening wizard (File > Open an Account). To change it, open a new demo with a different leverage.
- Demo account opened with the broker: some brokers, such as Vantage, let you change demo leverage from the client portal.
Once the leverage has been changed on the broker’s side, the new value is applied to margin calculations in MT4, usually without reinstalling anything. If the figures do not update, log out and log back in to the account.
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At Vantage, you can change leverage from the client portal or the app once the account is funded.
From the client portal (live account)
- Log in to the Vantage client portal.
- Click Account, then Live account.
- Click the gear icon next to the account in question.
- Select Change leverage.
- Pick the leverage you want from the options offered and save.
From the Vantage app
- Open the Orders tab.
- Tap the Trade settings icon, then Leverage.
- Choose the ratio, accept the terms and confirm.
For a demo account
In the client portal, open the demo accounts section, click the account’s gear icon, select “change leverage”, choose the value and confirm.
If the option is greyed out, a change request may already be under review: the feature is then suspended until it has been processed. Vantage also states that leverage may be adjusted automatically (account risk management, regulatory requirements, market conditions or a change of account type).
Go to the Vantage client portal
MetaTrader 5 leverage: what is different
On MT5, the principle is the same: leverage belongs to the account and is changed with the broker. Searching for how to “change leverage on MT5” therefore leads to the same place, the broker’s client portal, not a platform menu. Three differences are worth knowing:
- Choice when opening a demo: in the MT5 wizard (File > Open an Account), you choose the leverage, the virtual deposit and the “Use hedge in trading” option (hedging) or netting.
- Floating leverage: since MT5 build 4150 (February 2024), MetaQuotes allows brokers to vary required margin according to the volume of open positions. The broker configures these tiers; the trader sees the conditions in the terminal.
- Margin in hedging mode: on a hedging account, margin on opposite positions in the same symbol is calculated according to rules set by the broker.
For a broader comparison of the two versions, read our article MT4 or MT5: which version to choose.
What is the maximum leverage by broker?
Maximum leverage does not depend on MetaTrader but on the entity that holds your account and the regulations that apply to it.
Brokers established in the European Union
For retail clients, the European Securities and Markets Authority (ESMA) has set caps that national regulators, including France’s AMF, have adopted:
| Asset class | Maximum leverage (retail client) |
|---|---|
| Major currency pairs | 1:30 |
| Other pairs, gold, major indices | 1:20 |
| Commodities other than gold, non-major indices | 1:10 |
| Individual shares and other underlyings | 1:5 |
| Cryptocurrencies | 1:2 |
These rules also require positions to be closed when equity falls to 50% of required margin, and provide negative balance protection.
Vantage
According to its help center, Vantage offers leverage options from 100:1 to 500:1 on all its account types, with some products carrying fixed leverage. The leverage you choose is only a ceiling: the margin you actually use depends on the size of your positions.
Choosing your MT4 leverage: practical guidelines
Account leverage sets the margin locked up, but position size is what determines your exposure. Experienced traders therefore work in this order:
- Set your risk per trade as a percentage of capital and place a stop loss.
- Calculate your position size in lots from the stop distance.
- Check the margin that this position locks up at your leverage, and the resulting margin level.
- Keep free margin available so that normal market moves do not push the account toward stop out.
High account leverage does not force you to open large positions: lot size is what counts. Conversely, low leverage locks up more margin and reduces the number of positions you can hold at the same time. Test your setting on a MetaTrader demo account before applying it to your live account.
MT4 leverage FAQ
Where can I see my leverage in MT4?
Your account leverage is shown in the broker’s client portal and in the account opening email. For a demo opened from MT4, it is the value chosen in the wizard. In the terminal, you can see its effect in the Trade tab: margin used, free margin and margin level.
Why did my leverage change on its own?
A broker may adjust leverage for several reasons: risk management based on account activity or equity, regulatory rules, an instrument’s volatility or a change of account type. On MT5, floating leverage can also reduce your leverage as the volume of your positions increases.
Is demo leverage the same as live account leverage?
Not necessarily. A demo uses the leverage chosen when it was created, which may differ from your live account. For a realistic test, set the demo to the same leverage, the same account type and a balance close to what you plan to deposit.
What does 1:500 leverage mean?
1:500 leverage means the margin locked up is 1/500 of the position value, or 0.2%. For 1 lot of EUR/USD (€100,000), margin is €200. Profit or loss per pip is the same as with lower leverage: only the margin locked up changes.
How do I change leverage on MetaTrader 5?
As with MT4, the change is made with the broker: client portal, app or support. At Vantage, the path is Account > Live account > gear icon > Change leverage. For a demo opened from MT5, you need to open a new demo with the leverage you want.
Conclusion
MT4 and MT5 leverage is set by your broker, not in the platform. MetaTrader applies it to calculate margin, and margin level is what should guide how you manage your account. Calculate margin before opening a position, keep free margin available and test your settings on a demo. To compare brokers and their account conditions, see our selection of MT4 brokers.