How do I calculate my margin requirement for a CFD commodity position? / Axi

How do I calculate my margin requirement for a CFD commodity position?

Please note that each CFD position is subject to minimum size and margin requirements to open a trade.

Initial Margin Required for CFDs = (Number of lots) x (Initial Margin Rate) x (Contract Size) x (Current Market Price). The following example is based on trading one standard lot on WTI Crude Oil:
Product: WTI.fs
Position Size: 1 standard lot
Price: $41.58
Contract Size: 1000 barrels
Contract Value: $10 per point
Margin Requirement: 1%

Calculation:

Margin Required: 1 lot * 1% * 1000 * 41.58 USD = Total Exposure: 41.58 * 1000 = 41,580 USD
Margin: 415.80 USD
*You will need to convert the margin amount into your base currency if it is different from the currency of the index your position is opened.

Additional Information

Where do you get the pricing for oil from? What type of oil contracts do you offer? How much is required to open a CFD position?