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

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

The following example is based on trading one standard lot on WTI Crude Oil: Product: WTI.fsPosition Size: 1 standard lotPrice: $41.58Contract Size: 1000 barrelsContract Value: $10 per pointMargin Requirement: 1%Total Exposure: 41.58 * 1000 = 41,580 USDMargin: 1% * $41,580 = $415.80 USD^ ^You will need to convert the margin amount into your base currency if it is different to 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 do I calculate my margin requirement for an Equity Index position?