I think my scribbles over the screenshot below are fairly self explanatory as to my question, but to write it out - the small number below the quantity that appears before you place a CFD order is the leveraged value of the order (right?) but this is some way off the actual value if you calculate the leveraged value [qty * price * leverage]… very grateful if someone can settle this for me.
The currency of the instrument is in USD, while the your account is in GBP. Although the calculations are accurate when the account currency matches USD, they must be converted to GBP.
At the time of writing, the GBP/USD rate is approximately 1.2742, so the conversion results in: