I'm a bit confused about leverage calculation in relation to position sizing.

Let's say I have 2 accounts with 10,000USD in the two of them.

In the first account, I'm on 1:1 leverage. So that means I can only trade just 10,000USD worth of contract right, meaning only a mini lot?

In the next account, I'm on 1:50. So 50 x 10,000 is 500,000. That means 5 standard lots.

Am I on the right track here?

One other question, if I were to risk 3% on 50 pips with EURUSD. That means on both account, I can only exchange 6 miniature lots?