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Discount Trading - Day Trading & End Of Day Margin Requirements

Initial & Maintenance Margin vs. Day Trade (Intra-Day) Margin

Initial Margin and Maintenance Margin is set by the exchange. Initial Margin is the amount required to hold each position past the market close. This margin amount can go as low as the Maintenance Margin before the client is required to replenish funds back to Inital Margin Requirements if the positions are held past the market close. Day Trade Margin is set by Discount Trading. This is the minimum amount required to hold a position per contract on an intra-day basis. Discount Trading offers low day trading margins to accommodate traders that desire high leverage to trade their accounts. Traders need to make sure they thoroughly understand the risk involved in using this leverage.

Intra-Day or Day Trading Margins are in effect anytime the market is open, except during the last 10 minutes of each trading session. Discount Trading requires that you either flatten open positions or meet the exchange required margin requirements no less than 10 minutes prior to the daily close of the market.

Stock Index

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
E-mini S&P 500 ES CME $5,940 $5,400 $500
E-mini NASDAQ 100 NQ CME $6,380 $5,800 $500
E-mini DOW ($5) YM CBOT $5,390 $4,900 $500
Mini Russell 2000 TF ICE $3,897 $3,543 $500
E-mini S&P MidCap 400 EMD CME $8,250 $7,500 $1,000
Nikkei 225 Stock Index NKD CME $5,720 $5,200 $1,000

Currencies

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Euro Futures 6E CME $2,310 $2,100 $500
E-mini Euro Futures E7 CME $1,155 $1,050 $400
E-micro Euro Futures M6E CME $231 $210 $300
Japanese Yen 6J CME $2,200 $2,000 $500
E-mini Japanese Yen J7 CME $1,100 $1,000 $400
E-micro Japanese Yen MJY CME $220 $200 $300
Aussie Dollar 6A CME $1,375 $1,250 $500
E-micro Aussie Dollar M6A CME $138 $125 $300
British Pound 6B CME $1,980 $1,800 $500
E-micro British Pound M6B CME $198 $180 $300
Canadian Dollar 6C CME $1,210 $1,100 $500
E-micro Canadian Dollar MCD CME $121 $110 $300
Swiss Franc 6S CME $3,080 $2,800 $1,000
E-micro Swiss Franc MSF CME $308 $280 $300
Brazilian Real 6L CME $1,210 $1,100 $1000
Mexican Peso 6M CME $1,128 $1,025 $750
New Zealand Dollar 6N CME $1,430 $1,300 $1000
Russian Ruble 6R CME $2,530 $2,300 $1,000
South African Rand 6Z CME $2,255 $2,050 $1,000
U.S. Dollar Index DX ICE $1,815 $1,650 $1,000

Interest Rates

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Ultra U.S. Treasury Bonds UB CBOT $3,410 $3,100 $850
U.S. Treasury Bonds ZB CBOT $2,365 $2,150 $850
Ultra 10 Year Notes TN CBOT $1,320 $1,200 $500
10 Year Notes ZN CBOT $990 $900 $500
5 Year Notes ZF CBOT $616 $560 $300
2 Year Notes ZT CBOT $374 $340 $300
30 Day Fed Funds ZQ CBOT $176 $160 $300
Eurodollar GE CME $165 $150 $300

Metals

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Gold GC COMEX $3,410 $3,100 $1,000
Emini Gold QO COMEX $1,705 $1,550 $750
E-micro Gold MGC COMEX $341 $310 $300
Silver SI COMEX $3,960 $3,600 $1,500
Emini Silver QI COMEX $1,980 $1,800 $750
Copper HG COMEX $3,410 $3,100 $1,000
Emini Copper QC COMEX $1,705 $1,550 $1,000
Palladium PA NYMEX $6,050 $5,500 $3,000
Platinum PL NYMEX $1,650 $1,500 $1,000

Energies

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Crude Oil CL NYMEX $2,695 $2,450 $1,000
E-mini Crude Oil QM NYMEX $1,348 $1,225 $500
Brent Crude BRN ICE $2,970 $2,700 $1,000
Natural Gas NG NYMEX $1,320 $1,200 $1,000
E-mini Natural Gas QG NYMEX $330 $300 $300
Heating Oil - ULSD EHO NYMEX $3,245 $2,950 $1,500
E-mini Heating Oil - ULSD QH NYMEX $1,568 $1,425 $750
RBOB Gasoline ERB NYMEX $3,080 $2,800 $1,500
E-mini RBOB Gasoline QU NYMEX $1,485 $1,350 $750

Grains

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Corn ZC CBOT $792 $720 $500
Mini Corn XC CBOT $158 $144 $300
Soybeans ZS CBOT $2,035 $1,850 $750
Mini Soybeans XK CBOT $407 $370 $300
Soybean Oil ZL CBOT $660 $600 $500
Soybean Meal ZM CBOT $1,850 $1,650 $750
Wheat ZW CBOT $1,485 $1,350 $750
Mini Wheat XW CBOT $297 $270 $300
Hard Red Spring Wheat MWE MGE $1,950 $1,500 $750
Oats ZO CBOT $743 $675 $500
Rough Rice ZR CBOT $1210 $1100 $750

Softs

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Sugar #11 SB ICE $1,047 $952 $500
Cocoa CC ICE $1,870 $1,700 $750
Coffee KC ICE $2,310 $2,100 $1,000
Cotton CT ICE $2,200 $2,000 $1,000
Orange Juice OJ ICE $1,081 $983 $750

Meats

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin
Feeder Cattle GF CME $3,080 $2,800 $1,500
Live Cattle LE CME $1,650 $1,500 $800
Lean Hogs HE CME $1,320 $1,200 $800
Important notice:
  • We reserve the right to liquidate all or some positions if the account falls below margin requirements at any time.
  • Discount Trading reserves the right to raise margin requirements at any time and for any reason, especially in volatile market conditions.
  • Margin Liquidation Fee – If your account drops below the posted intra-day margin requirements, a $50 per contract liquidation fee will be assessed.
  • The above posted margins are valid up to 100 contracts. Additional intra-day margin requirements are required for accounts trading more than 100 contracts at a time.
  • Violations of intra-day or end-of-day margin requirements can result in additonal fees and/or higher intra-day margin requirements.
  • Any account with an intra-day net liquidity balance of less than $300 will be subject to immediate liquidation.
  • Clients are responsible for monitoring their account, positions, and margin requirements at all times. Clients are financially responsible for any losses generated by open positions in the account. Any account deficits must be met by wiring funds immediately.
Disclaimer: Margins listed on this page are for informational purposes only and are subject to change at any time without notice. Margins are believed to be accurate as of May 13, 2018. Please check directly with the exchange's website for the most current inital and maintenance margin requirements. Discount Trading assumes no responsibility for any errors or omissions in the information above.