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Discount Trading - Day Trading & End Of Day Futures 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 Initial 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. Enhanced day trading margins and $300 E-mini S&P Margin are available for select clients. Call to inquire.

Stock Index

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
E-mini S&P 500 ES CME $12,100 $11,000 $500 $300
E-mini NASDAQ 100 NQ CME $17,600 $16,000 $800 $500
E-mini DOW ($5) YM CBOT $9,900 $9,000 $500 $300
E-mini Russell 2000 RTY CME $7,150 $6,500 $500 $300
Micro E-mini S&P 500 MES CME $1,210 $1,100 $50 $30
Micro E-mini NASDAQ 100 MNQ CME $1,760 $1,600 $80 $50
Micro E-mini DOW ($5) MYM CBOT $990 $900 $50 $30
Micro E-mini Russell 2000 M2K CME $715 $650 $50 $30
Nikkei 225 Stock Index        NKD CME $8,800 $8,000 $1,000
E-mini Midcap 400 EMD CME $14,850 $13,500 $1,000
Eurex DJ Euro Stoxx 50
Index Futures
FESX EUREX €2,550 €2,550 €1,000
Eurex Mini-Dax FDXM EUREX €4,634 €4,634 €1,000
Eurex Dax FDAX EUREX $23,174 $23,174 $10,000

Interest Rates

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Ultra U.S. Treasury Bonds UB CBOT $7,920 $7,200 $1,000 $500
U.S. Treasury Bonds ZB CBOT $4,070 $3,700 $1,000 $500
Ultra 10 Year Notes TN CBOT $2,695 $2,450 $500 $300
10 Year Notes ZN CBOT $1,678 $1,525 $500 $300
5 Year Notes ZF CBOT $880 $800 $500
2 Year Notes ZT CBOT $385 $350 $300
30 Day Fed Funds ZQ CBOT $275 $250 $300
Eurodollar GE CME $220 $200 $200
Eurex Bund (10yr) FGBL EUREX €2,628 €2,628 €750
Eurex Bobl (5yr) FGBM EUREX €1,114 €1,114 €500
Eurex Schatz (2yr) FGBS EUREX €319 €319 €300
Eurex Euro-Buxl FGBX EUREX €6,860 €6,860 €2,000

Metals

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Gold GC COMEX $9,900 $9,000 $3,000 $2,000
Emini Gold QO COMEX $4,950 $4,500 $1,500
E-micro Gold MGC COMEX $990 $900 $300
Silver SI COMEX $16,500 $15,000 $5,000 $4,000
Emini Silver QI COMEX $8,250 $7,500 $2,500
E-micro Silver SIL COMEX $3,300 $3,000 $1,000
Copper HG COMEX $6,710 $6,100 $5,000 $4,000
Emini Copper                     QC COMEX $3,355 $3,050 $2,000
Palladium PA NYMEX $27,500 $25,000 $20,000
Platinum PL NYMEX $4,400 $4,000 $2,500

Energies

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Crude Oil CL NYMEX $5,225 $4,750 $1,000 $800
E-mini Crude Oil QM NYMEX $2,613 $2,375 $800 $500
Brent Crude BRN ICE-EUROPE $5,742 $5,220 $1,000
Natural Gas NG NYMEX $1,870 $1,700 $1,000 $800
E-mini Natural Gas QG NYMEX $468 $425 $500
Heating Oil - ULSD EHO NYMEX $5,445 $4,950 $1,500
E-mini Heating Oil - ULSD QH NYMEX $2,819 $2,563 $750
RBOB Gasoline ERB NYMEX $6,270 $5,700 $2,000
E-mini RBOB Gasoline QU NYMEX $3,135 $2,850 $1,000

Grains

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Corn ZC CBOT $2,118 $1,925 $750 $500
Mini Corn XC CBOT $424 $385 $200
Soybeans ZS CBOT $4,245 $3,950 $1,000 $750
Mini Soybeans XK CBOT $869 $790 $500
Soybean Oil ZL CBOT $2,200 $2,000 $500
Soybean Meal ZM CBOT $3,135 $2,850 $750
Wheat ZW CBOT $2,420 $2,200 $1,000 $750
Mini Wheat XW CBOT $484 $440 $300
Kansas City Wheat KE CBOT $2,475 $2,250 $750
Hard Red Spring Wheat    MWE or IH MGE $2,340 $1,800 $1,000
Oats ZO CBOT $825 $750 $500
Rough Rice ZR CBOT $1,430 $1,300 $750

Currencies

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Euro Futures 6E CME $2,420 $2,200 $500 $400
E-mini Euro Futures E7 CME $1,210 $1,100 $400
E-micro Euro Futures M6E CME $242 $220 $100
Japanese Yen 6J CME $2,475 $2,250 $1,000
E-mini Japanese Yen J7 CME $1,238 $1,125 $500
E-micro Japanese Yen MJY CME $248 $225 $100
Aussie Dollar 6A CME $1,980 $1,800 $750
E-micro Aussie Dollar          M6A CME $198 $180 $100
British Pound 6B CME $2,365 $2,150 $500
E-micro British Pound M6B CME $237 $215 $100
Canadian Dollar 6C CME $1,210 $1,100 $500
E-micro Canadian Dollar MCD CME $121 $110 $90
Swiss Franc 6S CME $3,630 $3,300 $1,000
E-micro Swiss Franc MSF CME $363 $330 $300
Brazilian Real 6L CME $1,375 $1,250 $1,000
Mexican Peso 6M CME $1,540 $1,400 $750
New Zealand Dollar 6N CME $2,090 $1,900 $1,000
Russian Ruble 6R CME $2,310 $2,100 $1,000
South African Rand 6Z CME $1,980 $1,800 $1,000
U.S. Dollar Index DX ICE $2,090 $1,900 $1,000

Softs

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Sugar #11 SB ICE $1,109 $1,008 $500
Cocoa CC ICE $2,090 $1,900 $750
Coffee KC ICE $4,455 $4,050 $1,000
Cotton CT ICE $2,915 $2,650 $1,000
Orange Juice                   OJ ICE $1,386 $1,260 $750

Meats

Contract Name Symbol Exchange Initial Margin Maintenance Margin Day Trade Margin Enhanced
Day Trade Margin
Feeder Cattle                   GF CME $3,190 $2,900 $1,500
Live Cattle LE CME $1,760 $1,600 $1,500
Lean Hogs HE CME $1,980 $1,800 $1,000
Important notices:
  • 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.
  • We reserve the right to liquidate all or some positions if the account falls below day-trade or end-of-day margin requirements at any time.
  • If your account drops below the posted intra-day margin requirements, a $50 per contract liquidation fee will be assessed.
  • Not all clients receive "Enhanced" day trading margins. Please call a client representative if you want the "Enhanced" day trading margins. Certain platforms are required.
  • The above posted margins are valid up to 100 contracts. Additional intra-day margin requirements may be required for accounts trading more than 100 contracts at a time.
  • Violations of intra-day or end-of-day margin requirements can result in additional fees and/or higher intra-day margin requirements.
  • Certain accounts such as entity or foreign accounts or accounts selling options may be subject to higher margin requirements.
  • Any account with an intra-day net liquidity balance of less than $500 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.
  • Discount Trading reserves the right to raise margin requirements and/or auto-liquidate levels without prior notice at any time and for any reason, especially in volatile market conditions.
  • Holidays: Early closes due to holidays are common & day trade margin is not extended through the holiday trading halt. All positions must satisfy Exchange Margin requirements set by the exchanges 10 minutes prior to the early holiday close.
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 10, 2021. Please check directly with the exchange's website for the most current initial and maintenance margin requirements. Discount Trading assumes no responsibility for any errors or omissions in the information above.