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 and platforms. Call or email 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	$12,980	$11,080	$500	$300
E-mini NASDAQ 100	NQ	CME	$19,470	$17,700	$800	$600
E-mini DOW ($5)	YM	CBOT	$9,240	$8,400	$500	$300
E-mini Russell 2000	RTY	CME	$7,150	$6,500	$500	$300
Micro E-mini S&P 500	MES	CME	$1,298	$1,180	$50	$30
Micro E-mini NASDAQ 100	MNQ	CME	$1,947	$1,770	$80	$60
Micro E-mini DOW ($5)	MYM	CBOT	$924	$840	$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	$16,610	$15,100	$1,000
Eurex DJ Euro Stoxx 50 Index Futures	FESX	EUREX	€4,338	€4,338	€1,000
Eurex Mini-Dax	FDXM	EUREX	€8,126	€8,126	€1,000
Eurex Dax	FDAX	EUREX	€32,504	€32,504	€10,000

Interest Rates

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin	Enhanced Day Trade Margin
Micro 30-Year	30Y	CBOT	$319	$290	$100	$80
Micro 10-Year	10Y	CBOT	$352	$320	$100	$80
Micro 5-Year	5YY	CBOT	$363	$330	$100	$80
Micro 2-Year	2YY	CBOT	$374	$340	$100	$80
Ultra U.S. Treasury Bonds	UB	CBOT	$7,040	$6,400	$1,000	$500
U.S. Treasury Bonds	ZB	CBOT	$4,620	$4,200	$1,000	$500
Ultra 10 Year Notes	TN	CBOT	$3,300	$3,000	$500	$300
10 Year Notes	ZN	CBOT	$2,338	$2,125	$500	$300
5 Year Notes	ZF	CBOT	$1,540	$1,400	$500
2 Year Notes	ZT	CBOT	$1,265	$1,150	$400
30 Day Fed Funds	ZQ	CBOT	$440	$400	$200
One-Month SOFR	SR1	CME	$440	$400	$200
Three-Month SOFR	SR3	CME	$605	$550	$200
Eurex Bund (10yr)	FGBL	EUREX	€3,636	€3,636	€1,000
Eurex Bobl (5yr)	FGBM	EUREX	€2,020	€2,020	€750
Eurex Schatz (2yr)	FGBS	EUREX	€839	€839	€500
Eurex Euro-Buxl	FGBX	EUREX	€8,835	€8,835	€3,000

Metals

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin	Enhanced Day Trade Margin
Gold	GC	COMEX	$9,130	$8,300	$1,500	$1,000
Emini Gold	QO	COMEX	$4,565	$4,150	$500
E-micro Gold	MGC	COMEX	$913	$830	$300
Silver	SI	COMEX	$8,800	$8,000	$2,000	$1,500
Emini Silver	QI	COMEX	$4,400	$4,000	$1,000
E-micro Silver	SIL	COMEX	$1,760	$1,600	$500
Copper	HG	COMEX	$4,400	$4,000	$1,500	$1,000
Emini Copper	QC	COMEX	$2,200	$2,000	$800
Palladium	PA	NYMEX	$13,200	$12,000	$10,000
Platinum	PL	NYMEX	$2,750	$2,500	$1,500

Energies

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin	Enhanced Day Trade Margin
Crude Oil	CL	NYMEX	$5,132	$4,666	$1,500	$1,000
Micro Crude Oil	MCL	NYMEX	$515	$468	$150	$100
E-mini Crude Oil	QM	NYMEX	$2,577	$2,343	$800	$500
Brent Crude	BRN	ICE-EUROPE	$5,698	$5,180	$1,500
Natural Gas	NG	NYMEX	$2,561	$2,329	$1,000	$800
E-mini Natural Gas	QG	NYMEX	$646	$587	$400
Micro Natural Gas	MNG	NYMEX	$258	$235	$100
Heating Oil - ULSD	HO	NYMEX	$6,668	$6,061	$1,500
E-mini Heating Oil - ULSD	QH	NYMEX	$3,338	$3,035	$750
RBOB Gasoline	RB	NYMEX	$5,253	$4,775	$1,500
E-mini RBOB Gasoline	QU	NYMEX	$2,631	$2,392	$800

Grains

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin	Enhanced Day Trade Margin
Corn	ZC	CBOT	$1,293	$1,175	$600	$500
Mini Corn	XC	CBOT	$259	$235	$100
Soybeans	ZS	CBOT	$2,530	$2,300	$1,000	$750
Mini Soybeans	XK	CBOT	$506	$460	$200
Soybean Oil	ZL	CBOT	$1,760	$1,600	$500
Soybean Meal	ZM	CBOT	$2,035	$1,850	$750
Wheat	ZW	CBOT	$2,475	$2,250	$1,000	$750
Mini Wheat	XW	CBOT	$495	$450	$300
Kansas City Wheat	KE	CBOT	$2,310	$2,100	$750
Hard Red Spring Wheat	MWE or IH	MGE	$2,750	$2,500	$1,000
Oats	ZO	CBOT	$1,540	$1,400	$500
Rough Rice	ZR	CBOT	$1,100	$1,000	$750

Currencies

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin	Enhanced Day Trade Margin
Euro Futures	6E	CME	$2,310	$2,100	$500	$400
E-mini Euro Futures	E7	CME	$1,155	$1,050	$300
E-micro Euro Futures	M6E	CME	$231	$210	$100
Japanese Yen	6J	CME	$2,860	$2,600	$1,000
E-mini Japanese Yen	J7	CME	$1,430	$1,300	$500
Aussie Dollar	6A	CME	$1,595	$1,450	$750
Micro Aussie Dollar	M6A	CME	$160	$145	$100
British Pound	6B	CME	$2,090	$1,900	$500
Micro British Pound	M6B	CME	$209	$290	$100
Canadian Dollar	6C	CME	$1,100	$1,000	$500
E-micro Canadian Dollar	MCD	CME	$110	$100	$50
Swiss Franc	6S	CME	$4,070	$3,700	$1,000
E-micro Swiss Franc	MSF	CME	$407	$370	$150
Brazilian Real	6L	CME	$935	$850	$500
Mexican Peso	6M	CME	$1,430	$1,300	$750
New Zealand Dollar	6N	CME	$1,540	$1,400	$1,000
South African Rand	6Z	CME	$1,540	$1,400	$1,000
U.S. Dollar Index	DX	ICE	$1,980	$1,800	$1,000

Softs

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin
Sugar #11	SB	ICE	$1,848	$1,680	$750
Cocoa	CC	ICE	$3,993	$3,630	$1,000
Coffee	KC	ICE	$6,600	$6,000	$3,000
Cotton	CT	ICE	$3,300	$3,000	$1,500
Orange Juice	OJ	ICE	$4,125	$3,750	$1,000

Meats

Contract Name	Symbol	Exchange	Initial Margin	Maintenance Margin	Day Trade Margin
Feeder Cattle	GF	CME	$4,538	$4,125	$1,500
Live Cattle	LE	CME	$2,695	$2,450	$1,500
Lean Hogs	HE	CME	$1,650	$1,500	$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 or $25 per micro contracts.
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 50 contracts. Additional intra-day margin requirements may be required for accounts trading more than 50 contracts.
Violations of intra-day or end-of-day margin requirements can result in additional fees and/or higher intra-day margin requirements.
Clients highly concentrated in one market may be subject to higher 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 $200 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 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 Feb 28, 2024. 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.