Emini Micro margin and brokers
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Emini Micro margin and brokers
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Emini Micro margin and brokers

  #1 (permalink)
Paris + France
 
Trading Experience: Advanced
Platform: Sierra Chart
Favorite Futures: Futures stock indices
 
Posts: 48 since Feb 2014
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Emini Micro margin and brokers

Hello,
I have several questions about margin, in the context of let's say s&p500.

1) I read on Ampfutures that S&P500 Micro emini requires $40.00 DayTrade margin.
I asked to Interactive brokers and they said for this contract they require $452.25 intraday margin.
I guess it is the same margin: you need that sum in your account to take a trade you will sell intraday.
Question is: why this HUGE x10 difference between brokers?

2) On the official CME site:
https://www.cmegroup.com/education/frequently-asked-questions-micro-e-mini-equity-index-futures.html
it is said Initial $690 maintainance $630.
It's not the same as what various brokers require.
How can this be? Isn't margin requirements supposed to be set officially by the exchange? How can brokers set whatever margin they want?

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  #3 (permalink)
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brakkar View Post
Hello,
I have several questions about margin, in the context of let's say s&p500.

1) I read on Ampfutures that S&P500 Micro emini requires $40.00 DayTrade margin.
I asked to Interactive brokers and they said for this contract they require $452.25 intraday margin.
I guess it is the same margin: you need that sum in your account to take a trade you will sell intraday.
Question is: why this HUGE x10 difference between brokers?

2) On the official CME site:
https://www.cmegroup.com/education/frequently-asked-questions-micro-e-mini-equity-index-futures.html
it is said Initial $690 maintainance $630.
It's not the same as what various brokers require.
How can this be? Isn't margin requirements supposed to be set officially by the exchange? How can brokers set whatever margin they want?

The exchange sets "overnight" margin -- what's required if you hold a position past the close, into the next trading day.

Brokers are free to set any margin they like for day trades -- trades closed before the close.

It varies due to the different brokers' policies about risk.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #4 (permalink)
Jackson + MS
 
 
Posts: 14 since Jul 2016
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These guys are cheap

tradovate dot com

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  #5 (permalink)
Agoura Hills, CA USA
 
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In my opinion this is not as important as it might sound. If you’re undercapitalized they’re actually doing you a huge disfavor by letting you “daytrade” for cheap. Which by the way, has very low odds of success. But that’s not the point, the point is that there are plenty of other considerations when choosing a broker as well. First you should research the system you’re planning on trading for questions like : Max drawdown, percent profitable, account size required , and then, based on the performance of your system and you being appropriately capitalized to trade it, you could perhaps “safely” pick a cheap margin choice if you think your intraday system has high odds of success and will be using the cheap leverage.


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  #6 (permalink)
turkey
 
 
Posts: 6 since Oct 2019
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From what i see interactive brokers' margin requirements are bit high, you can find brokers that have lower margin requirements.

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  #7 (permalink)
Buffalo, NY
 
 
Posts: 2 since Sep 2019
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fryguy2 View Post
These guys are cheap

tradovate dot com

especially if you take the all-in commissions ...

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  #8 (permalink)
Jackson + MS
 
 
Posts: 14 since Jul 2016
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Any vendor / broker provide free real time futures data ?


Thanks

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  #9 (permalink)
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fryguy2 View Post
Any vendor / broker provide free real time futures data ?


Thanks

CME rules require you to have a funded brokerage account to get real-time futures data, other than for introductory trials. Brokers can and will offer short-term trials with real-time data without having an account, but these are limited to two weeks. You can often request and get a two-week extension, for a total of four weeks, but that will be it.

You can get 15-minute delayed data from many sources, which is good enough for paper trading to get some practice.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #10 (permalink)
Jackson + MS
 
 
Posts: 14 since Jul 2016
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Looks like the Futures data from TOS is live.

The platform is getting better over time.

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