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End of trading day Liquidation Notices from Major Brokers
Hello Traders, What are the times major brokers send their liquidation notices at the end of the trading day, and what are the times they actually liquidate. For example IB sends notices at 3:40 and if no action is taken by the trader himself, they start liquidating at 3:50. Appreciate the info very much. Also may be these times are posted here on futures.IO somewhere, will be very appreciative if someone can point me to it? I couldn't find such a info on my own. Thanks in advance.
Can you help answer these questions from other members on NexusFi?
Presumably you mean trading with a too small account and taking advantage of low daytrading margins that a lot of brokers offer, and then not having enough in your account to cover the full margin cost required if holding a position in to and through the close.
On the ES for example lots of brokers offer low daytrading margins of $500 to lure people in to opening small accounts, but the full margin is currently $6000 per contract. As others have said, using your broker for trade management to exit their trades for them at the end of the day really isn't a good idea.
Full/maintenance margin requirements can be found on the CME website for their products. Below is the CME page related to the margin requirement for the ES example.
Unless @Vacationer means that the broker liquidates a position because the account has not enough margin for the position to be held overnight, i.e. with that amount only day trading is possible.
Matthew28, Thanks for the comment. That is exactly what I meant. At end of RTH times the brokers call for liquidation before overnight margins go into effect. The brokers for overnight only hold a comparable margin to that of the exchanges, like CME for example, . But it is all up to the broker to issue that call before the day trading margin time expires. And this is what I was asking about. Each broker is different.
, otherwise nobody will liquidate your positions at the end of the day.
