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What happens if I have a position at daily settlement?
I had an open MES contract after the bell at 4 EDT. I had the margin in my account for overnight. This was the first time I didn't have all my positions closed in time. What happens if one does NOT have the funds for margin? Are they automatically liquidated? Are there any fees or penalties?
Can you help answer these questions from other members on NexusFi?
Depends on the broker. Some might auto liquidate, some might issue a margin call. As far as fees, etc, some brokers might charge you fee for either the margin call, or charge you if they have to close the trade.
You could always contact the trade desk and ask, or I'm sure the info is on the broker's website.
