Futures margin requirements are one of the first practical things to understand in futures trading – and one of the most annoying to look up, because every broker buries them in a different corner of their website. So this page does it for you: live margin data, pulled automatically from TradeStation and Interactive Brokers, side by side.
Quick Answers
- Emini (ES) day trading margin at TradeStation: $2,759 – TradeStation margins
- Micro Emini (MES) margin starts at $276 intraday – micro margins
- TradeStation publishes fixed intraday discounts on major contracts; Interactive Brokers margins are risk-based – compare brokers
- Initial and maintenance margins are set by the exchange (CME); intraday discounts are set by your broker – initial vs maintenance
- There is no $25,000 minimum to day trade futures. There never was – and since June 2026, the $25k PDT rule is gone for stocks too – FAQ
Data last refreshed: 21 July 2026, 03:49 UTC
Source: tradestation.com and interactivebrokers.com official margin pages.
Live Margin Data: TradeStation and Interactive Brokers
These figures are pulled automatically from TradeStation’s and Interactive Brokers’ official margin pages – not typed in by hand. If a broker changes a rate, this page changes with it. Margins move with volatility, so treat any static margin table you find elsewhere (including Google’s AI answer box) as out of date by default.
Intraday and Overnight Initial Margin per Contract – TradeStation (TS) and Interactive Brokers (IB)
| Class | Type | Market | Symbol | Alt. (IB) | Exch. | IB Intraday | IB Overnight | TS Intraday | TS Overnight | Tick Size | Tick Value | Point Value | 10% Pt Target |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mini | Comm. | Micro Crude Oil | MCL | NYMEX | $1,875 | $1,875 | $460 | $920 | 0.01 | $1.00 | $100 | 1.88 | |
| Mini | Comm. | 1OZ Gold | 1OZ | GLOBEX | $397 | $397 | $223 | $223 | 0.01 | $1.00 | $100 | 0.40 | |
| Mini | Comm. | Micro Gold | MGC | COMEX | $3,938 | $3,938 | $574 | $2,294 | 0.10 | $1.00 | $10 | 39.38 | |
| Mini | Comm. | Micro Copper | MHG | QC | COMEX | $2,569 | $2,569 | $1,320 | $1,320 | 0.0005 | $1.25 | $2,500 | 0.103 |
| Mini | Comm. | Mini Natural Gas | QG | QN | NYMEX | $1,776 | $1,776 | $810 | $802 | 0.005 | $12.50 | $2,500 | 0.071 |
| Mini | Comm. | Mini Silver | SIL | COMEX | $11,935 | $11,935 | $1,583 | $6,332 | 0.01 | $10.00 | $1,000 | 1.19 | |
| Mini | Comm. | Mini Corn | XC | YC | ECBOT | $401 | $401 | $198 | $198 | 0.125 | $1.25 | $10 | 4.01 |
| Mini | Comm. | Mini Soybeans | XK | YK | ECBOT | $1,007 | $1,007 | $429 | $429 | 0.125 | $1.25 | $10 | 10.07 |
| Mini | Comm. | Mini Wheat | XW | YW | ECBOT | $828 | $828 | $374 | $374 | 0.125 | $1.25 | $10 | 8.28 |
| Mini | Crypto | Micro Bitcoin | MBT | GLOBEX | $2,331 | $2,331 | $1,733 | $1,733 | 5.00 | $0.50 | $0.10 | 2,331 | |
| Mini | Crypto | Micro Ether | MET | GLOBEX | $89 | $89 | $66 | $66 | 0.50 | $0.05 | $0.10 | 89 | |
| Mini | Financial | Micro Treasury Notes 10yr | 10Y | ECBOT | $643 | $643 | $330 | $330 | 0.001 | $1.00 | $1,000 | 0.064 | |
| Mini | Financial | Micro Treasury Bonds 30yr | 30Y | ECBOT | $543 | $543 | $297 | $297 | 0.001 | $1.00 | $1,000 | 0.054 | |
| Mini | Financial | Micro Russell | M2K | GLOBEX | $866 | $1,237 | $296 | $1,183 | 0.10 | $0.50 | $5 | 17 | |
| Mini | Financial | Micro Emini | MES | GLOBEX | $2,450 | $3,500 | $276 | $2,759 | 0.25 | $1.25 | $5 | 49 | |
| Mini | Financial | Micro NASDAQ | MNQ | GLOBEX | $4,782 | $6,832 | $422 | $4,217 | 0.25 | $0.50 | $2 | 239 | |
| Mini | Financial | Micro Dow | MYM | ECBOT | $1,208 | $1,725 | $167 | $1,666 | 1.00 | $0.50 | $1 | 242 | |
| Mini | Forex | Mini Japanese Yen | J7 | MJY | GLOBEX | $1,380 | $1,380 | $330 | $1,320 | 0.000001 | $6.25 | $6,250,000 | 0.000022 |
| Mini | Forex | Mini Aussie Dollar | M6A | GLOBEX | $264 | $264 | $193 | $193 | 0.0001 | $1.00 | $10,000 | 0.0026 | |
| Mini | Forex | Mini British Pound | M6B | GLOBEX | $239 | $239 | $187 | $187 | 0.0001 | $0.625 | $6,250 | 0.0038 | |
| Mini | Forex | Mini Euro | M6E | GLOBEX | $328 | $328 | $231 | $231 | 0.0001 | $1.25 | $12,500 | 0.0026 | |
| Mini | Forex | Mini Canadian Dollar | MCD | GLOBEX | $148 | $148 | $0 | $0 | 0.0001 | $1.00 | $10,000 | 0.0015 | |
| Mini | Forex | Mini Swiss Franc | MSF | GLOBEX | $547 | $547 | $0 | $0 | 0.0001 | $1.25 | $12,500 | 0.0044 | |
| Full | Comm. | Cocoa | CC | NYBOT | $733,097 | $733,097 | $9,306 | $9,306 | 1.00 | $10.00 | $10 | 7,331 | |
| Full | Comm. | Crude Oil | CL | NYMEX | $88,634 | $88,634 | $4,589 | $9,178 | 0.01 | $10.00 | $1,000 | 8.86 | |
| Full | Comm. | Cotton | CT | NYBOT | $1,792,427 | $1,792,427 | $2,184 | $2,184 | 0.01 | $5.00 | $500 | 358.49 | |
| Full | Comm. | Gold | GC | COMEX | $39,376 | $39,376 | $5,604 | $22,417 | 0.10 | $10.00 | $100 | 39.38 | |
| Full | Comm. | Lean Hogs | HE | LH | GLOBEX | $3,580 | $3,580 | $1,650 | $1,650 | 0.00025 | $10.00 | $40,000 | 0.009 |
| Full | Comm. | Copper | HG | COMEX | $25,694 | $25,694 | $3,300 | $13,200 | 0.0005 | $12.50 | $25,000 | 0.10 | |
| Full | Comm. | Coffee | KC | NYBOT | $24,275 | $24,275 | $23,220 | $23,220 | 0.0005 | $18.75 | $37,500 | 0.06 | |
| Full | Comm. | Live Cattle | LE | LC | GLOBEX | $7,762 | $7,762 | $3,520 | $3,520 | 0.00025 | $10.00 | $40,000 | 0.02 |
| Full | Comm. | Natural Gas | NG | NYMEX | $7,105 | $7,105 | $1,607 | $3,187 | 0.001 | $10.00 | $10,000 | 0.07 | |
| Full | Comm. | Orange Juice | OJ | NYBOT | $8,329 | $8,329 | $3,926 | $3,926 | 0.0005 | $7.50 | $15,000 | 0.06 | |
| Full | Comm. | Sugar | SB | NYBOT | $1,973 | $1,973 | $850 | $850 | 0.0100 | $11.20 | $1,120 | 0.18 | |
| Full | Comm. | Silver | SI | COMEX | $59,674 | $59,674 | $7,745 | $30,979 | 0.005 | $25.00 | $5,000 | 1.19 | |
| Full | Comm. | Corn | ZC | C | ECBOT | $2,003 | $2,003 | $990 | $990 | 0.25 | $12.50 | $50 | 4.01 |
| Full | Comm. | Soybeans | ZS | S | ECBOT | $5,035 | $5,035 | $2,145 | $2,145 | 0.25 | $12.50 | $50 | 10.07 |
| Full | Comm. | Wheat | ZW | W | ECBOT | $4,141 | $4,141 | $1,870 | $1,870 | 0.25 | $12.50 | $50 | 8.28 |
| Full | Crypto | Bitcoin | BTC | GLOBEX | $116,620 | $116,620 | $42,745 | $85,490 | 5.00 | $25.00 | $5 | 2,332 | |
| Full | Crypto | Ether | ETH | GLOBEX | $44,761 | $44,761 | $16,254 | $32,507 | 0.25 | $12.50 | $50 | 90 | |
| Full | Financial | Emini | ES | GLOBEX | $24,502 | $35,002 | $2,759 | $27,594 | 0.25 | $12.50 | $50 | 49 | |
| Full | Financial | Mini NASDAQ | NQ | GLOBEX | $47,822 | $68,317 | $4,217 | $42,174 | 0.25 | $5.00 | $20 | 239 | |
| Full | Financial | Mini Russell | RTY | GLOBEX | $8,656 | $12,366 | $2,957 | $11,828 | 0.10 | $5.00 | $50 | 17 | |
| Full | Financial | Mini Dow | YM | ECBOT | $12,075 | $17,250 | $1,667 | $16,673 | 1.00 | $5.00 | $5 | 242 | |
| Full | Financial | Treasury Bonds 30yr | ZB | US | ECBOT | $4,255 | $4,255 | $1,018 | $4,070 | 0.03125 | $31.25 | $1,000 | 0.43 |
| Full | Financial | Treasury Notes 10yr | ZN | TY | ECBOT | $2,156 | $2,156 | $206 | $2,063 | 0.015625 | $15.625 | $1,000 | 0.22 |
| Full | Forex | Aussie Dollar | 6A | AD | GLOBEX | $2,643 | $2,643 | $481 | $1,925 | 0.0001 | $10.00 | $100,000 | 0.0026 |
| Full | Forex | British Pound | 6B | BP | GLOBEX | $2,387 | $2,387 | $468 | $1,870 | 0.0001 | $6.25 | $62,500 | 0.0038 |
| Full | Forex | Canadian Dollar | 6C | CD | GLOBEX | $1,482 | $1,482 | $220 | $880 | 0.00005 | $5.00 | $100,000 | 0.0015 |
| Full | Forex | Euro | 6E | EC | GLOBEX | $3,276 | $3,276 | $578 | $2,310 | 0.00005 | $6.25 | $125,000 | 0.0026 |
| Full | Forex | Japanese Yen | 6J | JY | GLOBEX | $2,760 | $2,760 | $660 | $2,640 | 0.000001 | $12.50 | $12,500,000 | 0.000022 |
| Full | Forex | Swiss Franc | 6S | SF | GLOBEX | $5,466 | $5,466 | $3,960 | $3,960 | 0.0001 | $12.50 | $125,000 | 0.0044 |
| Full | Forex | Dollar Index | DX | NYBOT | $2,313 | $2,313 | $543 | $2,171 | 0.005 | $5.00 | $1,000 | 0.23 |
LIVE - refreshed daily · Last refresh: 21 July 2026, 03:49 UTC · Source: tradestation.com + interactivebrokers.com
TradeStation Futures Margin Requirements
TradeStation sets futures margins in two layers: the exchange minimum (initial and maintenance, set by CME) for overnight positions, and a discounted intraday rate for positions opened and closed within the day session. On major index contracts, the intraday rate is a fixed percentage of the overnight requirement – the live table above shows the current figure for every market I trade.
TradeStation intraday vs overnight margin
The intraday discount only applies while TradeStation’s day-margin window is open. Hold past the cutoff, and you must meet the full overnight initial margin – or the position gets flattened. If you trade the close, know your cutoff time. That single detail catches more new futures traders than anything else on this page.
TradeStation micro futures margin
Micros (MES, MNQ, MYM, M2K) carry roughly one-tenth the margin of the full-size contracts, with the same intraday discount structure. Current micro figures are in the live table – they are the sensible starting point if your account is under $10k.
Interactive Brokers Futures Margin Requirements
Interactive Brokers works differently: margins are risk-based, recalculated using its own risk algorithms on top of exchange minimums, and IBKR is generally less generous with intraday discounts than day-trading-focused brokers. What you get in exchange is very sharp overnight rates on some products and access to practically every listed futures market on the planet. The live table shows IBKR’s current initial figures next to TradeStation’s, which makes the comparison honest – same moment, same source pages.
TradeStation vs Interactive Brokers: Which Has Lower Margins?
Short answer: TradeStation for day traders, Interactive Brokers for swing and position traders – but check the live numbers, because the gap moves.
Intraday and Overnight Initial Margin per Contract – TradeStation (TS) and Interactive Brokers (IB)
| Market | Symbol | TS Intraday | TS Overnight | IB Intraday | IB Overnight |
|---|---|---|---|---|---|
| Micro Emini | MES | $276 | $2,759 | $2,450 | $3,500 |
| Micro NASDAQ | MNQ | $422 | $4,217 | $4,782 | $6,832 |
| Crude Oil | CL | $4,589 | $9,178 | $88,634 | $88,634 |
| Gold | GC | $5,604 | $22,417 | $39,376 | $39,376 |
| Emini | ES | $2,759 | $27,594 | $24,502 | $35,002 |
| Mini NASDAQ | NQ | $4,217 | $42,174 | $47,822 | $68,317 |
LIVE - refreshed daily · Last refresh: 21 July 2026, 03:49 UTC · Source: tradestation.com + interactivebrokers.com
The pattern that holds most of the time: TradeStation’s published intraday discounts make it cheaper to day-trade index futures, while IBKR’s risk-based model is often competitive or better for positions held overnight. If you day trade Eminis and micros, the TradeStation column is the one that matters. If you hold for days or weeks, compare the overnight columns and factor in that IBKR recalculates with volatility.
No broker on this page pays me a cent for saying any of that – which is exactly why this comparison exists. Every other margin table on page 1 of Google belongs to a broker showing you only their own rates.
How Much Money Do You Need to Trade Futures?
Margin is the floor, not the answer. The margin requirement is what the broker demands to open the position – it says nothing about surviving normal market movement.
A practical rule of thumb: hold 3 to 5 times the intraday margin per contract you trade, so a normal adverse move doesn’t put you at a forced liquidation. With micros, that means a well-capitalised start is possible in the low thousands of dollars, not tens of thousands. Position sizing off margin alone is how amateurs blow up accounts – the professionals size off risk per trade, then check margin second. That mindset shift is a big part of what the ‘Better’ Trading Indicators are built around: knowing when the professionals are actually in the market, so you’re not funding the other side of their trade.
Initial Margin vs Maintenance Margin
Initial margin is the amount you must deposit to open a futures position. Maintenance margin is the minimum equity you must keep once the position is open – fall below it and you get a margin call. Both are set by the exchange as performance bonds, not loans.
The initial margin is set as a percentage of the contract’s total value and varies with the volatility of the underlying market. The maintenance level sits below the initial level. If the market moves against you and your equity drops below the maintenance level, your broker may require you to either top up the account or close positions until you’re back above the line. In fast markets, brokers don’t always wait for you to answer the phone.
Intraday Margin vs Overnight Margin
Intraday margin applies to positions opened and closed within the same day’s session and is always the lower of the two figures. Overnight margin applies the moment you hold through the session close, and it’s higher because you’re exposed to gaps while the market is closed or thin.
Brokers set intraday rates themselves (which is why they differ so much between brokers), while overnight initial and maintenance levels track the exchange minimums. This is also where broker risk policies bite: around major news events, some brokers temporarily raise intraday margins to overnight levels. If your position sizing assumes the discounted rate is always available, you’ve made an assumption the broker never agreed to.
FAQ: Futures Margin Requirements
Can you day trade futures with less than $25,000?
Yes. The $25,000 pattern day trader rule was a stock and options rule – it never applied to futures. And it’s now entirely history: the SEC approved FINRA’s amendments in April 2026, and the PDT rule was eliminated, effective 4 June 2026 and replaced by proportional intraday margin requirements (brokers can phase in until October 2027). In futures, your only minimum is your broker’s account minimum and the margin for the contract you trade.
How much margin do I need to trade futures?
Whatever the live table above shows for your contract and broker – that’s the point of this page. As a sanity check, exchange initial margins typically run 3-12% of the contract’s notional value, and broker intraday rates run well below that.
What is the margin rule for TradeStation?
For futures: meet the intraday margin while the day-margin window is open, and the full overnight initial margin if you hold past the cutoff. TradeStation publishes fixed intraday rates per contract (see the live table) rather than recalculating per account.
Why do futures margin requirements change?
The exchange resets initial and maintenance levels as volatility changes (CME reviews them regularly), and brokers adjust their intraday discounts on top – sometimes overnight, sometimes intraday around news events. That’s why a static margin table is wrong within weeks, and why this page pulls live data instead.
What happens if I get a margin call in futures?
You either add funds or reduce positions – and in futures, brokers auto-liquidate faster than stock brokers do. Many intraday margin breaches are automatically closed out by the broker’s risk engine, incurring a fee. The fix is upstream: size positions so a normal adverse move never takes you near maintenance.
What is the 80% rule in futures trading?
It’s a Market Profile idea, not a margin rule: if price opens outside the prior day’s value area and then trades back inside it, the odds favour rotation across the full value area. Nothing to do with margin – it shows up in this FAQ because Google thinks the two questions are related.
Which broker has the lowest futures margins?
Deep-discount futures shops advertise day margins as low as $50 per micro contract – far below TradeStation or IBKR. Understand what you’re buying: ultra-low margin is maximum leverage, and maximum leverage plus a normal losing streak is how small accounts die. The professionals don’t choose brokers on who lets them over-leverage the most.
Once you’re trading enough size to care about margin, two natural next steps: structure the trading properly – see my guide on day trader tax loopholes for what still works in 2026 – and see margin dynamics in action in the guide to day trading Crude Oil, a market where the intraday discount genuinely changes your position sizing.
Margin tells you what you can trade. It doesn’t tell you when to trade. For that, watch what institutional money is doing and stay on the right side of it: Follow the Professionals, Fade the Amateurs.
