Futures Contract Margin Calculator
Calculate initial and maintenance margin requirements for futures contracts.
Know your capital requirements before trading futures.
Futures Margin Requirements
Futures margin is a performance bond deposited with the exchange to cover potential losses on a position.
Initial Margin = Contract Value × Initial Margin Rate
Maintenance Margin = Contract Value × Maintenance Margin Rate
Initial vs. Maintenance Margin:
- Initial margin: Amount required to OPEN a position (typically 5–15% of contract value)
- Maintenance margin: Minimum equity to KEEP the position open (usually 70–80% of initial)
- If equity drops below maintenance, you receive a margin call
Typical margin requirements (approximate):
- ES (S&P 500 E-mini): ~$12,000 initial / ~$11,000 maintenance
- NQ (Nasdaq E-mini): ~$17,000 initial / ~$15,500 maintenance
- CL (Crude Oil): ~$8,000 initial / ~$7,000 maintenance
- GC (Gold): ~$10,000 initial / ~$9,000 maintenance
Day trade margins are often reduced to 25–50% of overnight margins by many brokers.
Important: Margin requirements change based on volatility. Exchanges increase margins during high-volatility periods.