+44 (0)20 3868 8510
08:00-17:00 London Time

Indicative margin requirements

  • Eurex Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Micro DAX Future 996 € 1,245 € 1,423 € 1,779 € 1 €
(1 tick = 1)
Mini DAX Future 4,979 € 6,224 € 7,113 € 8,891 € 5 €
(1 tick = 1)
DAX Future 24,893 € 31,117 € 35,562 € 44,452 € 25 €
(1 tick = 1)
Micro ESTOXX50 267 € 334 € 382 € 477 € 0.5 €
(1 tick = 0.5)
EuroStoxx50 Future 2,669 € 3,336 € 3,812 € 4,765 € 10 €
(1 tick = 1)
STOXX50 Future 3,035 € 3,794 € 3,035 € 3,794 € 10 €
(1 tick = 1)
VSTOXX Future 1,438 € 1,797 € 1,438 € 1,797 € 5 €
(1 tick = 0.05)
SMI Future 5,599 CHF 6,998 CHF 7,998 CHF 9,997 CHF 10 CHF
(1 tick = 1)
Bobl Future 2,553 € 3,191 € 2,553 € 3,191 € 10 €
(1 tick = 0.01)
Bund Future 4,249 € 5,312 € 4,249 € 5,312 € 10 €
(1 tick = 0.01)
Buxl Future 9,667 € 12,083 € 9,667 € 12,083 € 20 €
(1 tick = 0.02)
Schatz Future 1,019 € 1,273 € 1,019 € 1,273 € 5 €
(1 tick = 0.005)
OAT Future 4,011 € 5,014 € 4,011 € 5,014 € 10 €
(1 tick = 0.01)
Short-Term BTP Future 1,843 € 2,304 € 1,843 € 2,304 € 10 €
(1 tick = 0.01)
Long-Term BTP Future 5,069 € 6,336 € 5,069 € 6,336 € 10 €
(1 tick = 0.01)
  • French Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
FCE CAC40 4,143 € 5,179 € 5,919 € 7,398 € 5 €
(1 tick = 0.5)
Milling Wheat Futures 1,699 € 2,123 € 1,699 € 2,123 € 12.5 €
(1 tick = 0.25)
European Rapeseed Future 2,780 € 3,475 € 2,780 € 3,475 € 12.5 €
(1 tick = 0.25)
Corn 2,386 € 2,983 € 2,386 € 2,983 € 12.5 €
(1 tick = 0.25)
  • Italian Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Mini FTSE MIB Future 1,861 € 2,326 € 2,659 € 3,323 € 5 €
(1 tick = 5)
FTSE MIB Future 9,304 € 11,629 € 13,291 € 16,613 € 25 €
(1 tick = 5)
  • Spanish Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Mini IBEX Future 665 € 832 € 950 € 1,188 € 5 €
(1 tick = 5)
IBEX 35 Future 6,650 € 8,313 € 9,500 € 11,875 € 10 €
(1 tick = 1)
  • Netherlands Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
AEX Future 9,300 € 11,624 € 13,285 € 16,606 € 10 €
(1 tick = 0.05)
  • CME E-mini Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Micro E-mini S&P 500 Future 1,432 $ 1,575 $ 2,045 $ 2,249 $ 1.25 $
(1 tick = 0.25)
E-mini S&P 500 Future 14,312 $ 15,743 $ 20,446 $ 22,490 $ 12.5 $
(1 tick = 0.25)
Micro E-mini NASDAQ 100 Future 1,724 $ 1,896 $ 2,462 $ 2,708 $ 0.5 $
(1 tick = 0.25)
E-mini NASDAQ 100 Future 17,232 $ 18,955 $ 24,617 $ 27,078 $ 5 $
(1 tick = 0.25)
Micro E-mini Russell 2000 Future 699 $ 873 $ 998 $ 1,247 $ 0.5 $
(1 tick = 0.1)
E-mini Russell 2000 Future 6,984 $ 8,729 $ 9,976 $ 12,470 $ 5 $
(1 tick = 0.1)
E-mini S&P 400 Future 15,683 $ 19,603 $ 22,404 $ 28,004 $ 10 $
(1 tick = 0.1)
E-mini Euro FX Future 1,855 $ 2,319 $ 1,855 $ 2,319 $ 6.25 $
(1 tick = 0.0001)
E-mini JPY Future 1,376 $ 1,719 $ 1,376 $ 1,719 $ 6.25 $
(1 tick = 0.0001)
  • CBOT E-mini Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Micro E-Mini DJ Future 906 $ 1,041 $ 1,294 $ 1,487 $ 0.5 $
(1 tick = 1)
E-mini DJ Future 9,052 $ 10,409 $ 12,931 $ 14,870 $ 5 $
(1 tick = 1)
  • NYMEX E-mini Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
E-mini Crude Oil Future 10,000 $ 13,500 $ 10,000 $ 13,500 $ 12.5 $
(1 tick = 0.025)
E-mini Natural Gas Future 4,911 $ 6,139 $ 4,911 $ 6,139 $ 12.5 $
(1 tick = 0.005)
  • COMEX E-mini Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
E-mini Copper Future (QC) 3,780 $ 4,724 $ 3,780 $ 4,724 $ 25 $
(1 tick = 0.002)
E-miNY Gold Future (QO) 4,042 $ 5,052 $ 4,042 $ 5,052 $ 12.5 $
(1 tick = 0.25)
E-miNY Silver Future (QI) 6,131 $ 7,663 $ 6,131 $ 7,663 $ 31.25 $
(1 tick = 0.0125)
  • CME Globex Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Euro FX Future 3,710 $ 4,637 $ 3,710 $ 4,637 $ 12.5 $
(1 tick = 0.0001)
AUD/USD Future 2,707 $ 3,383 $ 2,707 $ 3,383 $ 10 $
(1 tick = 0.0001)
CAD/USD Future 2,516 $ 3,145 $ 2,516 $ 3,145 $ 10 $
(1 tick = 0.0001)
CHF/USD Future 3,860 $ 4,825 $ 3,860 $ 4,825 $ 12.5 $
(1 tick = 0.0001)
GBP/USD Future 3,524 $ 4,404 $ 3,524 $ 4,404 $ 6.25 $
(1 tick = 0.0001)
JPY/USD Future 2,751 $ 3,438 $ 2,751 $ 3,438 $ 12.5 $
(1 tick = 0.0001)
MXN/USD Future 1,481 $ 1,852 $ 1,481 $ 1,852 $ 12.5 $
(1 tick = 0.0025)
NZD/USD Future 1,957 $ 2,446 $ 1,957 $ 2,446 $ 10 $
(1 tick = 0.0001)
EUR/CHF Future 6,483 CHF 8,104 CHF 6,483 CHF 8,104 CHF 12.5 CHF
(1 tick = 0.0001)
EUR/GBP Future 5,484 £ 6,855 £ 5,484 £ 6,855 £ 6.25 £
(1 tick = 0.00005)
EUR/JPY Future 735,992 JPY 919,990 JPY 735,992 JPY 919,990 JPY 1,250 JPY
(1 tick = 0.01)
Nikkei $ 225 Future (NKD) 11,103 $ 13,879 $ 11,103 $ 13,879 $ 25 $
(1 tick = 5)
Eurodollar Future 750 $ 938 $ 750 $ 938 $ See CME site
E-micro Euro FX Future 371 $ 464 $ 371 $ 464 $ 1.25 $
(1 tick = 0.0001)
E-micro GBP/USD Future 353 $ 441 $ 353 $ 441 $ 0.625 $
(1 tick = 0.0001)
E-micro AUD/USD Future 271 $ 339 $ 271 $ 339 $ 1 $
(1 tick = 0.0001)
E-micro CAD/USD Future 252 $ 315 $ 252 $ 315 $ 1 $
(1 tick = 0.0001)
E-micro CHF/USD Future 386 $ 483 $ 386 $ 483 $ 1.25 $
(1 tick = 0.0001)
Class III Milk Future 3,328 $ 4,160 $ 3,328 $ 4,160 $ 20 $
(1 tick = 0.01)
Feeder Cattle Future 6,013 $ 7,516 $ 6,013 $ 7,516 $ 12.5 $
(1 tick = 0.025)
Lean Hogs Future 3,872 $ 4,840 $ 3,872 $ 4,840 $ 10 $
(1 tick = 0.025)
Live Cattle Future 3,047 $ 3,809 $ 3,047 $ 3,809 $ 10 $
(1 tick = 0.025)
Lumber Future 9,599 $ 11,999 $ 9,599 $ 11,999 $ 11 $
(1 tick = 0.1)
  • CBOT Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
2 Year T-Note Future 1,252 $ 1,565 $ 1,252 $ 1,565 $ See CME site
5 Year T-Note Future 1,400 $ 1,750 $ 1,400 $ 1,750 $ See CME site
10 Year T-Note Future 1,801 $ 2,252 $ 1,801 $ 2,252 $ See CME site
30 Year T-Bond Future 4,581 $ 5,726 $ 4,581 $ 5,726 $ See CME site
Corn Future 2,906 $ 3,632 $ 2,906 $ 3,632 $ 12.5 $
(1 tick = 0.25)
Oat Future 6,008 $ 7,510 $ 6,008 $ 7,510 $ 12.5 $
(1 tick = 0.25)
Mini Soybean Future 1,141 $ 1,427 $ 1,141 $ 1,427 $ 1.25 $
(1 tick = 0.125)
Soybean Future 5,705 $ 7,131 $ 5,705 $ 7,131 $ 12.5 $
(1 tick = 0.25)
Soybean Oil Future 4,384 $ 5,480 $ 4,384 $ 5,480 $ 6 $
(1 tick = 0.01)
Soybean Meal Future 4,276 $ 5,345 $ 4,276 $ 5,345 $ 10 $
(1 tick = 0.1)
Mini Wheat Future 1,253 $ 1,567 $ 1,253 $ 1,567 $ 1.25 $
(1 tick = 0.125)
Wheat Future 6,265 $ 7,831 $ 6,265 $ 7,831 $ 12.5 $
(1 tick = 0.25)
  • NYMEX Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Micro WTI Crude Oil Future 2,000 $ 2,700 $ 2,000 $ 2,700 $ 1 $
(1 tick = 0.01)
Crude Oil Future 20,000 $ 27,000 $ 20,000 $ 27,000 $ 10 $
(1 tick = 0.01)
Brent Crude Oil Future (BZ) 20,000 $ 27,000 $ 20,000 $ 27,000 $ 10 $
(1 tick = 0.01)
Heating Oil Future 26,040 $ 35,154 $ 26,040 $ 35,154 $ 4.2 $
(1 tick = 0.0001)
Natural Gas Future 20,130 $ 25,163 $ 20,130 $ 25,163 $ 10 $
(1 tick = 0.001)
RBOB Gas Future 25,200 $ 34,020 $ 25,200 $ 34,020 $ 4.2 $
(1 tick = 0.0001)
Palladium Future 40,230 $ 217,480 $ 40,230 $ 217,480 $ 5 $
(1 tick = 0.05)
Platinum Future 6,114 $ 7,642 $ 6,114 $ 7,642 $ 5 $
(1 tick = 0.1)
  • COMEX Futures
Instrument Intraday margin(1) Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin
Copper Future (HG) 7,559 $ 9,448 $ 7,559 $ 9,448 $ 12.5 $
(1 tick = 0.0005)
Gold Future (GC) 8,084 $ 10,104 $ 8,084 $ 10,104 $ 10 $
(1 tick = 0.1)
Silver Future (SI) 12,261 $ 15,326 $ 12,261 $ 15,326 $ 25 $
(1 tick = 0.005)
  • CME Cryptocurrency Future
Instrument Intraday margin(1) Overnight margin(1) Short Overnight margin(1) Value of 1 tick(1)
Position maintenance Initial margin Position maintenance Initial margin Short position maintenance Short initial margin
Micro Bitcoin Future 1,023 $ 1,279 $ 1,023 $ 1,279 $ 2,046 $ 2,557 $ 0.5 $
(1 tick = 5)
Mini Ether Future 70 $ 87 $ 70 $ 87 $ 139 $ 174 $ 0.05 $
(1 tick = 0.5)
Bitcoin Future 51,130 $ 63,913 $ 51,130 $ 63,913 $ 102,260 $ 127,825 $ 25 $
(1 tick = 5)
Ethereum Future 34,714 $ 43,393 $ 34,714 $ 43,393 $ 69,428 $ 86,785 $ 12.5 $
(1 tick = 0.25)
  • Forex CFD

The margin rate for a currency pair is the maximum between the rates of the two currencies.

Currency Margin(1) Margin examples with position value of
Initial margin Position Maintenance 10,000 50,000
Initial margin Position Maintenance Initial margin Position Maintenance
USD, CAD 3.33 % 2.5 % 333 250 1,665 1,250
EUR, JPY, CHF 3.33 % 3 % 333 300 1,665 1,500
AUD, NOK, NZD, SEK 5 % 3 % 500 300 2,500 1,500
CZK, HUF, ILS, PLN, SGD 5 % 5 % 500 500 2,500 2,500
GBP 7 % 5 % 700 500 3,500 2,500
DKK 10 % 5 % 1,000 500 500 2,500
MXN 10 % 6 % 1,000 600 5,000 3,000
ZAR 10 % 7 % 1,000 700 5,000 3,500
HKD, KRW, THB 10 % 10 % 1,000 1,000 5,000 5,000
CNH 12 % 12 % 1,200 1,200 6,000 6,000
RUB 20 % 20 % 2,000 2,000 10,000 10,000
TRY 30 % 30 % 3,000 3,000 15,000 15,000
  • Cash Currency

The margin rate for a currency pair is the maximum between the rates of the two currencies.

Currency Margin(1) Margin examples with position value of
10,000 50,000 100,000
USD, CAD 2.5 % 250 1,250 2,500
EUR, JPY, AUD, CHF, SEK, NOK, NZD 3 % 300 1,500 3,000
GBP, SGD, HUF, ILS 7 % 700 3,500 7,000
CZK, MXN, DKK 10 % 1,000 5,000 10,000
HKD 12 % 1,200 6,000 12,000
CNH 15 % 1,500 7,500 15,000
  • Maximum order size
Currency Maximum order size
AUD 6,000,000
CAD 6,000,000
CHF 6,000,000
CNH 40,000,000
CZK 7,000,000
DKK 35,000,000
EUR 6,000,000
GBP 5,000,000
HKD 50,000,000
HUF 7,000,000
ILS 7,000,000
JPY 550,000,000
KRW 200,000,000
MXN 70,000,000
NOK 35,000,000
NZD 8,000,000
PLN 7,000,000
RUB 30,000,000
SEK 40,000,000
SGD 8,000,000
USD 7,000,000
ZAR 100,000,000
  • Precious metals
Metal Margin(1) Margin examples with position value of
Position maintenance Initial margin 50,000 100,000
Position Maintenance Initial Margin Position Maintenance Initial Margin
London gold ounce (XAU/USD) 5 % 6.25 % 2,500 $ 3,125 $ 5,000 $ 6,250 $
London silver ounce (XAG/USD) 9 % 14.85 % 4,500 $ 7,425 $ 9,000 $ 14,850 $

(1)Indicative margin requirements

Margin and tick value information in this document is indicative.
Margins, Intraday margins and overnight margins are subject to frequent changes. Tick value is subject to modifications by exchanges.
Intraday margins can be suspended without prior notice (overnight margins apply in that case).
If an account holds both futures and options contracts on the same underlying asset, overnight margin always applies instead of intraday margin, even during the intraday trading day hours.