Micro Futures Margin Calculator
Futures margin is a refundable performance bond, not a loan. Pick a contract and a position size — this reference multiplies the dated per-broker intraday margins by your contract count. Every figure carries its as-of date because broker margins change without notice.
What margin actually is
Futures margin is a performance bond: a good-faith deposit the broker and exchange hold against potential daily losses while your position is open. Close the position and the bond is released. Nothing is borrowed and there is no interest charge — which is why a futures account needs no stock-style margin-loan agreement. Three layers matter:
- Initial margin — CME's published deposit to open a position held overnight.
- Maintenance margin — the balance you must keep while holding; falling below triggers a margin call.
- Intraday (day-trading) margin — the reduced broker-set deposit for positions closed before the session cutoff. This is the number day traders care about, and it is the one in the table above.
The figures behind the table
| Contract | NinjaTrader Free as of 11/13/2025 | Plus500 US fetched 2026-06-03 | Optimus “starts at” fetched 2026-06-03 |
|---|---|---|---|
| MES | $50 | $50 | $50 |
| MNQ | $100 | $100 | $100 |
| MYM | $50 | $50 | $50 |
| M2K | $50 | $50 | $50 |
| MGC | $200 | $125 | — |
| MCL | $100 | $80 | — |
- NinjaTrader figures are from the broker's commission/margin sheet stamped 11/13/2025 (Free plan). The risk team can raise intraday margins in real time during volatile sessions.
- Plus500 US figures were fetched 2026-06-03; the page shows no last-updated date and disclaims real-time accuracy.
- Optimus Futures advertises “start at” house minimums (fetched 2026-06-03) — treat them as floors, not quotes.
- Tradovate is intentionally absent: a widely-cited micro day-margin figure was refuted 0-3 during research, and no dated schedule was available to cite. Check tradovate.com directly.
The day-trading margins comparison covers the same data with fuller caveats and the volatility warning that belongs next to any margin number.
Margin is not risk
Margin tells you what the broker holds; it says nothing about what you can lose. A single MES contract at a $50 intraday margin can carry a 20-point stop — 80 ticks × $1.25 = $100 of risk, twice the margin. Size the trade with the position size calculator first, then confirm the margin requirement fits your account. Both constraints bind independently.
FAQ
- What is futures margin?
- A refundable performance bond - a good-faith deposit your broker and the exchange hold to cover potential daily losses while a position is open. It is not a loan and accrues no interest charge. CME sets exchange minimums; brokers can require more, or less intraday.
- Why does every margin figure on this page carry an as-of date?
- Because intraday margins are broker-set and change without notice, sometimes in real time during volatile sessions. A margin figure without a date is not trustworthy. This page's figures: NinjaTrader stamped 11/13/2025; Plus500 and Optimus fetched 2026-06-03.
- What is the difference between intraday and overnight margin?
- Intraday (day-trading) margin is the reduced deposit some brokers offer for positions closed before the session cutoff - often a fraction of the exchange minimum. Overnight (initial/maintenance) margin applies to positions held through the close and follows CME's published requirements.
- Why is there no Tradovate margin in this table?
- A widely-cited Tradovate micro day-margin figure was refuted across three independent verification sources during the research for this site, and Tradovate's page does not publish a dated schedule we could cite. Check tradovate.com directly for current margins.
- Does meeting margin mean a trade is affordable?
- No. Margin is what the broker holds; risk is what you can lose. A $50 intraday margin can sit under a position risking several hundred dollars at a wide stop. Size with a risk calculation first, then confirm the margin fits.
Sources
- NinjaTrader — futures commissions & margins PDF — stamped 11/13/2025
- Plus500 US — futures margins — fetched 2026-06-03
- Optimus Futures — margin rates — fetched 2026-06-03
- CME Group — performance bonds / margins — exchange minimums