Day-Trading Disclosure
The protection of one's personal information is the type of thing that every
online trader needs to be able to take for granted. At optionsXpress, we consider
it to be among our most important responsibilities.
Every trader has the ability to select whether they would like standard exchange-minimum margins or special day trading margins in select markets. Reduced day trading margins are useful to short-term traders seeking to generate returns by quickly moving in and out of futures markets.
Select liquid and actively traded futures markets are day trade eligible. An account may be configured to trade these markets with just 50% of the regular margin requirement. For example, if the current margin for an E-mini Dow Jones contract is $3,125, the day trade margin required will be 50% of $3,125 or $1,562. Non day trade eligible contacts will be computed at full (100%) margin requirements. Accounts will reflect the proper margin requirements for each position -- 50% on day trade eligible contracts, and 100% on non day trade eligible contracts.
Each day, at 4:15 PM Eastern time, the optionsXpress system automatically evaluates each account using the full maintenance margin requirement (100%). The system checks if the total equity in the account is equal to or greater than the full maintenance margin. If so, the account will continue to receive day trade margins. If the account equity falls short of the full maintenance margin at this time, the account may revert to full margins on all open positions. This will generate a margin call, and may lead to a liquidation procedure. Frequent or severe margin call issues while on day trade margins may lead to the removal of day trade margin privileges.
To be eligible to receive day trade margins, an account balance of at least $1,000 must be maintained at all times. We reserve the right to deny or remove day trade margins to any contract or account without notice. If you have any other questions or concerns about day trade margins, please contact customer support.
| Day Trade Eligible Contracts | ||
| Name | Symbol | Exchange |
| AUSTRALIAN DOLLAR | AD | CME |
| BRITISH POUND | BP | CME |
| CANADIAN DOLLAR | CD | CME |
| CORN | C | CBOT |
| DOW JONES IND. INDEX | DJ | CBOT |
| DOW JONES, MINI | YM | CBOT |
| EURO CURRENCY | EC | CME |
| EURO CURRENCY, E-MINI | E7 | CME |
| EURODOLLAR, CME | ED | CME |
| JAPANESE YEN | JY | CME |
| JAPANESE YEN, E-MINI | J7 | CME |
| NASDAQ 100 INDEX | ND | CME |
| NASDAQ 100, E-MINI | NQ | CME |
| NATURAL GAS, MINI | QG | NYMEX |
| NIKKEI 225 INDEX, CME | NK | CME |
| OATS | O | CBOT |
| S&P 500 INDEX | SP | CME |
| S&P 500, E-MINI | ES | CME |
| S&P MIDCAP 400 INDEX | MD | CME |
| S&P MIDCAP 400, E-MINI | EMD | CME |
| SOYBEANS | S | CBOT |
| SWISS FRANC | SF | CME |
| T-NOTE, 10 YR. | TY | CBOT |
| T-NOTE, 2 YR. | TU | CBOT |
| T-NOTE, 5 YR. | FV | CBOT |
| TREASURY BONDS | US | CBOT |
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