What is an intraday margin call (IM Call)?
An Intraday Margin (IM) Call is a notification that your account does not have enough margin excess to support the day trades you made. This can happen when the value of your positions changes during the trading day. To resolve the call, you will need to deposit funds to cover the amount by the due date. If the call is not resolved by the due date, your account will be restricted to closing transactions only for 90 days.
What happens if I receive an IM Call?
Under the new rules, effective June 4:
IM Calls must be satisfied by the 5th business day (T+5)
The call can be met by depositing funds
Accounts that fail to meet the IM Call within 5 business days may be subject to a 90-day liquidation-only restriction
What does a 90-day liquidation-only restriction mean?
If a restriction is applied:
The account is limited to liquidation (sell-only) activity
New opening trades are not permitted
The restriction remains in place for 90 calendar days
What is Estimated Overnight Deficit (EOD)?
This calculation provides an estimate of the margin call that may be issued on the next business day if the deficit remains at market close. The actual amount is subject to change as position values fluctuate during the trading day, and includes funds reserved by pending orders. To mitigate risk, the deficit should be addressed by liquidating positions, cancelling pending opening-position orders, or depositing additional funds before market closure.