The margin ratio of external futures is generally small in China, maintaining between 5%- 10%, so the leverage is slightly larger.

The margin ratio is floating, so the specific value is also floating.

The fluctuation of external futures is smaller than that of internal futures, but it is around 10 USD.

Maintenance margin refers to the funds needed to maintain a position. Generally, it is about 75% of the opening margin. Take Meijing Copper as an example. If you buy a second-hand opening margin, the margin amount is 9450 USD, and the maintenance margin is 9450X75%=7087 USD. When the loss of the position is less than $7,087, you will be informed of the additional margin (the obligation of the futures company is actually to close the position). When the position is less than half of the maintenance margin, that is, 7087x50% = $3,543 (the loss has been 62.5%, and the open position has been consumed by $5,906.25), the futures company will forcibly close the position.

If you operate heavily, such as holding 90% positions, when losses occur, you will constantly withdraw funds from unused funds, and your available funds are very small, so you will often be out before reaching 75% of the maintenance margin line. However, this kind of explosion is different from the explosion with negative losses. Because of the heavy warehouse operation, the customer's account funds are still huge after the explosion, and the loss is actually very small, so the heavy warehouse operation is not terrible.