Complete Noob to Futures trading, although I have a few years experience in Forex and BTC trading. I had a question on some margin requirements a broker I was looking at. I'm looking at Generic Trade(generictrade(.)com/commissions/margins/) and their margin requirements, and they have an initial margin of X amount of $ and a "standard day trade margin" of y amount of $, typically much less than the initial margin requirement. Does this mean that my account must have atleast the sum of the initial margin plus the standard day trading margin to open a trade? Or is the initial margin waived so long as I open and close the trade on the same day during the trading period?

oahutradingprofit 

Complete Noob to Futures trading, although I have a few years experience in Forex and BTC trading. I had a question on some margin requirements a broker I was looking at. I'm looking at Generic Trade(generictrade(.)com/commissions/margins/) and their margin requirements, and they have an initial margin of X amount of $ and a "standard day trade margin" of y amount of $, typically much less than the initial margin requirement. Does this mean that my account must have atleast the sum of the initial margin plus the standard day trading margin to open a trade? Or is the initial margin waived so long as I open and close the trade on the same day during the trading period?

Typically the DT margins are what apply during all hours, while the Exchange specified (Init/Maint) margin levels are required if you hold you positions through the daily market close (main session, 4.00 CST for most US products). Your broker likely requires you to have the Init/Maint margin available from about 15 mins before market close or to flatten your position.

AFAIK, DT margins are what applies as soon as electronic post-market trading re-opens, so DT margins applies for like 23 hours each day. At least this is how AMP does it.

The various margins are not cumulative, rather it is the highest number that would be required.

EDIT: to be clear re your question: No, you do not need to meet the Init. Margin req as long as you close before market close.

You need only DT margin + your risks. For example $500 of DT margin + $2000 of risks.