When do you get margin calls- stock and futures

Hi all, I am slightly confused with the margin calls. When we get the margin call- when the value of equity/balance: reaches the maintenance margin or fall below it?

Falls below it. You need to bring the balance up to the initial margin

When it falls below. When it is at margin, you don’t get a call yet. At any cent up (if short sell) or cent down (if long) in the price of the stock, you get a call.

And for stocks you just get it up to the maintenance margin level, and in futures up to the initial margin level.

for futures, menti margin plus variance margin. not initial margin

I think you’re right, I’ll have to do an example of that.

For futures indeed, the variation margin is deposited to bring the margin account to the initial maintenance margin. Not for stocks.

no, there is a bit of a trick with that, and it is better with an example. I’ll get back to you on that.