What is an EM (Equity Maintenance) Call?

An "Equity Maintenance" or EM call is a notification issued when a pattern day trader's account equity falls below the $25,000 minimum requirement.

You will be considered a pattern day trader if:

  1. You execute 4 or more day trades over 5 consecutive business days
  2. Your day trading activities represent 6% or more of your total trading volume over the same 5 day period

The $25,000 minimum equity requirement applies to any day when you engage in day trading. This $25,000 must be deposited in your account before any day trading begins and must be maintained at all times.

If your account equity falls below $25,000 at any point, you will receive an EM call and will not be permitted to conduct any day trades until you deposit funds to restore your account equity to $25,000 or higher.