Hi Charlotte,
you may misunderstood my question or maybe I misunderstood your answer
I am not asking why margin rate is 100%. What I am asking is that when I buy at that rate, there is essentially no leverage, whole my position is covered by cash, right? So in theory my equity should be able to go down to zero without a single margin call, that's because everything is covered already and IG is not exposed.
Yet I received margin call emails and had to topup my account, hence my question.
Thanks.