Can a Margin Call Be Issued for a Non-Leveraged Position?
No, a traditional margin call is not issued for a non-leveraged (spot) position, as there is no borrowed capital or risk of the account falling into a negative balance. A margin call is specific to leveraged trading, where the collateral must cover the borrowed amount.
In spot trading, a trader owns the asset outright, and the only risk is the value of the asset declining.