# Margin Call — Financial Simulation Terminal

> Trade stocks, crypto, options, bonds, and forex. Found your own company. Navigate economic cycles. Free browser game at margincall.io.

Margin Call is a free, browser-based stock market and business simulator. No account, download, or payment required. Everything runs client-side.

## What players can do

- Trade 108 stocks across 12 sectors with a 14-factor price model and GARCH(1,1) volatility
- Price and trade options using real Black-Scholes with Greeks (delta, gamma, theta, vega)
- Trade 16 cryptocurrencies 24/7 with BTC halvings, altseasons, and DeFi yields
- Trade 10 forex currency pairs with leverage up to 50x and carry trade interest
- Buy and sell corporate bonds with a full yield curve
- Bet on prediction markets with Bayesian price updates
- Found companies from scratch — hire, R&D, raise funding, IPO
- Launch corporate takeovers and proxy fights
- Run a hedge fund with LP investors, 2/20 fee structure, and quarterly reports
- Build a multi-generational dynasty with heirs, estates, and family trusts
- Buy real estate, lifestyle assets (yachts, art, sports teams)
- Lobby politicians, bribe officials, trade on insider tips, manage SEC heat
- Play scenario modes with special rules (shorts only, options only, crisis conditions)
- Compete against 8 AI opponent archetypes with distinct strategies
- Prestige system — New Game+ with stacking bonuses across resets

## Simulation engine

- 14-factor additive stock price model per tick (economic impact, sector momentum, company news, order flow, sentiment, mean-reversion, cycle drift, earnings drift, company risk, PE mean-reversion, equity risk premium, value/growth, GARCH noise, short squeeze)
- Macro economy driven by Phillips Curve inflation, Okun's Law unemployment, Taylor Rule interest rates, and Weibull business cycles
- Merton distance-to-default bankruptcy model
- VIX model with asymmetric response, crisis spikes up to 80, and persistent elevated volatility
- Earnings IV pre-pricing (+15% ramp over 7 days) and post-earnings vol crush (30%)
- Interest rate transmission to corporate EPS via debt service costs
- Correlation spike during crises (VIX > 40) — diversification fails when it matters most
- Circuit breaker at ±25% daily per stock, ±0.5% per tick
- Wealth-based difficulty scaling (SEC heat at $100M+, AI aggression at $500M+)
- Seeded PCG32 PRNG for deterministic, reproducible simulations
- Rust/WASM acceleration for pricing, GARCH, bonds, and economy calculations

## Technical details

- Built with Next.js 15, TypeScript, Zustand, Tailwind CSS, Rust/WASM
- ~95K lines of TypeScript + 4.5K lines of Rust
- CRT terminal aesthetic (IBM Plex Mono, phosphor glow, scanlines)
- Mobile-optimized with dedicated component tree and touch-first tutorial
- IndexedDB persistence — game saves locally, no server needed
- Supabase leaderboard (optional)
- 0 npm vulnerabilities, GitHub Actions CI

## Links

- Website: https://margincall.io
- About: https://margincall.io/about
- Help: https://margincall.io/help
- Contact: https://margincall.io/contact
- Twitter: https://x.com/margincallgame

## Contact

Email: ask@margincall.io

## Version

v0.6.0 — April 2026