Micro vs E-Mini Futures: Size and Risk Guide

Category: Getting Started | Date: 2026-05-06

Micro E-Mini vs E-Mini: What Is the Difference?

futures traders have two main contract sizes to choose from: the standard E-Mini and the smaller Micro E-Mini. The difference in size, margin, and risk is substantial — and choosing the wrong one can blow an account quickly.

This guide breaks down every futures contract size so you can trade the right product for your account balance and risk tolerance.

Contract Size Comparison

The Micro E-Mini is exactly one-tenth the size of the standard E-Mini. This makes it ideal for smaller accounts and tight risk control.

NQ (Nasdaq-100 E-Mini): $20 per point, $5 per tick
MNQ (Micro Nasdaq-100): $2 per point, $0.50 per tick
ES (S&P 500 E-Mini): $50 per point, $12.50 per tick
MES (Micro S&P 500): $5 per point, $1.25 per tick
YM (Dow E-Mini): $5 per point, $5 per tick
MYM (Micro Dow): $0.50 per point, $0.50 per tick

Margin Requirements

Margin is the deposit required to hold a position. Lower margin means you can trade more contracts — but it also means higher leverage and faster losses.

CME sets margin per contract and changes it when volatility changes.
Brokers set their own margin, and intraday margin is often a small fraction of overnight margin.
A micro needs about one-tenth of the margin of its E-mini.
Prop firms usually replace margin with a cap on contracts per account size.

Check your broker's current margin page before sizing. At prop firms, the contract cap is often counted in minis, with micros counted as a fraction of a mini. Confirm how your firm counts them in its rules.

Risk Per Trade

The most important factor is how much you lose on a normal losing trade. If your stop loss is 10 points away:

NQ: 10 points × $20 = $200 risk per contract
MNQ: 10 points × $2 = $20 risk per contract
ES: 10 points × $50 = $500 risk per contract
MES: 10 points × $5 = $50 risk per contract

On a $50,000 account with a 2% risk rule ($1,000 max loss), you could trade 5 NQ contracts or 50 MNQ contracts. The MNQ gives far more granular position sizing.

Which Should You Trade?

Trade Micros If...

A mini would risk more per trade than your plan allows
You want finer position sizing steps (one MNQ is a tenth of an NQ)
You are learning or testing a new strategy
You trade multiple instruments simultaneously

Trade Minis If...

Your per-trade risk fits the mini's dollar value per point
You have a proven, consistent strategy
Commission costs matter (fewer contracts = lower total fees)
You need to move size quickly in fast markets

Copy Trading and Contract Sizes

Contract size matters more when you trade several accounts. A trade copier lets you size each follower account separately, so a smaller account does not have to carry the same dollar risk as the leader.

The arithmetic: 2 NQ contracts move $40 per point. 10 MNQ contracts move $20 per point, which is half the dollar exposure. Work out the dollars per point for each account before you set any copy ratio.

Start with micros. Master the strategy. Scale to minis when your account size and consistency justify the larger position.

Ready to Scale from Micros to Minis?

Signal Trade App copies a trade from your leader account to follower accounts on Tradovate and Rithmic, with a copy ratio you choose per follower. Signal Trade App costs $29/month. The 5-day trial requires a card. A self-hosted version is a $599 one-time purchase.

Frequently Asked Questions

What is the difference between E-mini and Micro E-mini futures?

Micro E-mini contracts are one-tenth the size of the E-mini. For example, NQ is worth $20 per point and MNQ is worth $2 per point, and ES is worth $50 per point while MES is worth $5.

How much is one tick worth on NQ, MNQ, ES and MES?

NQ is $5 per tick, MNQ is $0.50, ES is $12.50 and MES is $1.25. The tick size is 0.25 index points on all four.

Do micro futures trade the same hours as E-minis?

Yes. CME equity index futures, micro and E-mini, trade on Globex from Sunday 6:00 pm to Friday 5:00 pm ET, with a one-hour break each day from 5:00 pm to 6:00 pm ET.

Should a beginner trade micros or minis?

Most beginners start with micros because each point is worth one-tenth as much, so mistakes cost less while you learn. Move to minis only when the dollar risk per trade fits your plan.

Are micro futures cheaper to trade?

Margin per contract is lower, but commissions are charged per contract. Ten micros usually cost more in fees than one mini, so compare total round-turn costs for the size you trade.

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