# Micro vs mini futures

> Micro futures are one-tenth the size of the matching E-mini contract. One E-mini S&P 500 (ES) contract moves $50 per index point; one Micro E-mini (MES) moves $5. Both tick in quarter points, so each tick is worth $12.50 on ES and $1.25 on MES. Ten micros carry the same exposure as one mini.

**Source:** https://propfirmpal.com/learn/micro-vs-mini-futures  
**Generated:** 2026-09-19  
**Publisher:** Prop Firm Pal — independent prop firm comparison

_Prop Firm Pal earns affiliate commission from some listed firms. This is disclosed on-site and does not affect the computed ranking order._

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_Facts checked 2026-09-15._

## Mini and micro contracts side by side

Micros track exactly the same market as their E-mini counterparts, trade the same hours and expire in the same months. Only the size differs.

| Contract | Symbol | Size | Tick size | Tick value | Value per point |
| --- | --- | --- | --- | --- | --- |
| E-mini S&P 500 | ES | $50 × index | 0.25 | $12.50 | $50 |
| Micro E-mini S&P 500 | MES | $5 × index | 0.25 | $1.25 | $5 |
| E-mini Nasdaq-100 | NQ | $20 × index | 0.25 | $5.00 | $20 |
| Micro E-mini Nasdaq-100 | MNQ | $2 × index | 0.25 | $0.50 | $2 |
| E-mini Dow | YM | $5 × index | 1.00 | $5.00 | $5 |
| Micro E-mini Dow | MYM | $0.50 × index | 1.00 | $0.50 | $0.50 |
| E-mini Russell 2000 | RTY | $50 × index | 0.10 | $5.00 | $50 |
| Micro E-mini Russell 2000 | M2K | $5 × index | 0.10 | $0.50 | $5 |
| Crude oil | CL | 1,000 barrels | $0.01 | $10.00 | $1,000 per $1 |
| Micro crude oil | MCL | 100 barrels | $0.01 | $1.00 | $100 per $1 |
| Gold | GC | 100 troy ounces | $0.10 | $10.00 | $100 per $1 |
| Micro gold | MGC | 10 troy ounces | $0.10 | $1.00 | $10 per $1 |

_Source: CME Group contract specifications. Tick value = tick size × contract multiplier._

## Why prop traders use micros

A drawdown limit is a fixed dollar amount, so contract size decides how much room a trade gets. On a $2,000 limit, one NQ contract can lose 100 index points before the limit is hit; one MNQ contract can lose 1,000. Micros let a trader size a position in steps of one-tenth instead of all or nothing.

The trade-off is cost. Commissions and exchange fees are charged per contract, so ten micro contracts usually cost more to trade than one mini with the same exposure.

## Contract limits at prop firms

Futures prop firms cap how many contracts an account can hold, and they count micros in different ways: some treat ten micros as one mini, others set a separate micro limit. Check how your firm counts them before sizing up.

## Frequently asked questions

### How many micro contracts equal one mini?

Ten. A micro is one-tenth the size of its E-mini.

### What is MES?

MES is the Micro E-mini S&P 500 future. It is worth $5 per index point, and each 0.25-point tick is worth $1.25.

### What is MNQ?

MNQ is the Micro E-mini Nasdaq-100 future. It is worth $2 per index point, and each 0.25-point tick is worth $0.50.

### Do micro futures trade at the same times as minis?

Yes. Micro and E-mini contracts on the same index trade the same hours on CME Globex and expire in the same months.

## Related pages

- [Futures tick values](https://propfirmpal.com/learn/futures-tick-values)
- [Futures trading hours](https://propfirmpal.com/learn/futures-trading-hours)
- [Micro contract in the glossary](https://propfirmpal.com/glossary/micro-contract)
- [Drawdown calculator](https://propfirmpal.com/calculators/drawdown)
- [Futures trading hours](https://propfirmpal.com/learn/futures-trading-hours) — markdown: https://propfirmpal.com/learn/futures-trading-hours.md
- [Futures contract month codes](https://propfirmpal.com/learn/futures-contract-month-codes) — markdown: https://propfirmpal.com/learn/futures-contract-month-codes.md
- [Futures tick values](https://propfirmpal.com/learn/futures-tick-values) — markdown: https://propfirmpal.com/learn/futures-tick-values.md