Mini vs Micro Futures: Which One Should You Trade?
Introduction
With the rise of retail futures trading, exchanges have introduced smaller-sized contracts to help traders manage risk. In this post, we compare mini vs micro futures—highlighting their key differences, pros and cons, and when to use each based on your account size and strategy.
1. What Are Mini and Micro Futures?
Both contract types offer exposure to popular futures markets (like the S&P 500, Nasdaq, gold, and forex), but they differ in size:
- Mini Futures (E-mini): A fraction (typically 1/5) of the full-size contract
- Micro Futures: Even smaller—typically 1/10 the size of a mini
Examples:
- E-mini S&P 500 (ES): 50x the S&P 500 index
- Micro S&P 500 (MES): 5x the S&P 500 index
2. Key Differences: Mini vs Micro Futures
| Feature | Mini Futures | Micro Futures |
|---|---|---|
| Contract Size | Moderate | Small |
| Margin Requirement | Higher | Lower |
| Tick Value | Larger | Smaller |
| Liquidity | Higher | Slightly lower |
| Ideal For | Intermediate+ | Beginners/Retail |
Micro contracts make futures trading more accessible, especially for smaller accounts.
3. When to Trade Micro Futures
Choose micro futures if you:
- Are new to futures trading
- Have a small account ($1,000–$5,000)
- Want to test strategies with limited exposure
- Prefer smaller, incremental position sizes
Popular contracts:
- MES (Micro S&P 500)
- MNQ (Micro Nasdaq)
- MGC (Micro Gold)
4. When Mini Futures Are Better
Mini contracts suit you if you:
- Need more liquidity
- Have a larger trading account
- Want larger profits per tick (higher risk/reward)
- Scale in/out of larger positions more efficiently
Popular examples:
- ES (E-mini S&P 500)
- NQ (E-mini Nasdaq)
- CL (Crude Oil) – Note: No micro version available
5. Cost, Margin, and Accessibility
| Category | Mini Futures | Micro Futures |
|---|---|---|
| Day Margin | ~$1,000+ | ~$50–$100 |
| Tick Value | $12.50 (ES) | $1.25 (MES) |
| Commissions | Slightly higher per contract but often negligible for micros due to size |
Micro futures allow more traders to participate in the same markets without excessive leverage.
Conclusion
When comparing mini vs micro futures, the right choice depends on your risk tolerance, account size, and trading experience. Micros offer flexibility for beginners and risk-conscious traders, while minis provide deeper liquidity and greater efficiency for experienced traders. Use both strategically as your confidence and capital grow.
FAQs
What are micro futures?
Micro futures are smaller-sized contracts that represent a fraction of standard or mini contracts—ideal for smaller accounts.
Can I trade both mini and micro futures?
Yes, and some traders even scale between the two based on trade size and market conditions.
Are micro futures good for beginners?
Yes, they’re designed to help new traders get started with lower capital and risk.
Is liquidity a concern in micro futures?
Not significantly—major contracts like MES and MNQ have high liquidity during U.S. trading hours.
Which futures broker supports micro contracts?
Most U.S.-based brokers like NinjaTrader, Tradovate, and Interactive Brokers support micro trading.
