Why micros took off
CME reported a record year across the board. Here are the numbers that matter for small traders.
| 2025 metric (CME) | Figure |
|---|---|
| Total CME average daily volume | Record 28.1 million contracts |
| Micro E-mini S&P 500 futures ADV | Up 35% to 1.2 million |
| Micro E-mini Nasdaq-100 futures ADV | Record 1.6 million |
| Micro equity index futures and options ADV | 2.8 million, 40.5% of equity index ADV |
| Micro Gold futures ADV | Record 325,000 |
| Micro Silver futures ADV | Record 48,000 |
Source: >CME Group, January 5, 2026
Deep volume matters to you for one reason. It helps keep the spread tight when you get in and out.
The contract specs you need
Everything in sizing starts with two numbers: dollars per point and the tick size.
| Contract | Symbol | Multiplier | Minimum tick | Dollars per tick |
|---|---|---|---|---|
| Micro E-mini Nasdaq-100 | MNQ | $2 × Nasdaq-100 index | 0.25 index points | $0.50 |
| Micro E-mini S&P 500 | MES | $5 × S&P 500 index | 0.25 index points | $1.25 |
| Micro Gold | MGC | 10 troy ounces | $0.10 per ounce | $1.00 |
| E-mini Nasdaq-100 (for scale) | NQ | $20 × Nasdaq-100 index | 0.25 index points | $5.00 |
| Gold (for scale) | GC | 100 troy ounces | $0.10 per ounce | $10.00 |
Sources: CME contract pages for >MNQ, >MES, >NQ, >Micro Gold and the >CME gold comparison sheet. Dollars per tick for the index contracts is our arithmetic: tick size × multiplier. For example, 0.25 × $2 = $0.50 on MNQ.
A quick read of the table:
- MNQ is 1/10 of NQ. One NQ point is $20. One MNQ point is $2.
- MES moves $5 per S&P point.
- MGC moves $1 for every 10-cent tick in gold.
A 20-point stop does not mean the same thing on both index contracts. The Nasdaq-100 and S&P 500 trade at different levels and move by different amounts. Size each one from its own stop.
How to size a micro trade
The formula is short:
Risk per contract = stop in points × dollars per point + round-trip fees + slippage
Here it is with the example defaults from Loomi's Prop Coach planner: a 20-point stop, $2.50 round-trip fee per contract and 2 ticks of slippage allowance. Swap in your own numbers.
| Step | MNQ | MES |
|---|---|---|
| Stop cost: 20 points × point value | 20 × $2 = $40.00 | 20 × $5 = $100.00 |
| Round-trip fee (example) | $2.50 | $2.50 |
| Slippage: 2 ticks × tick value | 2 × $0.50 = $1.00 | 2 × $1.25 = $2.50 |
| Total risk per contract | $43.50 | $105.00 |
Now fit that into your account.
Worked example with a $2,000 loss limit. Topstep's 50K Trading Combine has a $2,000 max drawdown, per Loomi's Prop Zone rulebook. The Prop Coach FAQ describes its method. It divides your remaining loss room across your chosen losing sessions plus one reserve session, and fits two losses inside each day.
- Five losing sessions plus one reserve = 6 sessions
- $2,000 ÷ 6 = $333.33 per session
- Two losses per session: $333.33 ÷ 2 = $166.67 per trade
- MNQ: $166.67 ÷ $43.50 = 3.8, so 3 contracts
- MES: $166.67 ÷ $105.00 = 1.6, so 1 contract
Round down every time. The planner also checks any tighter daily limit and your contract cap, so its receipt can come out smaller than this sketch.
Micro Gold works the same way. A 30-tick stop on MGC is 30 × $1.00 = $30 per contract before fees and slippage.
Common starter mistakes
- Sizing from the account label. Prop Coach puts it well: "A $50K label is not $50K of spendable risk." Size from the loss room you actually have.
- Forgetting costs. On a tight MNQ stop, the fee and slippage in the example above add $3.50 to a $40 stop. That's almost 9% extra risk.
- Scaling a full-size backtest down by ten. Commissions are charged per contract. Under a flat per-contract fee, ten MNQ pay ten commissions where one NQ pays one, for the same exposure.
- Ignoring prop firm ratios. Topstep counts micros at a 10:1 ratio against its full-size contract limits, per the Prop Zone rulebook.
How to use it on the Loomi.Ai Desk
Two Loomi tools cover the sizing and the setup.
Prop Coach (free planner). Step 4 of the planner lets you pick "MNQ · $2 per point" or "MES · $5 per point," using a 0.25 tick. You enter your stop, contract cap, fees, slippage and losing sessions to preserve. It returns contract size, stop in dollars and points, a daily quit level and a profit pace on a receipt you can print. It covers 10 firms, and it never connects to a broker.
Futures strategies in the Strategy Lab. Several published strategies trade the markets above:
| Strategy | Market | Published record (backtested) |
|---|---|---|
| Coil | NQ · 60m | 69% win · 1.82 PF |
| Trend Lock | NQ · 60m | 72% win · 2.53 PF |
| Rebound | NQ · 15m | 69% win · 1.83 PF |
| Inside Job | GC · 5m | 74.5% win · 3.00 PF |
Read these carefully. Loomi's tests use full-size contracts with $0.62 commission per contract per side, one tick of slippage and fixed size. The ORB v7.7L results page says its dollar figures are "native NQ results, with no micro-contract conversion." We don't convert them here either, because per-contract costs don't scale down by ten. Backtests are hypothetical.
The Desk is $8/mo intro, then $20/mo.
Put the research to work on your Desk
Explore the tools behind the research, compare the available access, or open your Desk if you already have an account.
FAQ
What is the MNQ tick value? MNQ moves in 0.25-point ticks at $2 per point, so one tick is $0.50 and one full point is $2.
MNQ vs MES: which is better for a small account? Neither is better by default. MNQ is $2 per Nasdaq-100 point and MES is $5 per S&P 500 point. Pick the market you know, then size from your stop in dollars.
How much money do I need to trade micro futures? It depends on your broker's margin and the stop you trade. Margin changes and varies by broker, so check yours. For risk, start from the loss you can take per trade and work backward, as in the example above.
Can I trade micros at a prop firm? Prop firm programs set their own contract limits and micro ratios. Topstep, for example, uses a 10:1 micro ratio against its full-size limits. Check your exact program in the Prop Zone rulebook and on your firm dashboard.
Loomi.Ai provides educational market research, not financial advice. Futures trading involves substantial risk of loss, and backtested results are hypothetical.
Sources
- >CME Group Reports Record Annual ADV of 28.1 Million Contracts in 2025, Up 6% Year Over Year, CME Group
- >Micro E-mini Nasdaq-100 Index Futures Contract Specs, CME Group
- >Micro E-mini S&P 500 Index Futures Contract Specs, CME Group
- >E-mini Nasdaq-100 Futures Contract Specs, CME Group
- >Micro Gold and Micro Silver futures product overview, CME Group
- >Gold futures side-by-side comparison (PDF), CME Group
- >Prop Coach and >The Prop Zone: Topstep, Loomi.Ai
- >Backtest Results and >Strategy Lab, Loomi.Ai