Micro E-mini equity index futures generally use one-tenth the multiplier of their corresponding E-mini contract. MES is $5 per S&P 500 point versus $50 for ES; MNQ is $2 per Nasdaq-100 point versus $20 for NQ.
| MES / ES | $5 / $50 per point |
|---|---|
| MNQ / NQ | $2 / $20 per point |
| Purpose | More granular sizing |
How it works
The underlying index movement is the same, but the multiplier and tick value differ.
- Define the contract and expiration month
- Convert the price move into points and ticks
- Multiply by the contract's verified point or tick value
- Account for fees, liquidity, and risk limits
Worked example
Micro contracts provide smaller dollar exposure. A two-contract position moving 10 ticks changes by 20 total contract-ticks. The dollar result equals those contract-ticks multiplied by the product's tick value.
Risk and common mistakes
Smaller contracts can still be over-leveraged through excessive quantity.
- Confusing margin with maximum possible loss
- Using the wrong micro or E-mini multiplier
- Ignoring expiration, maintenance breaks, or economic events
- Sizing from desired profit instead of predefined risk
Use the related calculator
Model the contract values and risk with your own inputs before planning a simulated trade.
Open calculator →Frequently asked questions
What is the most important point about micro vs. e-mini futures?+
Micro E-mini equity index futures generally use one-tenth the multiplier of their corresponding E-mini contract. MES is $5 per S&P 500 point versus $50 for ES; MNQ is $2 per Nasdaq-100 point versus $20 for NQ.
Is this information personalized financial advice?+
No. ORIVECT Education provides general educational information. Contract selection, leverage, and risk decisions require your own judgment and current official documentation.
Where can I verify the current contract specification?+
Use the official exchange source linked from the relevant ORIVECT market reference page. Trading hours, margin, and holiday schedules can change.