Contract specs · read from CME Nov 4, 2026

Futures contract specs for prop traders

The four index futures most prop traders trade, side by side: what a tick and a point are worth, when they expire, and how firms count them.

The short version

  • All four trade 0.25-point ticks. What changes is the dollars per tick: MNQ $0.50, NQ $5, MES $1.25, ES $12.50.
  • Micros are one tenth of the mini on the same index: 10 MNQ = 1 NQ, 10 MES = 1 ES.
  • All four expire at 9:30 a.m. ET on the 3rd Friday of March, June, September and December. The next is Friday, Dec 18, 2026.

Specs are quoted from CME Group's contract specs pages. Dollar figures are our arithmetic from CME's tick values.

Tick and point values

CodeContractTickPoint
MNQMicro E-mini Nasdaq-100$0.50$2
NQE-mini Nasdaq-100$5$20
MESMicro E-mini S&P 500$1.25$5
ESE-mini S&P 500$12.50$50

Tick = 0.25 index points. Point = 4 ticks. Per contract, before commissions.

How much room your loss limit gives you

How far can price go against you?

Type your loss limit (or the room you have left) and how many contracts you trade.

Arithmetic from CME's tick values. Commissions and slippage use up room too, and your firm's dashboard is the final word on your limit.

How prop firms count micros and minis

Firm and accountMinisMicros
Topstep 50K Trading Combine550
Lucid LucidFlex 50K440
MFFU Rapid 50K550
TradeDay 50K550
Tradeify 50K funded2 to 420 to 40

Topstep counts 10 micros as 1 mini in the Combine and Express Funded Account, but not in the Live account. TradeDay's 100K and 150K accounts allow 10 and 15 minis, but micros stay capped at 50. Tradeify's funded limit starts at 2 minis / 20 micros and reaches 4 / 40 at $2,000 of end-of-day profit. Limits are from each firm's help center, as shown on our rules pages. Other sizes are on each firm's rules page.

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