Micro vs Mini Futures: Which to Trade on a Prop Firm Account
Ten micros equal one mini in dollars per point. Here is when micros are the better tool on a prop account, and when fees make minis better.
Micro futures are one tenth the size of their mini or full size contracts, with the same price, hours and chart. On most prop firm accounts, micros are the better choice while your loss room is small. They let you size to the dollar and take profits in pieces. Minis usually win on fees once you would trade ten or more micros at a time.
Key takeaways
- Ten micros equal one mini in dollars per point, so the choice is about precision and cost, not exposure.
- Micros fit tight daily loss limits and let you scale out of a winning trade.
- Fees per micro are a much larger share of the tick value, which hurts short scalps.
- Prop firms cap contract counts, and they do not all count micros the same way.
What is the difference between micro and mini futures?
Only the multiplier. A micro tracks the same index or commodity at the same price as the larger contract. Each point is simply worth one tenth as much. The two prices stay tied together because any gap would be bought in one and sold in the other within moments.
| Full size | Value per point or $1 | Micro | Value per point or $1 |
|---|---|---|---|
| ES | $50 | MES | $5 |
| NQ | $20 | MNQ | $2 |
| YM | $5 | MYM | $0.50 |
| RTY | $50 | M2K | $5 |
| CL | $1,000 | MCL | $100 |
| GC | $100 | MGC | $10 |
Price discovery mostly happens in the larger contract, where most of the dollar volume sits. The micro book is usually liquid enough for retail size. Still, a large micro order can move through several price levels faster than one mini would. Exact tick sizes for each are in our contract specs table.
When micros are the better choice on a prop account
When the stop is wide relative to your risk budget
Example figures: a $50,000 evaluation with a $1,000 daily loss limit. You plan to risk $200 per trade so that a bad day of losses still leaves room. Your setup on NQ needs a 30 point stop.
- One NQ loses 30 × $20 = $600 at the stop. That is three times your plan and 60% of the daily limit on one trade.
- One MNQ loses 30 × $2 = $60. $200 ÷ $60 = 3.33, so you trade 3 MNQ and risk $180.
The mini forces a bad choice: a stop too tight for the market, or a loss too big for the account. The micro removes that choice.
When you want to scale out
With one mini, you are all in or all out. With four micros, you can take two off at your first target. Then move the stop on the rest and hold them for a larger move. That makes trade management a real choice rather than a coin flip.
When the drawdown is trailing
On a trailing drawdown, the floor rises with your highest balance, including open profit on some accounts. Early on, the gap between balance and floor is small. Micros let you trade a meaningful size while keeping each loss a small slice of that gap. See trailing vs static drawdown for how the floor moves.
When minis make more sense
Once your normal size reaches ten micros, a single mini gives the same exposure. You get one fill, one commission and one order to manage. You lose the ability to scale out in small pieces, unless you trade two or more minis. You gain lower costs and simpler execution.
Minis can also be better in fast markets. One order for one contract tends to fill more cleanly than a ten lot sweep through a thinner book. In normal conditions the difference is small.
What micros really cost in fees
Every contract pays exchange, clearing, regulatory and broker or platform fees. Fees for a micro are lower in dollars than for a mini, but not ten times lower. So ten micros cost more than one mini for the same exposure.
Example figures only; real fees depend on your firm, platform and data route. Assume an all in round turn cost of $1.00 per MNQ and $4.00 per NQ.
- 10 MNQ round turn: 10 × $1.00 = $10. One NQ round turn: $4. Same $20 per point exposure.
- Over 200 round turns in a month: $2,000 on micros against $800 on minis, a $1,200 difference.
- Measured in ticks: $1.00 is 2 ticks of MNQ ($0.50 each). $4.00 is less than 1 tick of NQ ($5).
The tick view is the important one. If your average winning trade is only a few ticks, a cost of 2 ticks per round turn eats a large part of it. Scalpers feel this most. Swing and intraday traders with targets of dozens of ticks feel it much less.
Fee in ticks = round turn cost ÷ tick value
How this fits prop firm rules: scaling and contract limits
Futures prop firms set a maximum position size for each account. In general terms, you will see these patterns:
- A fixed cap per account size: for example a set number of minis, with micros allowed at a ratio such as ten for one.
- Separate caps: some firms set a micro limit that is not exactly ten times the mini limit.
- Scaling plans: the cap starts low on a funded account and rises as your profit buffer grows.
- Product limits: some firms restrict which contracts you may trade, or treat metals and energy differently.
Two practical rules follow. First, size from the daily loss limit, then check the contract cap, not the other way around. Second, if you hold minis and micros at the same time, confirm how the firm adds them up. Breaking a size rule by one contract can fail an account as surely as a loss.
Rules vary by firm; check each firm’s page on PropFirmXchange in the prop firm directory. To compare accounts by size, cap and price, use find an account.
Questions traders ask
Are 10 micros exactly the same as 1 mini?
In dollars per point, yes. In fees, fills and how a prop firm counts them, not always.
Should I switch to minis after passing an evaluation?
Only if your risk budget per trade covers a mini at your normal stop. On many new funded accounts, the drawdown room is small again, so micros often stay the right size for a while.
Do micros have worse fills?
Usually not at retail size in liquid hours. Fills can be worse for large micro orders, in thin overnight trading and during fast news moves.
Trading futures carries a high risk of loss, whatever contract size you use. Most prop firm accounts are simulated. Nothing here is financial advice.