Futures Contract Specifications — Tick Value, Point Value & Contract Size
Complete spec table for every major futures contract used in prop firm trading. Tick size, tick value, point value, margin, trading hours, and exchange — everything you need to size positions correctly.
| Symbol | Full Name | Exchange | Tick Size | Tick Value | Point Value | Multiplier | RTH Session (ET) | ETH Session |
|---|---|---|---|---|---|---|---|---|
| ES | E-mini S&P 500 | CME | 0.25 pts | $12.50 | $50 | $50 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| MES | Micro E-mini S&P 500 | CME | 0.25 pts | $1.25 | $5 | $5 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| NQ | E-mini Nasdaq-100 | CME | 0.25 pts | $5.00 | $20 | $20 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| MNQ | Micro E-mini Nasdaq-100 | CME | 0.25 pts | $0.50 | $2 | $2 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| RTY | E-mini Russell 2000 | CME | 0.10 pts | $5.00 | $50 | $50 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| M2K | Micro E-mini Russell 2000 | CME | 0.10 pts | $0.50 | $5 | $5 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| YM | E-mini Dow Jones | CBOT | 1 pt | $5.00 | $5 | $5 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| MYM | Micro E-mini Dow Jones | CBOT | 1 pt | $0.50 | $0.50 | $0.50 × price | 9:30–16:15 | Sun 6pm–Fri 5pm |
| GC | Gold Futures | COMEX | $0.10/oz | $10.00 | $100/pt | 100 troy oz | 8:20–13:30 | Sun 6pm–Fri 5pm |
| MGC | Micro Gold Futures | COMEX | $0.10/oz | $1.00 | $10/pt | 10 troy oz | 8:20–13:30 | Sun 6pm–Fri 5pm |
| SI | Silver Futures | COMEX | $0.005/oz | $25.00 | $5,000/pt | 5,000 oz | 8:25–13:25 | Sun 6pm–Fri 5pm |
| CL | Crude Oil Futures | NYMEX | $0.01/bbl | $10.00 | $1,000/pt | 1,000 bbl | 9:00–14:30 | Sun 6pm–Fri 5pm |
| MCL | Micro Crude Oil Futures | NYMEX | $0.01/bbl | $1.00 | $100/pt | 100 bbl | 9:00–14:30 | Sun 6pm–Fri 5pm |
| ZB | 30-Year T-Bond | CBOT | 1/32 pt | $31.25 | $1,000/pt | $1,000 × price | 7:20–14:00 | Sun 6pm–Fri 5pm |
Frequently Asked Questions
What is the MES tick value?
One tick on the MES (Micro E-mini S&P 500) equals $1.25. The tick size is 0.25 index points. If ES moves from 5000 to 5001 (4 ticks), a single MES contract gains $5.00. The MES is exactly 1/10th the size of the full ES contract, making it ideal for smaller prop firm evaluation accounts.
What is the NQ point value?
One full point on NQ is worth $20 per contract. One tick (0.25 pts) = $5. If NQ moves 100 points, that's $2,000 per contract. For the Micro version (MNQ), one full point = $2, and one tick = $0.50. Most prop firms targeting NQ require you to know these values precisely to avoid oversizing positions.
What is the difference between ES and MES?
MES is 1/10th the size of ES. Both track the same underlying (S&P 500 index) with the same tick size (0.25 pts), but the tick value differs significantly: $1.25 (MES) vs $12.50 (ES). MES is ideal for prop firm evaluations under $100k — a 10-point move earns $50 on MES vs $500 on ES. ES suits 100k+ accounts where larger position sizing is appropriate and the drawdown limits are proportionally higher.
What is the GC (Gold) tick value?
Gold futures (GC) move in $0.10/oz increments on a 100 oz contract, so each tick is worth $10.00. One full dollar move in gold = $100 per GC contract. The Micro Gold (MGC) uses a 10 oz contract, so each tick is $1.00 and a $1 move = $10. Gold is popular among prop firm traders looking for volatility outside equity index futures during news events.
What futures contracts are best for prop firm evaluations?
It depends on account size:
- Micro accounts (25k–50k): MES and MNQ are the standard choices. Low tick values allow fine-grained risk management within tight daily loss limits.
- Standard accounts (100k–150k): ES and NQ. Larger tick values mean more P&L per move, which lets you hit profit targets faster — but also breach daily limits faster if the trade goes wrong.
- Commodities: GC, MGC, CL, and MCL suit traders with specific commodity setups. Be aware that CL can have wide spreads during off-hours.
Most prop firms allow all CME/COMEX/NYMEX contracts — but always check the specific firm's allowed instrument list and any restricted news window rules before trading.
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