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MNQ contract

MNQ (Micro E-mini Nasdaq-100)

Trading

Definition

The micro version of NQ: the same Nasdaq-100 index at one-tenth the size. Each point is worth $2 and the tick (0.25 point) is worth $0.50. It is popular among evaluation traders who want the volatility of NQ without the risk of a mini contract.

Detailed explanation

MNQ allows you to trade NQ with real technical drawdowns without burning through the threshold: a 25-point drawdown is $50 per contract. On the other hand, the same volatility that makes it attractive also causes accounts to fail when increasing volume without calculation. Pay attention to hedging: a long on MNQ in one account and a short on NQ in another are considered hedging on the same underlying asset, and this is prohibited by almost all firms.

An example from the prop world

A trader with a $50,000 account and a $2,000 drawdown sets a 20-point stop and risks $200 per trade: 5 MNQ contracts. The exact same risk cannot be built with an NQ contract, where 20 points are $400 for one contract.

How it works at the firms on this site

Based on the rules listed on our firm pages. Rules get updated, so check the firm's page before buying.

My Funded Futures (MFFU)

Hedging of any kind on the same underlying asset is prohibited, therefore MNQ and NQ in opposite directions are also prohibited, even between accounts.

Topstep

Cross-hedging between accounts on correlated instruments, such as MNQ and NQ, is prohibited. After signing the policy, any additional hedging is immediately liquidated.

Tools and pages related to this term

Risk calculator

How many contracts to open against your stop and the account's loss limit

NQ contract

The Nasdaq-100 mini futures contract. Each point is worth $20, and the tick is 0.25 points, meaning $5 per contract. It is more volatile than ES, and therefore popular with scalpers and risky for small accounts.

MES contract

The micro version of ES: the same S&P 500 index at a tenth of the size. Each point is worth $5 and the tick (0.25 point) is worth $1.25, so you can build a precise position even with a small account.

Position size

The decision of how many contracts to open in a trade. It's calculated from the end to the beginning: how much you are allowed to lose per trade, divided by the loss of one contract up to the drawdown. In a prop account, this is the most important decision, because it determines how many mistakes the account can absorb before the threshold.

Hedging

Opening opposite positions, long and short, on the same underlying asset or on correlated assets at the same time, in the same account or across accounts. At most prop firms this is prohibited.

Contract limit

The maximum number of contracts you may hold at once. It's usually written as mini/micro, where one mini contract equals 10 micro contracts.

News trading policy

This is a risk management rule in funded trading accounts that prohibits traders from opening, closing or modifying active positions within a set time window (usually a few minutes) before, during and after the release of major high-impact economic events (Tier One).