Every CME index future, side by side
| Contract | Tick size | Tick value | Point value | Ticks per point |
|---|---|---|---|---|
| NQ E-mini Nasdaq-100 | 0.25 | $5.00 | $20 | 4 |
| MNQ Micro E-mini Nasdaq-100 | 0.25 | $0.50 | $2 | 4 |
| ES E-mini S&P 500 | 0.25 | $12.50 | $50 | 4 |
| MES Micro E-mini S&P 500 | 0.25 | $1.25 | $5 | 4 |
| YM E-mini Dow | 1.00 | $5.00 | $5 | 1 |
| MYM Micro E-mini Dow | 1.00 | $0.50 | $0.50 | 1 |
| RTY E-mini Russell 2000 | 0.10 | $5.00 | $50 | 10 |
| M2K Micro E-mini Russell 2000 | 0.10 | $0.50 | $5 | 10 |
CME Group published contract specifications, checked 2026-08-30. Confirm at the exchange before sizing real money; contract terms can change.
What a tick actually is
A tick is the smallest amount a price is allowed to move. On NQ that is 0.25 of an index point, so a full point is 4 ticks and $20. Prices never move by a third of a tick, which is why every stop and target you set lands on a multiple of 0.25.
The micro is the same contract at one tenth the size. It exists so a smaller account can take the same trade: 10 MNQ equal one NQ exactly, and an MNQ risks $2 a point instead of $20. That is a difference in size, not in strategy.
Fees are the catch. Commission is charged per contract, so ten micros pay about ten times what one mini pays for the same exposure. On a wide move that is noise; on a small one it is the trade. NQ vs MNQ works that through with real numbers, and NQ vs ES covers why the same dollar risk needs a different stop on each.
If you are sizing against a funded account rather than your own, the number that binds is the trailing drawdown, not the point value. The prop-firm drawdown calculator does that arithmetic.