NQ vs MNQ: Point Value, Tick Value, Which to Trade
NQ vs MNQ side by side: $20 vs $2 a point, $5 vs $0.50 a tick, same chart and hours. What a stop costs on each, and which one fits a small or prop firm account.
NQ (E-mini Nasdaq-100) and MNQ (Micro E-mini Nasdaq-100) follow the same index on the same chart, trade the same hours and move in the same ticks. The only real difference is size: MNQ is one tenth of NQ.
NQ and MNQ side by side
| NQ | MNQ | |
|---|---|---|
| Point value | $20 | $2 |
| Tick size | 0.25 points | 0.25 points |
| Tick value | $5.00 | $0.50 |
| A 10 point move | $200 | $20 |
| A 20 point stop | $400 | $40 |
| A 100 point move | $2,000 | $200 |
| Same size | 1 contract | 10 contracts |
Both trade on CME Globex from Sunday evening to Friday afternoon, New York time, with a short break every day. The busiest hours for both are around the New York open at 9:30.
Why the size difference matters
At $20 a point, a 20 point stop is $400 on one NQ. On a $50,000 prop firm account with a $2,000 max loss, that is a fifth of your room on a single trade, and your only way to risk less is to trade nothing at all.
With MNQ the same stop is $40 per contract, so you can risk $200, $240 or $280 in steps of $40 instead of jumps of $400. That control matters most when the room left is small, which is exactly when traders get into trouble. See futures position sizing for the full method.
Fees
Commission is charged per contract, so ten MNQ usually cost more in fees than one NQ of the same size. On small, frequent trades that difference adds up. Compare your broker's or firm's rates per side for both before deciding.
Which one should you trade?
- Learning or a small account: MNQ. You can risk a sensible amount per trade and add size in small steps.
- Prop firm evaluations: usually MNQ until the trailing drawdown stops, then more size if your results justify it. Position limits are often written as minis or ten times as many micros, for example 5 NQ or 50 MNQ.
- Larger, steady size: NQ, for lower fees per point once you regularly trade ten micros or more.
The same comparison for other markets
Every major index future has a micro at one tenth of the size: MES for ES, MYM for YM and M2K for RTY. Crude oil and gold have MCL and MGC. The micro futures tick value table lists them all.
Practice both on one chart
In ChartTrainer, NQ and MNQ share the same chart, and the order ticket sizes your trade from your dollar risk for whichever contract you pick. You can replay real market days on NQ with the date hidden and try both sizes on the same session. The futures simulator has the details, and the position size calculator does the math without signing up.
Questions
- How much is one point on MNQ?
- $2. MNQ moves in 0.25 point ticks, and each tick is worth $0.50.
- How much is one point on NQ?
- $20. NQ moves in 0.25 point ticks, and each tick is worth $5.
- How many MNQ contracts equal one NQ?
- Ten. Ten MNQ contracts gain or lose the same dollars per point as one NQ contract.
- Do NQ and MNQ have the same chart?
- Yes. Both follow the Nasdaq-100 futures price, so the charts are practically identical. Volume and the depth of the order book are different.
- Is MNQ good for beginners?
- It is the usual place to start: the same market as NQ at one tenth of the risk per point, so mistakes cost less while you learn.