NQ vs MNQ: Which Futures Contract Should You Trade?
The Nasdaq-100 futures come in two sizes: the standard E-mini (NQ) and the Micro E-mini (MNQ). Both track the same index, but the differences in contract size, margin, and tick value make each suited to different trading styles and account sizes.
Contract specifications
| Specification | NQ (E-mini) | MNQ (Micro E-mini) |
|---|---|---|
| Multiplier | $20 per point | $2 per point |
| Tick size | 0.25 points ($5.00) | 0.25 points ($0.50) |
| Day trade margin | ~$1,800–$2,500 | ~$180–$250 |
| Overnight margin | ~$18,000–$21,000 | ~$1,800–$2,100 |
| Average daily range | 200–400+ pts ($4,000–$8,000) | 200–400+ pts ($400–$800) |
| Liquidity | Extremely high | Very high |
| Exchange | CME Globex | CME Globex |
When to trade MNQ
Accounts under $25,000. MNQ lets you trade Nasdaq futures with proper position sizing even on a $5,000 account. A 30-point stop on 3 MNQ = $180 risk — manageable for a small account.
Prop firm evaluations. MNQ gives you 10× the granularity for position sizing. Instead of choosing between 1 and 2 NQ contracts, you can trade 12 or 15 MNQ — much more precise risk control. See our funded trader guide.
Learning and developing strategies. The reduced dollar risk per contract means you can practice pattern recognition with real market dynamics without catastrophic losses from timing errors.
When to trade NQ
Accounts above $50,000. At larger sizes, NQ is more capital-efficient. Trading 1 NQ is simpler than managing 10 MNQ — fewer fills to manage, tighter spreads in fast markets, and lower commission costs per unit of exposure.
Scalping. NQ's $5 tick value makes scalping economically viable. A 4-tick scalp on 2 NQ = $40. The same scalp on 20 MNQ = $40 but with 20 separate fills, which can create slippage.
Can you mix them?
Yes, and many professional NQ traders do. A common approach: take a core position with NQ for the full move, and use MNQ to fine-tune your entry (scaling in) or exit (scaling out). Example: enter 1 NQ + 5 MNQ at support, take profit on the 5 MNQ at R1, and hold the NQ for the R2 extension.
The NQ815 daily pulse levels and playbook work identically for both contracts — the prices are the same, only the dollar risk per point changes.
Trade NQ or MNQ with funded capital. DayTraders lets you pass an evaluation and trade with their money — no $15K+ personal account needed.
Get Funded — DayTraders →Further reading
NQ815 is for informational and educational purposes only. Nothing on this site constitutes financial advice. Futures trading involves substantial risk of loss and is not suitable for all investors.