The margin for a Micro futures contract is a few hundred to a few thousand dollars, so on paper a small account is enough to open a position. That number answers a different question, though: not “can I open a trade?” but “how much can I lose before the broker closes me out?”. Starting capital is the margin plus a buffer that absorbs losses. This guide shows how to work out both from the numbers on this site.
Margin is the entry ticket, not the account size
Margin is a deposit the broker holds against a position. It does not limit your loss. A micro contract can lose more than its margin in a fast market, and if the account falls below the maintenance level the broker asks for more money or closes positions (see the margin guide). An account that holds exactly the margin for one contract has no room for a normal day’s move.
The table below shows the approximate opening margin: the CME maintenance margin for the active month × 1.10. Accounts that the clearing firm classifies as “heightened risk profile” – usually including retail speculative accounts – must post the initial margin, typically 110% of maintenance, to open a position. Many brokers also set their own, higher figures, and some offer lower day-trading margins during the session. Ask your broker which numbers apply to your account.
What one micro contract costs and risks
| Micro | Opening margin (about) | Per point | Tick value | Move for a $100 loss |
|---|---|---|---|---|
| MES Micro E-mini S&P 500 | $2,873 | $5.00 | $1.25 | 20 index points |
| MNQ Micro E-mini Nasdaq-100 | $4,739 | $2.00 | $0.50 | 50 index points |
| MYM Micro E-mini Dow | $1,681 | $0.50 | $0.50 | 200 index points |
| M2K Micro E-mini Russell 2000 | $1,202 | $5.00 | $0.50 | 20 index points |
| MCL Micro WTI Crude Oil | $854 | $100.00 | $1.00 | 1 dollar per barrel |
| MGC Micro Gold | $2,294 | $10.00 | $1.00 | 10 dollars per ounce |
| M6E Micro EUR/USD | $231 | $1.25 | $1.25 | 80 pips |
Opening margin = highest published CME maintenance margin of the active month (long or short) × 1.10, as of Sep 30, 2026. “Per point” is the value of one point as defined on the contract page (an index point, one dollar per barrel or ounce, one pip of 0.0001 for euro FX). These are exchange figures, not your broker’s requirement.
The buffer: size the account from the loss you accept
Most traders start from the loss they can accept on one trade, usually 1 to 2 percent of the account, and work backwards. The calculation has three steps.
- Choose the stop distance in points, from the chart and the market’s normal range, not from what the account can afford.
- Multiply by the point value to get the loss per contract if the stop is hit.
- Divide by your risk percentage. The result is the account size at which one contract fits your rule; the margin must fit on top of it.
Example with MES. A stop 10 points away costs 10 × $5.00 = $50.00 per contract plus costs and slippage. Two conditions have to hold at the same time. If that loss may be at most 1 percent of the account, the account must be at least $5,000. And if you do not want to tie up more than a third of the account as margin – a personal rule of thumb, not an official one – the account must be at least 3 × $2,873 ≈ $8,620. The larger number decides: about $8,620 for one MES contract with a 10-point stop. At that size the stop risks 0.6% of the account. On a smaller account the same trade either risks more than 1 percent or uses most of the account as margin. Two contracts double both numbers.
The same arithmetic with MNQ needs a larger account: its margin is higher, so the one-third rule alone requires about $14,216. A point is worth less than in MES, but the Nasdaq-100 moves more points per day, so stops in points are usually wider. Run the numbers with the stop distance your method uses; the table above gives the point values.
What small accounts get wrong
- Using all the margin. If the margin for the planned position is most of the account, a normal swing triggers a margin call. A common rule of thumb is to use about a third of the account as margin, and at most half; there is no official number, so decide it before you trade.
- Ignoring costs. Commission, exchange and clearing fees are charged per contract and per side. On a small stop they are a visible share of the risk.
- Sizing from the account, not the stop. “I can afford 5 contracts” is a margin statement. How many contracts you may trade follows from the stop distance and your loss limit.
- Forgetting the overnight and event risk. Day-trading margins usually end at the broker’s cut-off time; held overnight, the broker’s overnight margin applies – at least the exchange margin, often more. Prices can also jump past a stop around reports (see trading around reports).
- Ignoring the calendar. Micro Gold (MGC) can be delivered via certificates, so it has a first notice day (see the first notice day guide). Micro EUR/USD (M6E) is physically delivered but has no first notice day; the last trading day and your broker’s deadline decide when to roll (see what happens at expiration).
Which micro suits a small account?
Among the index micros, Micro E-mini Russell 2000 (M2K) and Micro E-mini Dow (MYM) need the least margin, Micro E-mini S&P 500 (MES) sits in between and Micro E-mini Nasdaq-100 (MNQ) needs the most. Point values cannot be compared across indices: one Dow point is a much smaller move than one Russell 2000 point. Micro WTI Crude Oil (MCL) is cheap to hold but its margin has changed sharply in the past when oil became volatile. Since January 2026 CME has set precious-metal margins as a percentage of the contract value, so the Micro Gold (MGC) margin rises and falls with the gold price. A demo account or a few days of one-contract trading shows how large the daily range is in dollars before real money is at stake. See also Micro vs. E-mini.
This guide explains the arithmetic and does not recommend a position size or a market. Futures trading carries a high risk of loss.
Educational content only – not investment advice. Futures trading involves substantial risk of loss.