What one MGC contract is worth
The Micro Gold trades on COMEX in increments of 0.1. Because its point multiplier is $10.00, one tick is worth $1.00 and a full point is worth $10.00 — per contract, in both directions. Multiply by your contract count for the position.
The number that catches people out is notional value: price × $10.00, which is the exposure one contract actually carries, not the margin you posted to open it. Change the price above to see it for the level you're trading.
MGC vs GC
MGC is the micro version of GC (Gold), at one tenth the size — $10.00 per point against $100.00. Same index, same hours, same tick size; 10× less money per tick.
What an MGC round turn costs
COMEX charges $0.60 exchange and $0.19 clearing per side, plus $0.02 NFA — so $1.62 per round turn, per contract, before your broker's commission. These rates are the same at every broker, because the venue charges them, not the broker — and most brokers' fee column doesn't include them. On MGC that's 1.6 ticks of cost on every trade.
Who trades MGC and when
Shares GC's contract-month calendar. The smaller size makes position sizing around a volatile Fed or CPI session easier to manage precisely than a full GC contract, where one tick already carries meaningfully more risk.
Sizing an MGC position
Contract value is only half the question. How many MGC contracts you should trade depends on your account size and stop distance — the position size calculator works that out, and the expectancy calculator tells you whether the resulting trades pay over time.