What one MNQ contract is worth
The Micro E-mini Nasdaq-100 trades on CME in increments of 0.25. Because its point multiplier is $2.00, one tick is worth $0.50 and a full point is worth $2.00 — per contract, in both directions. Multiply by your contract count for the position.
The number that catches people out is notional value: price × $2.00, 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.
MNQ vs NQ
MNQ is the micro version of NQ (E-mini Nasdaq-100), at one tenth the size — $2.00 per point against $20.00. Same index, same hours, same tick size; 10× less money per tick.
What an MNQ round turn costs
CME charges $0.35 exchange and $0.19 clearing per side, plus $0.02 NFA — so $1.12 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 MNQ that's 2.2 ticks of cost on every trade.
Who trades MNQ and when
Same quarterly cycle as NQ, and the single most actively traded micro index product among retail futures traders — the underlying's higher volatility gives a small account more setups per session than the S&P micro does, for a similar dollar-per-tick risk.
Sizing an MNQ position
Contract value is only half the question. How many MNQ 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.