E-mini (or mini) contracts are the larger version of futures contracts for an underlying asset. For example, trading the E-mini futures on the S&P 500 index uses ticker ES, with a tick size of 0.25 and a tick value of $12.50. This means a 1-point move in ES equals $50 per contract.
Micro contracts, on the other hand, are typically 1/10th the size of E-minis. For the S&P 500, this would mean trading the MES ticker, which also has a tick size of 0.25 but with a tick value of $1.25, making a 1-point move worth $5 per contract.
In live trading, micro contracts tend to have higher per-contract commissions than E-minis. For example, trading 10 micro contracts would generally cost more in fees than trading 1 mini contract. However, micro contracts allow greater flexibility in scaling trades in or out due to the ability to adjust positions in smaller increments.
At PropShopTrader, traders are allowed to trade both E-mini and micro contracts. You can trade equivalent sizes across these types, for instance, 10 E-mini contracts or 100 micros if that matches your program’s limits. We support both options so that traders can work with instruments they’re familiar with and don’t have to sacrifice comfort or familiarity when managing their accounts.