Trade Equity Index Futures
Trade the S&P 500, Nasdaq 100, Dow Jones, and Russell 2000 with low commissions and intraday margins starting at $50.
What are Equity Index Futures?
An equity index futures contract tracks the price of a stock market index, such as the S&P 500 or Nasdaq 100.
Instead of owning shares, you’re trading a contract that reflects the index’s price movements.
These contracts trade nearly 24 hours a day, giving traders the ability to react to economic data, earnings, and global events outside regular stock market hours.
Why Trade Equity Index Futures?
Go long or short easily
You can trade in either direction based on your view of the market.
Trade the broad market in one contract
Rather than picking individual stocks, equity index futures give you exposure to the overall direction of the market.
React before the stock market opens
Equity index futures trade nearly around the clock. Earnings, economic reports, and geopolitical events all move index futures before the 9:30 AM ET stock market open.
Futures trading involves substantial risk and is not suitable for all investors. Leverage can work against you as well as for you.
Trade Popular Equity Index Futures
ES
E-mini S&P 500 Futures
Tracks the S&P 500 Index, representing 500 of the largest publicly traded U.S. companies.
NQ
E-mini Nasdaq-100 Futures
Tracks the Nasdaq-100 Index, heavily weighted toward the technology sector and known for strong intraday volatility.
YM
E-mini Dow Jones Futures
Tracks the Dow Jones Industrial Average, measuring the price performance of 30 large, established U.S. companies.
RTY
E-mini Russell 2000 Futures
Tracks the Russell 2000 Index, a widely followed benchmark for U.S. small-cap stock performance.
View all available contracts
| Code | Product Name | Multiplier | Min. Tick Size | Market Hours (EST) |
|---|---|---|---|---|
| /ES | E-mini S&P 500 Index Futures | $50 x Index | 0.25 index points = $12.50 | Sun 6 PM – Fri 5 PM |
| /MES | Micro E-mini S&P 500 Index Futures | $5 x Index | 0.25 index points = $1.25 | Sun 6 PM – Fri 5 PM |
| /EMD | E-mini S&P MidCap 400 Index Futures | $100 x Index | 0.10 index points = $10.00 | Sun 6 PM – Fri 5 PM |
| /MMC | Micro E-mini S&P MidCap 400 Index Futures | $10 x Index | 0.10 index points = $1.00 | Sun 6 PM – Fri 5 PM |
| /NQ | E-mini Nasdaq-100 Index Futures | $20 x Index | 0.25 index points = $5.00 | Sun 6 PM – Fri 5 PM |
| /MNQ | Micro E-mini Nasdaq-100 Index Futures | $2 x Index | 0.25 index points = $0.50 | Sun 6 PM – Fri 5 PM |
| /RTY | E-mini Russell 2000 Index Futures | $50 x Index | 0.10 index points = $5.00 | Sun 6 PM – Fri 5 PM |
| /M2K | Micro E-mini Russell 2000 Index Futures | $5 x Index | 0.10 index points = $0.50 | Sun 6 PM – Fri 5 PM |
| /RS1 | E-mini Russell 1000 Index Futures | $50 x Index | 0.10 index points = $5.00 | Sun 6 PM – Fri 5 PM |
| /YM | E-mini Dow Jones Industrial Average Index Futures | $5 x Index | 1.00 index point = $5.00 | Sun 6 PM – Fri 5 PM |
| /MYM | Micro E-mini Dow Jones Industrial Average Index Futures | $0.50 x Index | 1.00 index point = $0.50 | Sun 6 PM – Fri 5 PM |
| /RX | Dow Jones U.S. Real Estate Index Futures | $100 x Index | 0.10 index points = $10.00 | Sun 6 PM – Fri 5 PM |
| /N1 | Nikkei 225 (JPY) Futures | ¥500 x Index | 5.00 index points = ¥2,500 | Sun 6 PM – Fri 5 PM |
| /MNI | Micro Nikkei 225 (JPY) Futures | ¥50 x Index | 5.00 index points = ¥250 | Sun 6 PM – Fri 5 PM |
| /NKD | Nikkei 225 (USD) Futures | $5 x Index | 5.00 index points = $25.00 | Sun 6 PM – Fri 5 PM |
| /TPY | TOPIX (JPY) Futures | ¥5,000 x Index | 0.50 index points = ¥2,500 | Sun 6 PM – Fri 5 PM |
| /XAU | E-mini Utilities Select Sector Futures | $100 x Index | 0.10 index points = $10.00 | Sun 6 PM – Fri 5 PM |
| /XAV | E-mini Health Care Select Sector Futures | $100 x Index | 0.10 index points = $10.00 | Sun 6 PM – Fri 5 PM |
| /XAP | E-mini Consumer Staples Select Sector Futures | $100 x Index | 0.10 index points = $10.00 | Sun 6 PM – Fri 5 PM |
Start Trading Equity Index Futures
Trade Micro Equity Index Futures with Lower Costs
At 1/10th the size of the standard E-mini contract, Micro E-mini futures give you access to the same equity index markets with smaller position sizes, lower margin requirements, and more flexibility in how you manage trades.
- Same indexes as the E-mini — S&P 500, Nasdaq-100, Dow Jones, and Russell 2000
- Intraday margins starting at approximately $50
- Proportionally smaller tick values for more precise position sizing
MES
Micro S&P 500
MNQ
Micro Nasdaq
MYM
Micro Dow Jones
M2K
Micro Russell 2000
Start Trading Futures with a Low-Cost Broker
Open a MetroTrade account and access CME futures markets with low commissions, competitive margins, and a platform built for active traders.
Frequently Asked Questions
What are equity index futures?
Equity index futures are standardized contracts that track the price of a stock market index, such as the S&P 500 or Nasdaq-100. They allow traders to take positions on the overall direction of the market without buying individual stocks.
How do equity index futures differ from trading stocks or ETFs?
With stocks or ETFs, you own shares of a company or fund. With equity index futures, you’re trading a contract tied to the price of an index. Futures are leveraged, trade nearly 24 hours a day, and don’t require ownership of the underlying assets.
What moves the price of equity index futures?
Equity index futures are influenced by a range of factors including U.S. economic data releases, Federal Reserve policy decisions, corporate earnings reports, and broader market sentiment. Geopolitical events and overnight developments in global markets can also cause significant price moves.
When do equity index futures trade?
Most CME equity index futures trade Sunday through Friday, from 6:00 PM ET to 5:00 PM ET the following day, with a one-hour daily break. The highest volume typically occurs around the U.S. stock market open at 9:30 AM ET.
What is the difference between E-mini and Micro E-mini contracts?
Both track the same underlying index. Micro E-mini contracts are one-tenth the size of E-mini contracts, with proportionally smaller multipliers, tick values, and margin requirements. Ten Micro contracts equal one E-mini in total market exposure.
Are equity index futures cash-settled?
Yes. Equity index futures are cash-settled at expiration, meaning no stocks change hands. The difference between your entry and exit price is settled in cash. Most retail traders close positions before expiration rather than holding to settlement.
Do I need a large account to trade equity index futures?
Not necessarily. Micro E-mini contracts have intraday margin requirements starting at approximately $50 at MetroTrade, making them accessible to a range of account sizes. That said, it is important to maintain a sufficient buffer above the margin requirement to manage normal market fluctuations.