Futures contract limits and micros explained for prop traders

Futures prop firms cap how many contracts you can hold at once. They also let you trade micro contracts, which are one-tenth the size of standard E-mini contracts. Understanding both is key to sizing trades correctly. This guide explains the maths and the rules at the futures firms we track.

Minis and micros: the basics

CME's E-mini equity index futures each have a Micro version. According to CME Group, each Micro is one-tenth the size of its E-mini.

• S&P 500: ES is $50 per index point and MES is $5. One tick (0.25 points) is $12.50 on ES and $1.25 on MES.
• Nasdaq-100: NQ is $20 per point and MNQ is $2. One tick (0.25 points) is $5.00 on NQ and $0.50 on MNQ.
• Dow: YM is $5 per point and MYM is $0.50.
• Russell 2000: RTY is $50 per point and M2K is $5.

So a 10-point move in the S&P 500 is worth $500 on one ES contract and $50 on one MES contract.

How contract limits work

Each account has a maximum position size, usually counted in mini contracts. The help pages of all four futures firms we track count micros at a 10:1 ratio. Ten micros use the same allowance as one mini.

Limits apply to open positions, and some firms also count working orders. Tradeify's contract limits article says it checks open positions plus working orders on each side of the market. Orders that would exceed the limit are rejected. Bracket stop and target orders do not count.

Limits at the firms we track

From official help pages, checked 3 November 2026.

Topstep

Topstep's Trading Combine parameters set these maximum position sizes:

• 50K: 5 contracts or 50 micros.
• 100K: 10 contracts or 100 micros.
• 150K: 15 contracts or 150 micros.

On Express Funded Accounts, Topstep's Scaling Plan sets your limit by account balance, starting from a $0 balance. Its example shows a $50K account on a 2-lot plan: 2 minis, 20 micros or any mix equal to 2 minis. Limits do not rise mid-session. Extra buying power applies from the next session. Topstep ignores errors fixed within 10 seconds, but holding too many contracts for longer may trigger a review.

Tradeify

Tradeify's rules overview lists 1 mini (10 micros) on 25K, 4 minis (40 micros) on 50K, 8 minis (80 micros) on 100K and 12 minis (120 micros) on 150K. Its contract limits article uses different example figures, so confirm the limit for your program in your dashboard.

My Funded Futures

My Funded Futures' Rapid 50K article allows up to 5 minis or 50 micros in total, in both the evaluation and sim funded stages. It warns that exceeding the limit can breach the account.

Take Profit Trader

Take Profit Trader's position size rule allows 3 contracts on 25K, 6 on 50K, 9 on 75K, 12 on 100K and 15 on 150K. Micros get a 10x allowance, so a 50K account can hold up to 60 micros.

Why the cap is rarely the real limit

Trading the maximum contract count is usually a mistake, not a strategy. Your drawdown is the real constraint. Here is an illustrative example using a $2,000 maximum loss, the figure our database lists for Topstep's 50K Combine.

• 5 ES contracts move $250 per index point (5 × $50).
• A $2,000 maximum loss is used up by an 8-point move against you ($2,000 ÷ $250).
• The S&P 500 can move 8 points in minutes.

Trading the maximum leaves almost no room. That is why sound sizing starts from risk, not from the contract cap.

Sizing with micros: worked examples

These examples are illustrative. Assume you plan to risk $200 per trade, which is 10% of a $2,000 drawdown.

S&P 500 with a 10-point stop

• One ES contract risks 10 × $50 = $500. That is above your $200 budget, so even one mini is too big.
• One MES contract risks 10 × $5 = $50.
• $200 ÷ $50 = 4 MES contracts.

Nasdaq-100 with a 20-point stop

• One NQ contract risks 20 × $20 = $400. Again, too big.
• One MNQ contract risks 20 × $2 = $40.
• $200 ÷ $40 = 5 MNQ contracts.

Adjusting in finer steps

Micros let you change size in $5-per-point steps on the S&P 500, instead of $50 jumps. That makes it easier to cut risk after losses. It also lets you add size gradually as your buffer above a trailing drawdown grows.

Our position size calculator runs these numbers for you.

The cost trade-off

Commissions are charged per contract. Ten MES contracts give the same exposure as one ES, but you pay fees on ten contracts. Check your firm's per-contract costs, because they add up quickly for active traders.

Common mistakes

• Assuming the evaluation limit carries over, when a funded scaling plan may set a lower one.
• Forgetting that working orders can count toward the limit.
• Adding to a losing position until you hit the maximum.
• Mixing minis and micros without converting to mini-equivalents.
• Trading several products, such as ES and NQ, without checking whether limits apply per symbol or per account.

Key takeaways

• Micros are one-tenth the size of E-minis.
• The futures firms we track count micros at 10:1 against contract limits.
• Your drawdown, not the contract cap, should set your size.
• Check funded-stage limits, which may differ from the evaluation.

Learn how drawdowns move in our trailing vs static drawdown guide, and compare futures programs on our rules hub.

Contract limits change and vary by program. Confirm current limits on each firm's official site before you trade. This guide is educational and not financial advice. Trading involves risk.