MNQ Tick Value — $0.50 Per Tick (0.25 Nasdaq-100 Points × $2 Multiplier)
The short answer: The MNQ (Micro E-mini Nasdaq-100) tick value is $0.50.
One minimum price move = 0.25 Nasdaq-100 index points × $2 contract multiplier = $0.50. The full-size NQ has the same 0.25-point tick size but a $20 multiplier, making each NQ tick worth $5.00 — exactly 10 times the MNQ.
How MNQ tick value is calculated
Every futures contract has two spec values that determine tick value:
- Tick size: the minimum price increment, in units of the underlying. For MNQ, this is 0.25 Nasdaq-100 index points.
- Contract multiplier: the dollar value per point of the underlying. For MNQ, this is $2 per Nasdaq-100 point.
Tick value = tick size × multiplier = 0.25 × $2 = $0.50
This spec is exchange-defined, set at MNQ's launch in May 2019, and has not changed since. It is consistent with the CME's 1:10 design: the full-size NQ uses a $20 multiplier and has a tick value of $5.00 (0.25 × $20). MNQ at $0.50 is exactly one-tenth of NQ at $5.00.
MNQ vs NQ: tick value comparison
| Contract | Name | Multiplier | Tick size | Tick value | 1-point move |
|---|---|---|---|---|---|
| MNQ | Micro E-mini Nasdaq-100 | $2/pt | 0.25 pts | $0.50 | $2.00 |
| NQ | E-mini Nasdaq-100 | $20/pt | 0.25 pts | $5.00 | $20.00 |
A 1-point move in the Nasdaq-100 is worth $2.00 on one MNQ contract (4 ticks × $0.50) and $20.00 on one NQ contract. If you hold 10 MNQ contracts, the exposure is identical to 1 NQ contract.
P&L worked examples
Example 1 — small move
The Nasdaq-100 rises 25 points while you hold 1 MNQ long contract.
- 25 points ÷ 0.25 tick size = 100 ticks
- 100 ticks × $0.50 tick value = $50.00 gross profit
Example 2 — intraday range
MNQ drops 150 points against a long position.
- 150 ÷ 0.25 = 600 ticks
- 600 × $0.50 = $300.00 gross loss
Example 3 — scaling with multiple contracts
You hold 5 MNQ contracts and the Nasdaq-100 rallies 80 points.
- 80 ÷ 0.25 = 320 ticks
- 320 × $0.50 × 5 contracts = $800.00 gross profit
These are gross figures. Subtract commissions on each round-trip to get net P&L. The commission section below provides per-broker figures.
Per-broker round-trip commission — one MNQ contract
A round-trip is one open + one close. Figures below are commission components only unless noted "all-in." Exchange, clearing, and NFA fees vary and are excluded unless otherwise stated.
| Broker & plan | Per side | Round-trip | Includes exchange fees? | As of |
|---|---|---|---|---|
| Tradovate Free | $0.39 | $0.78 | No | 2026-06 |
| Tradovate Monthly ($99/mo) | $0.29 | $0.58 | No | 2026-06 |
| Tradovate Lifetime ($1,499) | $0.09 | $0.18 | No | 2026-06 |
| NinjaTrader Free (all-in) | $0.95 | $1.90 | Yes (NFA + clearing + commission bundled) | 11/13/2025 |
| NinjaTrader Monthly ($79/mo, all-in) | $0.85 | $1.70 | Yes | 11/13/2025 |
| NinjaTrader Lifetime ($1,499, all-in) | $0.65 | $1.30 | Yes | 11/13/2025 |
| IBKR (both Tiered & Fixed, first 1,000/mo) | $0.25 | $0.50 | No (exchange + regulatory fees additional) | 2026-06 |
| tastytrade (open + close, excl. clearing) | $0.75 | $1.50 + $0.60 clearing | No ($0.30/contract clearing + exchange + NFA extra) | 2026-04-06 |
The NinjaTrader all-in figures for Free plan include $0.37 NFA fee + $0.19 clearing + $0.39 commission per side. See the full broker commissions guide for the complete breakdown and IBKR Tiered step-down detail.
Per-tick cost of trading
Commissions consume ticks. For scalping strategies on MNQ, the break-even move in ticks is:
- NinjaTrader Free: $1.90 round-trip ÷ $0.50 tick = 3.8 ticks to break even
- IBKR $0.25/side (exc. exchange fees): $0.50 round-trip ÷ $0.50 tick = 1.0 tick to break even (before exchange fees)
- Tradovate Free (exc. exchange fees): $0.78 ÷ $0.50 = 1.56 ticks to break even
These are the minimum favourable moves required to cover commissions. Actual break-even includes exchange and regulatory fees not reflected in some rows above.
MNQ intraday margin
Intraday margin (also called day-trading margin) is the deposit required to hold an MNQ position during the trading session, provided the position is closed before the session ends. NinjaTrader's rate sheet (stamped 11/13/2025) shows MNQ intraday margin at $100 per contract. This is exactly 1/10 of the NQ intraday margin of $1,000.
Intraday margins can be raised in real time during volatile sessions without advance notice. See the micro futures day-trading margins guide for a multi-broker comparison.
Quick reference: MNQ tick value = $0.50. Every 1 Nasdaq-100 point = 4 ticks = $2.00 per contract. Every 100 points = $200 per contract.
Drill MNQ specs with flashcards until they're automatic.
Start the micro futures deck →Frequently asked questions
- What is the MNQ tick value?
- The MNQ tick value is $0.50. Each minimum price move of 0.25 Nasdaq-100 index points multiplied by the $2 MNQ contract multiplier equals $0.50.
- How much is a 10-point Nasdaq-100 move worth on one MNQ contract?
- A 10-point move in the Nasdaq-100 equals 40 ticks (10 / 0.25 tick size). At $0.50 per tick, that is $20.00 profit or loss per MNQ contract, depending on direction.
- How does MNQ tick value compare to NQ?
- The NQ (E-mini Nasdaq-100) tick value is $5.00 per tick, exactly 10 times the MNQ tick value of $0.50. This reflects the 1:10 size ratio between the two contracts: NQ uses a $20 multiplier versus MNQ's $2.
- What does it cost to trade one MNQ round-trip at Tradovate?
- On Tradovate's Free plan, the commission is $0.39 per side, so a round-trip (open + close) costs $0.78, excluding exchange, clearing, and NFA fees. Tradovate's pricing was verified as of 2026-06; the undated commission page is corroborated by TradingCritique (2026-05-15).
- What is the MNQ intraday margin at NinjaTrader?
- NinjaTrader's MNQ intraday margin is $100 per contract on the Free plan as of 11/13/2025. NinjaTrader can raise this rate in real time during volatile sessions; the rate sheet is stamped 11/13/2025.
- How is MNQ tick value calculated?
- MNQ tick value = tick size x contract multiplier = 0.25 Nasdaq-100 points x $2.00 = $0.50. The formula applies to all futures: multiply the minimum price increment by the dollar value per contract unit.
Methodology & sources
MNQ spec values are exchange-defined at launch (May 2019) and confirmed via AMP Futures contract-specification page and NinjaTrader contract pages. NinjaTrader commission and margin figures are from the published PDF rate sheet, stamped 11/13/2025. Tradovate commission figures are from tradovate.com/pricing (verified 2026-06, corroborated by TradingCritique 2026-05-15). IBKR figures are from the IBKR commissions page for futures (verified 2026-06). tastytrade figures are from tastytrade.com/commissions-and-fees (PDF stamped 2026-04-06).
- NinjaTrader Futures Commissions & Intraday Margins (PDF) — NinjaTrader, stamped 11/13/2025
- Tradovate Pricing — Tradovate, as of 2026-06
- Interactive Brokers Futures Commissions — IBKR, as of 2026-06
- tastytrade Commissions & Fees — tastytrade, last updated 2026-04-06