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Contract Size Calculator — Every Futures Multiplier, in Dollars
Contract size is the multiplier that turns a price move into cash. Pick NQ, ES, US30, gold, forex or crypto and instantly see the contract multiplier, value per point or pip, and the notional size you are actually trading — the numbers every prop-firm position size decision starts from.
What is the contract size of NQ, ES or gold?
Contract size is the multiplier that converts price movement into dollars: NQ pays $20 per point, MNQ $2, ES $50, MES $5, US30 $5, gold $100 per $1 move per lot and EUR/USD $10 per pip per standard lot. Multiply your stop distance by the multiplier to get the exact cash risk of one unit.
NQ contract specs
- Contract
- E-mini Nasdaq 100
- Contract size (multiplier)
- $20 × index point
- Value per movement
- $20 per point per contract
- Notional value (approx.)
- $397,000
- Position unit
- contracts
- Reference price
- $19,850
What it means in dollars
Contract size is the multiplier that turns price movement into cash. One E-mini Nasdaq 100 is worth $20 per point per contract. A 50-point move on one unit is therefore $1,000.
Why it matters for prop firms
Your daily drawdown is a dollar number. Contract size is the number that converts your stop distance into that dollar number — which is why sizing the contract count correctly is the single most important risk decision on a funded account.
Every market's contract size at a glance
| Market | Value per unit | Position unit | Risk / unit at 50-stop |
|---|---|---|---|
| NQ — Nasdaq 100 | $20 per point | contracts | $1,000 |
| MNQ — Micro Nasdaq 100 | $2 per point | contracts | $100 |
| BTC — Bitcoin | $1 per $1 | coins | $50 |
| ETH — Ethereum | $1 per $1 | coins | $50 |
| XAU/USD — Gold | $100 per $1 | lots | $5,000 |
| EUR/USD — EUR/USD | $10 per pip | lots | $200 |
| ES — S&P 500 | $50 per point | contracts | $2,500 |
| US30 — Dow Jones (US30) | $5 per point | contracts | $250 |
Example: with a 50-point stop, one NQ contract risks $1,000 while one ES contract risks $2,500 — the same stop, five times the cash risk.
From contract size to position size
Once you know the value per point or pip of your contract, the next step is sizing: position size = dollar risk ÷ (stop distance × value per unit). Use the lot size calculator to get the exact contracts, or read the position sizing guide for the full logic behind each formula.
Cash risk of one contract at a typical stop
Using the real contract multipliers above, this is the dollar risk of a single contract or lot at a 50-point (or 20-pip) stop.
| Market | Multiplier | 50-pt / 20-pip risk | Max units @$1,000 |
|---|---|---|---|
| NQ — Nasdaq 100 | $20 per point | $1,000 | 1 contracts |
| ES — S&P 500 | $50 per point | $2,500 | <1 contracts |
| US30 — Dow Jones (US30) | $5 per point | $250 | 4 contracts |
| BTC — Bitcoin | $1 per $1 | $50 | 20 coins |
| ETH — Ethereum | $1 per $1 | $50 | 20 coins |
| XAU/USD — Gold | $100 per $1 | $5,000 | <1 lots |
| EUR/USD — EUR/USD | $10 per pip | $200 | 5 lots |
The same 50-point stop costs $1,000 on NQ but $2,500 on ES. Know the multiplier, then size to your drawdown — the calculator above gives both in one view.
Per-market calculators
Nasdaq 100 Position Size Calculator
Calculate your exact NQ (Nasdaq 100 E-mini) position size in contracts based on account balance, risk % and stop-loss. Built for prop firm and SMC/ICT traders.
Sized in contracts
Micro Nasdaq 100 Position Size Calculator
Calculate your exact MNQ (Micro Nasdaq 100) position size in contracts by account balance, risk % and stop-loss. Ideal for small prop firm accounts.
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Bitcoin Position Size Calculator
Calculate your exact Bitcoin position size in BTC based on account balance, risk % and stop-loss. Built for prop firm and SMC crypto traders.
Sized in coins
Ethereum Position Size Calculator
Calculate your exact Ethereum position size in ETH based on account balance, risk % and stop-loss. Built for SMC and prop firm crypto traders.
Sized in coins
Gold Position Size Calculator
Calculate your exact Gold (XAU/USD) position size in lots based on account balance, risk % and stop-loss. Perfect for prop firm and SMC traders.
Sized in lots
EUR/USD Position Size Calculator
Calculate your exact EUR/USD position size in lots based on account balance, risk % and stop-loss in pips. Built for prop firm forex traders.
Sized in lots
S&P 500 Position Size Calculator
Calculate your exact ES (E-mini S&P 500) position size in contracts from account balance, risk % and stop-loss. Built for prop firm traders.
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Dow Jones (US30) Position Size Calculator
Calculate your exact US30 (Dow Jones) position size in contracts based on account balance, risk % and stop-loss. Built for prop firm traders.
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Contract size FAQ
What does contract size mean in futures trading?
Contract size is the fixed quantity a futures contract represents — for example one NQ contract covers the E-mini Nasdaq 100 at $20 per index point. It is the multiplier that converts price movement into dollar P&L, which is why two instruments with the same stop distance can create very different cash risk.
How do I calculate the contract size of a futures product?
Look up the contract multiplier: NQ is $20 per point, MNQ is $2, ES is $50, US30 is $5, gold (XAU/USD) is $100 per $1 move per lot, and EUR/USD is $10 per pip per standard lot. That multiplier times your stop distance equals the cash risk of one contract or lot.
Is the S&P 500 futures contract size the same as Nasdaq?
No. The E-mini S&P 500 (ES) has a $50 per point multiplier while the E-mini Nasdaq 100 (NQ) is $20 per point. A 50-point stop therefore costs $2,500 on ES but only $1,000 on NQ — always check the multiplier before sizing a trade.
What is the micro ES futures contract size?
The Micro E-mini S&P 500 is one-tenth of the ES at $5 per point per contract. The Micro Nasdaq 100 (MNQ) is also one-tenth of the NQ at $2 per point. Micros let small prop-firm accounts trade the same index with a fraction of the cash risk.
Does contract size affect my prop firm position sizing?
Completely. Your position size is dollar risk divided by (stop distance × contract size multiplier). A larger multiplier means fewer contracts for the same risk — contract size is the first number to check before you enter any funded-account trade.
What is the lot size vs contract size difference?
A lot is the standard unit of quantity in forex — one standard lot is 100,000 units of base currency ($10 per pip on EUR/USD) — while a contract is the fixed quantity a futures product represents, like one NQ contract covering $20 per index point. They are the same idea with different names and different values: the 'unit' your position size is measured in for each market.
What is the MNQ futures contract size?
The Micro E-mini Nasdaq 100 (MNQ) is one-tenth of the full NQ at $2 per index point per contract, while the NQ itself is $20 per point. A 100-point stop on MNQ costs $200 versus $2,000 on NQ. Micro contracts like MNQ and MES (Micro S&P 500 at $5 per point) let smaller prop-firm accounts trade the same indices with a fraction of the cash risk.
Where can I find a futures contract size list?
Every CME product has its multiplier published in its contract specs: NQ $20/point, MNQ $2/point, ES $50/point, MES $5/point, US30 $5/point (via the Dow futures), and gold futures $100 per $1 move. This calculator shows the multiplier, value per point or pip, and the notional size for each supported market — the practical contract size list for prop-firm trading.