Futures markets and trading intelligence
Explore Futures Markets. Compare Trading Platforms. Make Better-Informed Decisions.
Discover global futures markets, understand contract specifications and trading risks, and compare established futures trading platforms using transparent research.
- Contract
- A standardised exchange agreement with a size and an expiry
- Clearing
- A central counterparty sits between the two sides
- Margin
- Collateral for the position, not a cap on the loss
- Costs
- Commission, exchange fees, clearing, data and platform charges differ
- Risk
- A small price change is multiplied by the contract size
Explore global futures markets
Prices are not shown. WiT Markets does not publish a live futures feed on this page. A contract name is not a quote, and a contract listed here is not available from every provider.
Equity index futures
S&P 500, Nasdaq-100, Dow, Russell 2000 and other index contracts
An index future tracks a published basket, not one company. E-mini and micro versions change the multiplier. They do not remove leverage. Traders use them for index exposure, hedging a share portfolio, or a short view that is difficult in cash shares.
Energy futures
WTI crude, Brent, natural gas and other energy contracts
WTI and Brent are different oils with different delivery points. Natural gas is regional. Inventories, weather, refining and geopolitics move these contracts. Some can go to delivery if they are held into the notice period.
Metals futures
Gold, silver, copper, platinum
Gold is both a material and a financial contract, so rates and the dollar often matter. Copper is more closely tied to industrial activity. Contract size is large on the standard metals. A micro is a smaller multiplier, still a leveraged position.
Agricultural futures
Corn, wheat, soybeans, coffee, sugar and other crops
Seasons, weather and crop reports can reprice a contract quickly. The delivery point and the grade are part of the specification. A nearby month is not the same contract as the next harvest.
Currency futures
Exchange-listed contracts on major currency pairs
A currency future is a cleared contract on an exchange, with a published size and expiry. It is not a spot FX ticket and not a CFD. The quote, the hours and the margin rule belong to that contract.
Interest rate futures
US Treasury futures, SOFR futures and other rate contracts
These reprice when the market changes its view of interest rates. The cheapest-to-deliver bond, the convexity and the contract month matter. They are a specialist market, not a cash bond holding.
Cryptocurrency futures
Exchange-listed crypto contracts, where a venue offers them
A listed crypto future has an exchange specification and a clearing house. An offshore perpetual is a different contract, often with funding payments and a different legal home. This page does not treat the two as the same product, and it does not confirm that either is available where you live.
Contract terms
These are published CME Group contract terms for a short set of widely used contracts. They are not live quotes, and the exchange can revise a specification. Confirm the current contract on CME Group before using a tick value.
| Contract | Symbol | Exchange | Multiplier | Tick value | Settlement | Months |
|---|---|---|---|---|---|---|
| E-mini S&P 500 | ES | CME | $50 × index | 0.25 index point is $12.50 | Cash settled | Quarterly cycle, plus other listings the exchange publishes |
| Micro E-mini S&P 500 | MES | CME | $5 × index | 0.25 index point is $1.25 | Cash settled | Same index idea as ES, one tenth of the multiplier |
| E-mini Nasdaq-100 | NQ | CME | $20 × index | 0.25 index point is $5 | Cash settled | Exchange listing cycle |
| Micro E-mini Nasdaq-100 | MNQ | CME | $2 × index | 0.25 index point is $0.50 | Cash settled | Smaller multiplier than NQ |
| E-mini Dow | YM | CBOT | $5 × index | 1 index point is $5 | Cash settled | Exchange listing cycle |
| WTI crude oil | CL | NYMEX | 1,000 barrels | $0.01 per barrel is $10 | Physical delivery if held in | Monthly listings. Most positions are closed or rolled before delivery |
| Micro WTI crude oil | MCL | NYMEX | 100 barrels | $0.01 per barrel is $1 | Physical delivery if held in | One tenth of the standard WTI size |
| Gold | GC | COMEX | 100 troy ounces | $0.10 per ounce is $10 | Physical delivery if held in | Exchange listing cycle |
| Micro gold | MGC | COMEX | 10 troy ounces | $0.10 per ounce is $1 | Physical delivery if held in | One tenth of the standard gold size |
How to read a specification
Notional value is the contract multiplier times the futures price. Tick value is what one minimum price change is worth. Settlement says whether the contract pays cash or can require delivery. Expiry is the date the contract ends. A rollover is the act of leaving the expiring month for a later one, at two different prices.
Understanding futures trading
The arithmetic below uses numbers you type. It does not know a broker’s margin schedule, and it is not a suggestion to trade.
The contract
A future obliges the long and the short to the exchange’s terms. You can close it with an offsetting trade before expiry. You do not have to hold it to the end.
Long and short
A long gains if the contract price rises. A short gains if it falls. Both post margin. Both can lose.
Initial and maintenance margin
Initial margin is collateral to open. Maintenance margin is the level below which the broker asks for more cash. They are not the most you can lose.
Variation margin
The position is marked to the settlement price. Gains and losses move cash in the account, sometimes during the day.
Expiry
Every listed future has an end. A cash-settled contract pays the difference. A deliverable contract can require the physical commodity if you hold through the notice period.
Rollover
Moving from an expiring month to a later month is a new trade. The two prices differ. That difference is the roll.
Hedging and speculation
A producer may sell futures to lock a price. A trader may use the same contract with no physical business behind it. The contract does not know which one you are.
Stop orders
A stop becomes an order when the price trades through it. In a fast market there may be no trade at the stop price, so the fill can be worse than the level you set.
Options on futures
A futures option is the right to a futures position, or to cash, under that option’s terms. It is not a stock option. The premium, the expiry and the exercise style are in the specification.
Micro and standard
A micro contract uses a smaller multiplier. One micro is less notional than one standard contract. Several micros can rebuild the larger exposure. The leverage ratio of one contract is the point to read.
Risks that belong in the decision
Futures are leveraged. Losses can exceed the cash posted as initial margin. This section is a warning, not a checklist that makes a trade suitable.
Leverage
Margin is a fraction of the contract’s notional value. The loss is calculated on the full contract.
Margin calls
A losing day can require cash the same day. If the cash is not there, the broker can reduce or close the position.
Losses beyond the deposit
A gap through the maintenance level can leave a debit. The initial margin is not a maximum loss.
Overnight moves
A market can reopen far from the prior settlement. A stop left overnight does not cap that gap.
Expiry and delivery
Holding a deliverable contract into the notice period can create an obligation you did not plan.
Liquidity
A back month, or a thinner commodity, can have a wide spread. The chart of the front month is not that contract.
Slippage
The fill can be worse than the price you saw, especially when the book is thin or the news is sudden.
Data and platform costs
Exchange data, a platform licence and clearing fees can exceed a headline commission.
What to compare before a platform
The contract
Which exchange, which month, and whether it is standard, mini or micro.
The legal entity
The firm on the account decides the regulator, the complaint route and often the product list.
Futures permission
An account-country list is not permission to trade futures.
The full cost
Per-side commission, exchange fees, clearing, regulatory fees, data and any platform subscription.
Margin
Exchange margin and the broker’s house margin can differ. Day margin is not the overnight figure.
Platform
Desktop, web, mobile and an API are different tools. A third-party connection can add its own fee.
Research
A chart is not the exchange’s contract specification.
Exit
What the broker does at expiry if you do nothing, and whether you can offset outside the main session.
Compare global futures trading platforms
Named platform comparison is withheld while legal review is open. The education on this page stands on its own.
Other calculators
These tools take numbers you supply. They do not quote a futures contract.
Related reading
Commodities
Oil, metals and crops also trade as futures. The commodity page separates funds, equities and derivatives.
Risk when the position is leveraged
What changes when a small deposit controls a larger contract.
Contract terms on this page
Multipliers and tick values for a short list of exchange contracts.
Questions
What is futures trading?
Futures trading is buying or selling a standardised exchange contract that settles later. The contract has a published size, a minimum price change and an expiry. You can close it with an offsetting trade before it ends.
How do futures contracts differ from stocks and CFDs?
A stock is a share in a company, with no expiry. A listed future is an exchange contract with margin and an end date, cleared by a central counterparty. A CFD is a contract with a firm, priced by reference to a market. The three can share a name and still be different legal positions.
Can beginners trade micro futures?
A micro contract has a smaller multiplier than the standard contract, so one tick is worth less. It is still leverage. Whether a broker offers micros, and whether your account is approved, has to be read from that broker. Smaller size does not make the product conservative if you trade many contracts.
How much money is required to trade futures?
There is no single figure. Exchange margin, the broker’s house margin, a day-trading margin and any account funding minimum are different numbers, and they change. A published commission does not include those amounts.
What are initial and maintenance margins?
Initial margin is the collateral required to open. Maintenance margin is the level below which the broker can ask for more cash. Variation margin is the daily, sometimes intraday, mark-to-market. None of them is a cap on the loss.
What are the differences between futures brokers?
They differ by exchange access, contract list, platform, commission schedule, data fees, margin policy, legal entity and the countries they will onboard. A longer market list is not a better account. This page does not rank providers.
Can I trade futures from my country?
Sometimes, and only after the provider accepts your residency and approves futures on the account. An account-country list is not that approval. Confirm the entity and the product permission with the provider.
What is an E-mini futures contract?
An E-mini is a smaller version of a larger index contract, with a published multiplier. The E-mini S&P 500 uses 50 dollars times the index on CME Group’s published terms. A micro is smaller again. The specification, not the nickname, sets the exposure.
Are options on futures different from stock options?
Yes. An option on a future gives a right over a futures position, or a cash settlement, under that option’s rules. A stock option gives a right over shares. The expiry, the exercise style and the margin for the seller are not interchangeable.
What trading costs should I compare?
Compare the commission unit, whether it is per side or round turn, and then the exchange, clearing, regulatory, market-data and platform charges. A headline rate that excludes those items is not comparable with a rate that includes them.
What happens when a futures contract expires?
A cash-settled contract pays the difference against the settlement price. A deliverable contract can require the commodity if you still hold it. Brokers often close or roll a retail position before that point. Ask what yours does if you do nothing.
Can futures losses exceed the amount deposited?
Yes. Margin is collateral, not a maximum loss. A gap can leave the account in debit after the position is closed. That is a defining risk of the product, not an edge case to ignore.
Sources and method
Exchange and regulator pages below are the public references for how listed futures work. Provider pages were read for the comparison and are not repeated as a second public database. The comparison order is alphabetical. Commercial relationships do not decide inclusion or wording.
Sources and review
Written by: WiT Markets Editorial. Writes and structures WiT Markets pages. Separates a sourced fact from a cell that is Not confirmed.
Review: Editorially reviewed. This is not a qualified specialist review and it is not a legal sign-off.
Last reviewed: . Next review due . The date is an editorial pass. It is not a live check of every third-party fee.
Regulatory and official sources
- U.S. Commodity Futures Trading Commission — checked 14 October 2026
- National Futures Association — checked 14 October 2026
- Financial Conduct Authority — checked 13 October 2026
Other sources
- CME Group — checked 13 October 2026
- Intercontinental Exchange — checked 16 October 2026
Methodology. Editorial policy. Corrections. Report an error.
Methodology · Editorial policy · Risk disclosure · Corrections