Micro Futures Contracts: Trading Micro Crude and Micro Gold in a Funded Account (2026)
Micro futures contracts are the smallest way onto the two markets many funded traders start with: crude oil and gold. They move the same as their full-size cousins, tick for tick, but each tick is worth a fraction of the dollars. That single fact changes how a beginner can practice sizing, place a real stop, and stay inside a daily loss limit without a single trade wiping out a day.
Micro WTI Crude Oil (MCL) and Micro Gold (MGC) are both one tenth of the standard contract. The mechanics are identical to the larger versions, which is the whole point: you learn the exact skill you will use later, at one tenth of the cost of a mistake.
In this guide we will define what micro futures contracts are, break down the specs for Micro Crude and Micro Gold, show a clean per point risk table, and explain how micros fit the risk rules of a structured, simulated funded account.
Key Takeaways
- Micros are one tenth size. MCL is one tenth of CL and MGC is one tenth of GC, so the dollar value of every tick is one tenth as large.
- Know the tick math. One tick is 1.00 per contract on both MCL and MGC, but a full point is 100 on crude and 10 on gold.
- Same mechanics, smaller stakes. Skills built on micros transfer directly to e-minis and full contracts, because the products track the same prices.
- Micros suit small accounts. Lower dollar risk per tick makes it far easier to hold a real stop inside a daily loss limit.
- Rules still cap size. In a simulated funded account your position limits and loss limits apply no matter how small the contract is.
Table of Contents
- What Micro Futures Contracts Are
- Micro WTI Crude Oil (MCL)
- Micro Gold (MGC)
- Why Micros Fit Funded Accounts
- Sizing Micros Inside the Rules
What Micro Futures Contracts Are
A micro futures contract is a scaled down version of a standard futures contract, usually one tenth of the notional size, that trades the same underlying market at the same prices. Micro WTI Crude Oil and Micro Gold were built so traders with smaller accounts could take real positions in crude and gold without the outsized dollar swings of the full contracts.
Same market, one tenth the dollars
The key idea behind micro futures contracts is proportion. Because MCL and MGC are one tenth of their parent contracts, every tick, every point, and every stop distance is worth one tenth of the dollars it would be on the standard contract. The chart looks identical because it is the same market; only the size of the bet changes. CME Group lists these smaller instruments in its Micro suite specifically to widen access.
Why the size matters more than it looks
A smaller contract is not just cheaper, it changes the character of your risk. On a full contract a normal stop can represent hundreds of dollars, which pushes a small account toward stops that are too tight to survive noise. Micros let you set the stop where the chart says it belongs and still keep the dollar risk sane. Our post on micro futures vs e-mini futures walks through that difference in more depth.
Micro WTI Crude Oil (MCL)
Micro WTI Crude Oil (MCL) covers 100 barrels, exactly one tenth of the 1,000 barrel standard CL contract. Its minimum price move is 0.01 per barrel, worth 1.00 per contract, and a full 1.00 move in the price of crude is worth 100 per MCL contract. It is financially settled, so there is no physical barrel delivery to think about.
What that feels like in practice
Crude oil is a fast, headline sensitive market, so the smaller size does real work. If crude moves a dollar against you on one MCL, that is 100, versus 1,000 on a full CL. According to CME Group's Micro WTI Crude Oil fact card, the product trades on CME Globex from Sunday evening through Friday afternoon Central time, with the usual daily maintenance halt. That gives you room to practice an energy market without a single spike defining your week.
Reading the ticks
Because one tick is a penny in the price and 1.00 in your account, counting risk is simple arithmetic. A stop 20 ticks away is 20 per contract; a stop 0.50 away, which is 50 ticks, is 50 per contract. Keeping that math in front of you is the first step toward sizing that respects a loss limit rather than a gut feeling.
Micro Crude vs Micro Gold at a glance
Both are one tenth of the standard contract. One tick is worth 1.00 on each, but a full one point price move is worth ten times more on crude than on gold.
tradefundrr.comMicro Gold (MGC)
Micro Gold (MGC) covers 10 troy ounces, one tenth of the 100 ounce standard GC contract. Its minimum price move is 0.10 per ounce, worth 1.00 per contract, and a full 1.00 move in the price of gold is worth 10 per MGC contract. CME Group publishes the full specification on its Micro Gold product page.
Gold ticks are smaller in dollars
Notice the difference from crude: a one point move in gold is only 10 on MGC, versus 100 on MCL, because gold trades in dollars and cents per ounce with a wider point. That does not make gold safer, since gold can travel many points in a session, but it does mean your per tick and per point math is different for each product. Never assume two micros risk the same amount per point.
A side by side spec table
The table below puts the micros next to their full size parents so the one tenth relationship is obvious. Use it to convert any stop distance into dollars before you size a trade.
| Contract | Size | Tick size | Tick value | Full 1.00 move |
|---|---|---|---|---|
| MCL (Micro Crude) | 100 barrels | 0.01 / barrel | 1.00 | 100 |
| CL (Crude) | 1,000 barrels | 0.01 / barrel | 10.00 | 1,000 |
| MGC (Micro Gold) | 10 troy oz | 0.10 / ounce | 1.00 | 10 |
| GC (Gold) | 100 troy oz | 0.10 / ounce | 10.00 | 100 |
Specifications per CME Group. Exchange terms can change, so confirm the current contract specs before you trade.
Why Micros Fit Funded Accounts
Micro futures contracts fit a simulated funded account well because they let you take a real position while keeping the dollar risk small enough to respect a daily loss limit. In an evaluation, survival is the job, and micros make survival easier without changing the skill you are practicing.
Smaller size, real practice
Because the mechanics are identical to the full contracts, nothing about your practice is watered down. You still read the same order ladder, set the same kind of stop, and manage the same market. You are simply doing it at one tenth of the dollar exposure, which is exactly what a new funded trader needs while learning to stay inside the rules. Our guide to tick value and contract specs pairs well with this if you want the mechanics in one place.
Room to hold a proper stop
The most common way small accounts blow up is stops that are too tight, placed there because a wider stop on a big contract felt like too much money. Micros remove that pressure. You can place the stop where the structure sits and still keep the loss inside your limit. That is a discipline advantage, not just a cost advantage.
Sizing Micros Inside the Rules
In a TradeFundrr simulated funded account, micro contracts still live inside your position limits and your daily loss limit, and those rules always come first. A small contract does not mean an unlimited number of them, and stacking many micros can quietly rebuild the exposure of a full contract.
- Measure the stop distance in ticks or points from your entry to your stop.
- Multiply by the per tick or per point value (1.00 per tick on both MCL and MGC).
- Divide your dollar risk budget for the trade by that number to get contracts.
- Cap the result at your account position limit, and confirm you are still inside the daily loss limit.
Do not let micros creep
Because each micro feels harmless, it is easy to add just one more, then one more. Ten MCL is the exposure of one full CL. The account rules exist to stop that drift, so treat your position limit as the ceiling and size up only when your process, not your mood, justifies it. Confirm the exact position limits and daily loss limit in the written rules of your own account before you rely on any of this, since program parameters vary and can change.
Frequently Asked Questions
What is a micro futures contract?
A micro futures contract is a smaller version of a standard futures contract, typically one tenth of the notional size. Micro WTI Crude Oil (MCL) is one tenth of the standard CL contract and Micro Gold (MGC) is one tenth of the standard GC contract, so each tick moves a fraction of the dollar amount, which lowers the capital and risk per contract.
What is the tick value of Micro Crude Oil (MCL)?
Micro WTI Crude Oil (MCL) covers 100 barrels, one tenth of the 1,000 barrel CL contract. Its minimum price move is 0.01 per barrel, which is worth 1.00 per contract. A 1.00 move in the price of crude is worth 100 per MCL contract.
What is the tick value of Micro Gold (MGC)?
Micro Gold (MGC) covers 10 troy ounces, one tenth of the 100 ounce GC contract. Its minimum price move is 0.10 per ounce, which is worth 1.00 per contract. A 1.00 move in the price of gold is worth 10 per MGC contract.
Can I trade micro futures in a funded account?
In a TradeFundrr simulated futures account you trade on real market data under set rules, and micro contracts are a common way to keep size small while you learn those rules. Whether a specific product is available and how many contracts you can hold is defined by the written rules of your own account, so confirm the product list and position caps there.
Are micro futures better than mini futures for beginners?
Micros carry roughly one tenth the dollar risk per tick of the e-mini equivalent, so a mistake costs less while you build a process. That smaller size makes them a common starting point, but the mechanics are identical, so the skills transfer directly to larger contracts later.
Do micro crude oil futures settle with physical delivery?
Micro WTI Crude Oil futures are financially settled rather than physically delivered, so there is no barrel delivery to manage. In a simulated funded account no real trade is executed at all, so delivery never applies; the platform settles the position against market prices.
How much does one micro contract risk per point?
For Micro Crude (MCL) a full 1.00 price move is 100 per contract, and for Micro Gold (MGC) a full 1.00 move is 10 per contract. Multiply the distance from entry to stop by that per point value to get your dollar risk before you size the trade against your daily loss limit.
What are the trading hours for micro crude and micro gold?
Both trade on CME Globex from Sunday 5:00 p.m. Central through Friday 4:00 p.m. Central, with a daily maintenance halt in the late afternoon. Confirm current hours on CME Group before a session, since exchange schedules can change around holidays.
Trade micro futures in a simulated account
Learn crude and gold at one tenth the size, inside published daily loss limits and position caps, all in a structured simulated environment.
Get Funded →